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Commercial Property Contract Template for Malaysia

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Key Requirements PROMPT example:

Commercial Property Contract

"I need a Commercial Property Contract for purchasing a three-story office building in Kuala Lumpur's Golden Triangle area, with completion scheduled for March 2025, including provisions for existing tenants and building management transfer."

Document background
The Commercial Property Contract serves as the primary legal instrument for commercial real estate transactions in Malaysia. It is essential for businesses and individuals engaging in the purchase or sale of commercial properties, including office spaces, retail units, industrial buildings, and mixed-use developments. The document must comply with Malaysian federal laws, particularly the National Land Code 1965, Contracts Act 1950, and relevant state legislation. It typically includes comprehensive details about the property, parties involved, financial terms, conditions precedent, warranties, and completion requirements. This contract type is crucial for ensuring legal protection and clarity in commercial property transactions while maintaining compliance with Malaysian property and commercial laws.
Suggested Sections

1. Parties: Identification and details of the vendor and purchaser, including registration numbers for companies

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

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

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

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

6. Payment Terms: Detailed breakdown of payment schedule, deposit, and completion payment

7. Conditions Precedent: Conditions that must be fulfilled before completion

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

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

10. Completion: Requirements and process for completing the transaction

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

12. Default: Consequences of default by either party

13. Termination: Circumstances and process for termination

14. Notices: Process for serving notices between parties

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

Optional Sections

1. Tenancies: Required when the property is sold subject to existing tenancies

2. Property Management: Needed when dealing with strata properties or managed commercial complexes

3. Environmental Matters: Required for properties with potential environmental concerns or compliance requirements

4. Development Orders: Needed when the property is subject to specific development orders or restrictions

5. Asset Inventory: Required when the sale includes fixtures, fittings, or other assets

6. Due Diligence: Detailed provisions for due diligence when required by purchaser

7. Tax Matters: Special tax considerations or arrangements between parties

8. Financing Conditions: Required when purchase is subject to financing approval

9. Property Access: Needed when specific access arrangements are required before completion

10. Post-Completion Obligations: Required when parties have ongoing obligations after completion

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including boundaries and measurements

2. Title Particulars: Complete details of the property title and encumbrances

3. Payment Schedule: Detailed breakdown of payment terms and timing

4. Vendor's Deliverables: List of documents and items to be delivered by vendor

5. Existing Tenancies: Details of any existing lease agreements and tenants

6. Inventory List: Detailed list of fixtures, fittings and other included items

7. Special Conditions: Any special terms or conditions specific to the transaction

8. Form 14A: Statutory transfer form under National Land Code

9. Property Plans: Official plans and drawings of the property

10. Regulatory Approvals: Copies of relevant permits and approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 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

Banking and Finance

Retail

Manufacturing

Hospitality

Healthcare

Education

Technology

Logistics and Warehousing

Professional Services

Construction and Development

Relevant Teams

Legal

Real Estate

Finance

Operations

Facilities Management

Risk and Compliance

Business Development

Property Management

Asset Management

Corporate Services

Relevant Roles

Real Estate Manager

Property Director

Legal Counsel

Commercial Director

Chief Financial Officer

Business Development Manager

Facilities Manager

Asset Manager

Investment Manager

Property Acquisition Manager

Real Estate Analyst

Contract Administrator

Risk Manager

Company Secretary

Operations Director

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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