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Conditional Deed Of Sale

Conditional Deed Of Sale Template for Malaysia

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Key Requirements PROMPT example:

Conditional Deed Of Sale

"I need a Conditional Deed of Sale for a commercial property purchase in Kuala Lumpur, where completion is subject to obtaining local authority approval and securing bank financing by March 2025."

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Document background
The Conditional Deed of Sale is a crucial legal instrument in Malaysian property and asset transactions where certain conditions must be fulfilled before the sale becomes absolute. This document is commonly used when there are pending matters that need to be resolved before final transfer, such as obtaining regulatory approvals, securing financing, or clearing encumbrances. The deed must comply with Malaysian legislation, including the Contracts Act 1950, National Land Code 1965, and Stamp Act 1949. It provides a comprehensive framework detailing the subject matter of sale, purchase price, payment terms, conditions precedent, timeframes for fulfillment, and the rights and obligations of all parties involved. The Conditional Deed of Sale is particularly valuable in complex transactions where protection of both parties' interests during the conditional period is paramount.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, including registration/ID numbers and addresses

2. Background: Recitals explaining the context of the sale, including brief description of the property and the parties' intention to enter into a conditional sale

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

4. Subject Matter of Sale: Detailed description of the property or goods being sold

5. Purchase Price: The agreed purchase price and payment terms

6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes absolute

7. Time Period for Fulfillment: Stipulated timeframe within which conditions must be met

8. Vendor's Obligations: Responsibilities and warranties of the seller during the conditional period and upon completion

9. Purchaser's Obligations: Responsibilities of the buyer during the conditional period and upon completion

10. Completion: Requirements and procedures for completing the sale once conditions are met

11. Default and Termination: Consequences of breach and circumstances allowing termination

12. Governing Law and Jurisdiction: Confirmation of Malaysian law as governing law and jurisdiction for disputes

Optional Sections

1. Third Party Consents: Required when the sale is subject to approval from authorities or other parties

2. Mortgage or Encumbrance: Included when the property has existing charges that need to be cleared

3. Special Conditions: For unique requirements specific to the transaction or property

4. Tax Provisions: Detailed tax arrangements when complex tax implications are involved

5. Assignment Clause: When rights under the deed may need to be assignable

6. Force Majeure: When protection against unforeseen circumstances is required

7. Strata Title Provisions: For properties pending strata title issuance

Suggested Schedules

1. Property Schedule: Detailed description of the property including title details, boundaries, and encumbrances

2. Payment Schedule: Breakdown of payment terms, installments, and due dates

3. Conditions Precedent Schedule: Detailed list of all conditions to be fulfilled with specific requirements

4. Completion Documents: List of documents required for completion of the sale

5. Vendor's Warranties: Comprehensive list of warranties given by the vendor

6. Property Inventory: For sales including fixtures, fittings, or other items

7. Required Consents: List of necessary approvals and consents with their status

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Industrial Property

Agriculture

Retail

Manufacturing

Hospitality

Construction

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Commercial

Business Development

Finance

Investment

Corporate Secretariat

Risk Management

Operations

Relevant Roles

Legal Counsel

Property Manager

Real Estate Manager

Contract Manager

Commercial Director

Chief Legal Officer

Compliance Officer

Property Developer

Real Estate Agent

Conveyancing Executive

Business Development Manager

Asset Manager

Investment Manager

Finance Manager

Company Secretary

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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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