The Short Land Purchase Agreement is specifically designed for straightforward land transactions in Malaysia where parties seek a concise yet legally robust document. It is particularly suitable for uncomplicated property purchases where extensive conditions or development terms are not required. This document type follows Malaysian legal requirements, particularly the National Land Code 1965 and Contracts Act 1950, while maintaining brevity and clarity. It includes essential elements such as party details, property description, purchase price, and completion terms, making it ideal for both individual and corporate transactions where a more elaborate sale and purchase agreement would be unnecessary. The agreement is commonly used for transactions involving vacant land, agricultural property, or straightforward commercial property transfers in Malaysia.
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1. Parties: Identification of the Vendor and Purchaser with full names, identification numbers, and addresses
2. Background: Brief context of the transaction and confirmation of Vendor's ownership
3. Definitions: Key terms used in the agreement including Property, Purchase Price, Completion Date
4. Sale and Purchase: Core agreement to sell and purchase the property at the specified price
5. Property Details: Legal description of the land including title details, lot number, and land area
6. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment
7. Conditions Precedent: Essential conditions that must be fulfilled before completion
8. Completion: Timeline and procedures for completing the transaction
9. Vendor's Warranties: Basic warranties about property ownership and condition
10. Default: Consequences of default by either party
11. Governing Law: Confirmation of Malaysian law application and jurisdiction
1. Foreign Ownership Approval: Required if the purchaser is a foreign national or entity
2. Existing Tenancies: Required if the property is subject to ongoing tenancies
3. Property Condition: Detailed conditions if the property is sold with specific fixtures or in a particular state
4. Real Property Gains Tax: Special provisions for RPGT if relevant to the transaction
5. GST/Tax Provisions: Required if the transaction is subject to GST or other specific taxes
6. Agent Commission: Include if property agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property description, including title particulars, lot number, and land area
2. Schedule 2 - Payment Schedule: Breakdown of payment terms including deposit, progressive payments if any
3. Schedule 3 - Title Conditions: Express conditions, restrictions in interest, and encumbrances on the title
4. Schedule 4 - Form of Transfer: Template of the land transfer form to be executed
5. Appendix A - Property Plan: Copy of the land survey plan or property layout
6. Appendix B - Title Search: Recent land title search results
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Agriculture
Industrial
Commercial
Retail
Hospitality
Manufacturing
Logistics
Infrastructure
Relevant Teams
Legal
Real Estate
Property
Corporate Affairs
Compliance
Business Development
Investment
Operations
Commercial
Administration
Relevant Roles
Legal Counsel
Property Manager
Real Estate Director
Land Acquisition Manager
Corporate Lawyer
Real Estate Agent
Property Developer
Investment Manager
Business Development Manager
Company Secretary
Compliance Officer
Contract Manager
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