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Conditional Land Sale Agreement
"I need a Conditional Land Sale Agreement for a commercial property in Kuala Lumpur, where completion is subject to obtaining development approval from the local authority by March 2025, with a purchase price of RM 5 million to be paid in three installments."
1. Parties: Identification and details of the Vendor and Purchaser, including full names, identification numbers, and addresses as required for land transfer documentation
2. Background: Recitals explaining the ownership of the land, intention to sell/purchase, and any relevant context about the transaction
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Purchase Price', 'Completion Date', etc.
4. Sale and Purchase: Core agreement for the sale and purchase of the property, subject to the stated conditions
5. Purchase Price: Detailed breakdown of the purchase price and payment schedule
6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes unconditional
7. Title and Ownership: Warranties regarding the title, ownership status, and encumbrances on the property
8. Completion: Requirements and procedures for completing the sale, including documentation and registration requirements
9. Vendor's Obligations: Specific obligations of the vendor before and up to completion
10. Purchaser's Obligations: Specific obligations of the purchaser before and up to completion
11. Default: Consequences and remedies in case of default by either party
12. Notices: Procedure for giving notices under the agreement
13. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Development Conditions: Required when the land is subject to development conditions or restrictions
2. Agricultural Conditions: Needed when the land is agricultural land with specific conditions or restrictions
3. Native Land Requirements: Required for transactions involving native land or native title restrictions
4. Strata Title Provisions: Included when the property involves or will involve strata titles
5. Environmental Conditions: Required when there are environmental considerations or requirements
6. Third Party Consents: Needed when the sale requires consent from authorities or other parties
7. Property Management: Included when there are ongoing management obligations or requirements
8. GST/Tax Provisions: Required when specific tax arrangements need to be addressed
1. Property Description Schedule: Detailed description of the property including lot number, title details, and land area
2. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Title Particulars: Copy or extract of the land title and relevant particulars
4. Completion Documents: List of documents required for completion
5. Vendor's Warranties: Detailed list of warranties given by the vendor
6. Encumbrances Schedule: Details of any existing encumbrances, charges, or caveats
7. Land Use Conditions: Specific conditions and restrictions on land use
8. Form 14A Template: Template of the statutory transfer form under National Land Code
Authors
Real Estate
Property Development
Construction
Agriculture
Commercial Property
Residential Property
Industrial Property
Banking and Finance
Legal Services
Urban Planning
Legal
Real Estate
Property Development
Compliance
Finance
Corporate Secretarial
Risk Management
Operations
Project Management
Sales
Land Administration
Legal Counsel
Property Manager
Real Estate Developer
Land Officer
Compliance Officer
Contract Manager
Real Estate Agent
Property Valuer
Development Director
Project Manager
Finance Manager
Corporate Secretary
Land Administrator
Transaction Manager
Risk Manager
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