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Property Sale Contract Form Template for Malaysia

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Key Requirements PROMPT example:

Property Sale Contract Form

"I need a Property Sale Contract Form for selling my residential property in Kuala Lumpur, with completion scheduled for March 2025 and including standard payment terms with a 10% deposit."

Document background
The Property Sale Contract Form is a crucial legal document used in Malaysian property transactions to formalize the sale and purchase of real estate. This document is essential for any property transfer in Malaysia, whether residential, commercial, or industrial. It must comply with the National Land Code 1965, Contracts Act 1950, and other relevant Malaysian legislation. The contract form includes comprehensive details about the property, parties involved, purchase price, payment terms, conditions precedent, and completion requirements. It serves as the primary agreement between vendor and purchaser, protecting both parties' interests and ensuring legal compliance throughout the transaction. The document is particularly important as it forms the basis for the property's transfer registration with the relevant Land Office and establishes legally binding obligations for all parties involved.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, including full names, identification numbers, and addresses

2. Background: Brief context of the transaction and property ownership status

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Complete description of the property including title details, lot number, address, and land area

5. Purchase Price: Agreed purchase price and payment terms including deposit and completion amounts

6. Payment Terms: Detailed schedule of payments, including deposit, progressive payments, and completion payment

7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale

8. Vendor's Obligations: Responsibilities and warranties of the seller including title guarantee and property condition

9. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and due diligence

10. Completion: Requirements and procedures for completing the sale, including documentation and timing

11. Title and Transfer: Provisions regarding the transfer of title and registration procedures

12. Default and Termination: Consequences of default by either party and termination provisions

13. Notices: Process for giving formal notices under the agreement

14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

Optional Sections

1. Tenancies: Required if the property is subject to existing tenancies that will continue after sale

2. Strata Title Provisions: Required for apartments, condominiums, or other stratified properties

3. Construction Warranties: Required for new properties or those still under developer warranty

4. Bank Consent: Required if the property is subject to an existing mortgage requiring bank discharge

5. Property Management: Required for properties within managed developments with ongoing maintenance obligations

6. Developer's Consent: Required if the property is still subject to developer's restrictions or consent requirements

7. Foreign Investment Approval: Required if the purchaser is a foreign national or entity

8. Agricultural Conditions: Required if the property is agricultural land with specific conditions or restrictions

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including boundaries, fixtures, and fittings

2. Schedule 2 - Title Particulars: Copy of title details, including any restrictions or encumbrances

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment amounts and due dates

4. Schedule 4 - Completion Requirements: Checklist of documents and requirements for completion

5. Appendix A - Property Plans: Floor plans, location plans, and other relevant property drawings

6. Appendix B - Inventory: List of included fixtures, fittings, and other items included in the sale

7. Appendix C - Special Conditions: Any special conditions or requirements specific to the property

8. Appendix D - Due Diligence Documents: Copies of relevant certificates, permits, and compliance documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





































Clauses






























Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Management

Investment

Housing Development

Commercial Property

Residential Property

Agriculture (for agricultural land)

Industrial Property

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Finance

Investment

Operations

Risk Management

Business Development

Contract Administration

Corporate Services

Relevant Roles

Real Estate Lawyer

Property Lawyer

Conveyancing Executive

Real Estate Agent

Property Manager

Legal Counsel

Compliance Officer

Property Developer

Sales Director

Investment Manager

Property Valuer

Bank Manager

Contract Administrator

Land Officer

Company Secretary

Real Estate Investment Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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