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Deed Of Sale For Lot
"I need a Deed of Sale for Lot to sell my residential property in Penang, Malaysia to a local buyer, with completion scheduled for March 2025 and including standard warranties for a residential property transfer."
1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses
2. Background: Recitals establishing the Vendor's ownership, authority to sell, and Purchaser's intention to buy
3. Definitions: Definitions of key terms used throughout the deed including 'Property', 'Completion Date', 'Purchase Price'
4. Sale and Purchase: Core agreement clause stating the Vendor's agreement to sell and Purchaser's agreement to buy the lot
5. Property Details: Detailed description of the lot including title particulars, lot number, and land area
6. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment arrangements
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Vendor's Obligations: Vendor's warranties, representations, and obligations regarding the property
9. Purchaser's Obligations: Purchaser's warranties, representations, and obligations regarding the purchase
10. Completion: Requirements and procedures for completing the sale including documentation and registration
11. Title and Transfer: Provisions regarding transfer of title and registration procedures
12. Costs and Expenses: Allocation of legal fees, stamp duty, and other transaction costs
13. Notices: Procedures for giving notices under the deed
14. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Foreign Investment Approval: Required when the Purchaser is a foreign entity or individual, detailing necessary approvals
2. Development Requirements: Applicable when the lot is subject to specific development conditions or restrictions
3. Bank Consent: Required when the property is subject to an existing charge or mortgage
4. Condition of Property: Detailed provisions about the property's physical condition, if sold with specific warranties
5. Environmental Matters: Required when there are environmental considerations or restrictions on the lot
6. Planning Permissions: Necessary when specific planning permissions are required for intended use
7. Existing Tenancies: Required when the property is sold subject to existing tenancies
8. Agent's Commission: Included when real estate agents are involved in the transaction
1. Schedule 1: Property Details: Comprehensive description of the lot including boundary plan, title particulars, and encumbrances
2. Schedule 2: Payment Terms: Detailed breakdown of purchase price, payment schedule, and method of payment
3. Schedule 3: Title Documents: List of all title documents to be delivered on completion
4. Schedule 4: Form 14A: Prescribed transfer form under the National Land Code
5. Schedule 5: Vendor's Deliverables: List of documents and items to be delivered by Vendor on completion
6. Appendix A: Copy of Title: Copy of the land title
7. Appendix B: Location Plan: Certified plan showing the location and boundaries of the lot
8. Appendix C: Relevant Permits: Copies of relevant permits, certificates, and approvals
Authors
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Urban Planning
Agriculture (for agricultural lots)
Industrial Development
Commercial Property
Residential Property
Legal
Real Estate
Property Management
Compliance
Land Administration
Corporate Secretarial
Investment
Development
Project Management
Risk Management
Real Estate Lawyer
Property Manager
Land Administrator
Real Estate Agent
Property Developer
Legal Counsel
Conveyancing Executive
Land Surveyor
Property Investment Manager
Compliance Officer
Real Estate Investment Director
Development Manager
Project Manager
Land Acquisition Manager
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