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Simple Property Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

Simple Property Sale Agreement

"I need a Simple Property Sale Agreement for a residential property in Kuala Lumpur, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and renovation works in progress."

Document background
The Simple Property Sale Agreement is a fundamental legal document used in Malaysian property transactions to formalize the sale and purchase of real estate. This document is essential for both residential and commercial property transfers in Malaysia, providing a legally binding framework that ensures compliance with local property laws and regulations. It incorporates key elements required under Malaysian law, including provisions from the National Land Code 1965, Contracts Act 1950, and relevant state regulations. The agreement is designed to protect both vendors and purchasers by clearly stating the terms of sale, property details, payment conditions, and obligations of all parties. It serves as the primary document for property transfers and is typically required by financial institutions, land offices, and legal practitioners involved in the transaction process.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses

2. Background: Context of the sale and brief description of the transaction

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

4. Property Details: Full legal description of the property including title details and address

5. Purchase Price: Statement of the agreed purchase price and payment terms

6. Deposit: Details of the deposit amount, payment method, and holding arrangements

7. Completion: Timing and procedures for completing the sale

8. Vendor's Obligations: Responsibilities and warranties of the seller

9. Purchaser's Obligations: Responsibilities and obligations of the buyer

10. Condition of Property: Statement about the condition in which the property will be transferred

11. Title and Transfer: Provisions regarding clean title and transfer procedures

12. Default: Consequences of default by either party

13. Governing Law: Specification that Malaysian law governs the agreement

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Tenancies: Required if the property is currently tenanted or has existing lease agreements

2. Fixtures and Fittings: Detailed when specific items are included or excluded from the sale

3. Strata Title Provisions: Needed for apartments or properties under strata management

4. Conditions Precedent: Include when sale is subject to specific conditions being met

5. Financial Institution Provisions: Required when purchase involves bank financing

6. GST/Tax Provisions: Include when specific tax arrangements need to be addressed

7. Property Management: Needed for properties within managed developments

8. Renovation/Alteration Provisions: Include when property requires or has ongoing works

Suggested Schedules

1. Schedule 1 - Property Description: Detailed legal description of the property including lot number, title details, and boundaries

2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price including deposits and payment schedule

3. Schedule 3 - Inventory List: List of fixtures, fittings, and items included in the sale

4. Schedule 4 - Title Particulars: Copy of land title or strata title details

5. Schedule 5 - Form 14A Template: Template of the statutory transfer form required under National Land Code

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

7. Appendix B - Photographs: Current photographs of the property and included items

8. Appendix C - Relevant Certificates: Copies of relevant certificates (e.g., CCC, strata title)

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

Banking and Finance

Legal Services

Construction

Real Estate Investment

Property Management

Residential Property

Commercial Property

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Corporate Services

Risk Management

Operations

Document Administration

Business Development

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Manager

Legal Counsel

Bank Manager

Property Developer

Real Estate Investment Manager

Compliance Officer

Real Estate Broker

Title Officer

Property Valuer

Sales Director

Legal Administrator

Real Estate Transaction Coordinator

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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