The Addendum To Real Estate Purchase And Sale Agreement is a crucial document used in Malaysian real estate transactions when parties need to modify their original agreement. It's commonly employed when circumstances change after the initial agreement is signed but before the transaction is completed, such as adjustments to purchase price, closing date, or property specifications. This document must comply with Malaysian property law, including the National Land Code 1965 and the Contracts Act 1950, and requires proper execution and stamping. The addendum becomes legally binding upon signing and forms an integral part of the original agreement. It's particularly important in complex real estate transactions where flexibility is needed to address changing circumstances while maintaining legal certainty.
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1. Parties: Identifies the same parties from the original Purchase and Sale Agreement, including their full legal names, identification/registration numbers, and addresses
2. Background: References the original Purchase and Sale Agreement, including its date of execution and basic subject matter (property details), and states the parties' intention to modify the original agreement
3. Definitions: Defines key terms used in the addendum and incorporates definitions from the original agreement
4. Reference to Original Agreement: Specific clause confirming the addendum's relationship to the original agreement and that all other terms remain in full force and effect
5. Modifications: Clearly states the specific changes, additions, or deletions to the original agreement, with reference to the relevant sections being modified
6. Effective Date: Specifies when the modifications take effect
7. Ratification: Confirms that all other terms and conditions of the original agreement remain unchanged
8. Execution: Signature blocks for all parties and witnesses
1. Additional Consideration: Required when the modifications involve changes to the purchase price or other financial terms
2. Time Extensions: Used when modifying any deadlines or timeframes from the original agreement
3. Conditional Clauses: Included when the modifications are subject to specific conditions being met
4. Regulatory Compliance: Required when modifications need to address specific regulatory requirements or approvals
5. Third Party Consents: Included when the modifications require approval from banks, authorities, or other third parties
6. Property Specifications: Used when modifications involve changes to property specifications or included items
1. Schedule A - Modified Terms: Detailed listing of the specific clauses being modified, showing both original and new text
2. Schedule B - Revised Payment Schedule: If applicable, updated payment terms or schedule
3. Schedule C - Modified Property Specifications: If applicable, revised property details or specifications
4. Appendix 1 - Supporting Documents: Any relevant supporting documents referenced in the addendum
5. Appendix 2 - Regulatory Approvals: Copies of any required regulatory approvals or permits related to the modifications
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Residential Property
Commercial Property
Industrial Property
Construction
Banking and Finance
Legal Services
Property Management
Urban Planning
Relevant Teams
Legal
Real Estate
Compliance
Sales
Property Management
Business Development
Risk Management
Finance
Operations
Document Control
Relevant Roles
Real Estate Agent
Property Developer
Legal Counsel
Property Manager
Conveyancing Lawyer
Bank Manager
Compliance Officer
Real Estate Investment Manager
Property Valuer
Contract Administrator
Sales Director
Development Manager
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