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Deed Of Sale Of Condominium Unit
"I need a Deed of Sale of Condominium Unit for a foreign buyer purchasing a luxury unit in Kuala Lumpur, with completion scheduled for March 2025, including specific clauses about foreign ownership approval and renovation restrictions."
1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses
2. Background: Recitals establishing the Vendor's ownership, property details, and intention to sell
3. Definitions: Definitions of key terms used throughout the deed
4. Property Details: Comprehensive description of the condominium unit, including unit number, floor area, and share in common property
5. Purchase Price: Statement of the agreed purchase price and payment terms
6. Payment Terms: Detailed breakdown of payment schedule and method of payment
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Vendor's Obligations: Responsibilities and warranties of the seller
9. Purchaser's Obligations: Responsibilities and commitments of the buyer
10. Completion: Terms and procedures for completing the sale and transfer of the property
11. Title and Transfer: Provisions regarding the transfer of title and registration process
12. Representations and Warranties: Standard warranties about the property's condition and ownership
13. Default and Termination: Consequences of default and termination provisions
14. Notices: Process for giving notices under the deed
15. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Foreign Ownership Approval: Required when the purchaser is a foreign national, detailing necessary approvals
2. Mortgage Terms: Included when the purchase involves bank financing
3. Property Management: Special conditions regarding management corporation and maintenance fees
4. Renovation Restrictions: Specific terms about permitted renovations and restrictions
5. Car Park Assignment: Details of any car park lots included in the sale
6. Vacant Possession: Terms for delivery of vacant possession if the unit is currently occupied
7. GST/Tax Provisions: Special provisions regarding tax implications where applicable
1. Property Schedule: Detailed description of the property including floor plan and specifications
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Inventory List: List of fixtures, fittings, and furnishings included in the sale
4. Title Particulars: Copy of the strata title or details from the land office
5. Vendor's Documentation: Copies of required documents from the vendor
6. House Rules: Copy of the condominium's house rules and regulations
7. Maintenance Agreement: Details of maintenance fees and sinking fund contributions
Authors
Real Estate
Property Development
Legal Services
Banking and Financial Services
Property Management
Construction
Insurance
Professional Services
Legal
Real Estate
Sales
Compliance
Property Management
Corporate Services
Documentation
Operations
Risk Management
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Conveyancing Executive
Property Developer
Sales Director
Compliance Officer
Banking Officer
Property Consultant
Real Estate Investment Manager
Title Officer
Contract Administrator
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