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Conditional Land Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

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."

Document background
The Conditional Land Sale Agreement is a crucial legal instrument in Malaysian property transactions where certain conditions must be fulfilled before the sale can be completed. This document is commonly used when there are pending matters to be resolved before the transfer of land can take place, such as obtaining regulatory approvals, subdivision of land, conversion of land use, or securing financing. The agreement must comply with the National Land Code 1965, state land rules, and other relevant Malaysian legislation. It typically includes detailed provisions about the property, purchase price, payment terms, conditions precedent, completion requirements, and the rights and obligations of both parties. This type of agreement is particularly important in protecting both parties' interests during the period between signing and completion, especially when significant time may elapse while conditions are being fulfilled.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Property Development

Construction

Agriculture

Commercial Property

Residential Property

Industrial Property

Banking and Finance

Legal Services

Urban Planning

Relevant Teams

Legal

Real Estate

Property Development

Compliance

Finance

Corporate Secretarial

Risk Management

Operations

Project Management

Sales

Land Administration

Relevant Roles

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

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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