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Commercial Real Estate Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

Commercial Real Estate Purchase Agreement

"I need a Commercial Real Estate Purchase Agreement for acquiring a 5-story office building in Kuala Lumpur's Golden Triangle area, with existing tenants and completion planned for March 2025; the agreement must include special provisions for tenant management during ownership transition."

Document background
The Commercial Real Estate Purchase Agreement is a crucial legal instrument used in Malaysian property transactions when transferring ownership of commercial real estate between parties. It is essential for any business or individual looking to purchase or sell commercial property in Malaysia, whether it's office space, retail units, industrial facilities, or other commercial real estate assets. The agreement must comply with Malaysian legal requirements, including the National Land Code 1965, Contracts Act 1950, and relevant state legislation. It typically includes comprehensive details about the property, price negotiations, payment terms, conditions precedent, due diligence requirements, and completion procedures. This document is particularly important as it provides legal protection for both parties and ensures compliance with local property laws, foreign investment regulations, and stamp duty requirements.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser, including registration details for companies or NRIC for individuals

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 land area

5. Purchase Price: Agreed purchase price and payment structure

6. Payment Terms: Detailed payment schedule, deposit requirements, and balance payment arrangements

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

8. Vendor's Obligations: Obligations and warranties provided by the vendor

9. Purchaser's Obligations: Obligations and undertakings of the purchaser

10. Completion: Completion procedures, timing, and requirements

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

12. Default and Termination: Consequences of default and termination rights

13. Notices: Process for serving notices between parties

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

15. General Provisions: Standard boilerplate clauses including entire agreement, variations, and severability

Optional Sections

1. Foreign Investment Approval: Required when purchaser is a foreign entity, detailing compliance with Malaysian foreign ownership restrictions

2. Strata Title Provisions: Required for stratified properties, including provisions about management corporation and service charges

3. Tenancy Provisions: Required when property is sold with existing tenants, addressing handover of tenancy deposits and agreements

4. Development Orders: Required when property is subject to specific development orders or planning permissions

5. Environmental Provisions: Required when property has environmental considerations or compliance requirements

6. GST Provisions: Required when transaction is subject to Goods and Services Tax

7. Renovation Works: Required when agreement includes terms about ongoing or planned renovation works

8. Property Management: Required for properties in managed commercial complexes

Suggested Schedules

1. Property Schedule: Detailed property description, including boundaries, fixtures, and fittings

2. Title Particulars: Copy of land title and detailed title particulars

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. Conditions Precedent Checklist: Detailed list of conditions to be fulfilled before completion

6. Existing Tenancies: Details of existing tenancy agreements and deposits

7. Property Plans: Approved building plans and location plans

8. Due Diligence Results: Summary of property due diligence findings

9. Form 14A: Prescribed transfer form under National Land Code

10. Completion Checklist: List of requirements for completion of the sale

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
































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Relevant Industries

Real Estate

Commercial Property Development

Banking and Finance

Retail

Hospitality

Industrial Manufacturing

Logistics and Warehousing

Healthcare

Education

Professional Services

Technology and Data Centers

Relevant Teams

Legal

Real Estate

Finance

Operations

Facilities Management

Corporate Affairs

Risk Management

Compliance

Business Development

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Corporate Lawyer

Real Estate Agent

Property Valuer

Facilities Manager

Business Development Manager

Investment Manager

Asset Manager

Company Secretary

Finance Director

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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