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House Purchase Contract

House Purchase Contract Template for Malaysia

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Key Requirements PROMPT example:

House Purchase Contract

"I need a House Purchase Contract for a double-story terrace house in Petaling Jaya, Malaysia, with completion scheduled for March 2025, including provisions for an existing tenant who will remain in the property for 6 months after completion."

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Document background
The House Purchase Contract is a fundamental legal document used in Malaysian property transactions for the sale and purchase of residential properties. It is essential for both private sales and developer transactions, incorporating mandatory provisions required by Malaysian law, particularly the National Land Code 1965 and the Housing Development (Control and Licensing) Act 1966. This document should be used whenever there is a transfer of residential property ownership in Malaysia, whether for landed properties or strata titles. It covers crucial elements including property details, purchase price, payment terms, conditions precedent, warranties, and completion requirements. The contract must comply with state-specific requirements and may need adaptation based on whether the property is under construction, completed, or sub-sale.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser

2. Background: Context of the sale and brief description of the property

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

4. Sale and Purchase: Core agreement to sell and purchase the property, including purchase price

5. Property Details: Comprehensive description of the property including title details and encumbrances

6. Purchase Price and Payment Terms: Detailed breakdown of the purchase price and payment schedule

7. Conditions Precedent: Conditions that must be fulfilled before completion

8. Vendor's Obligations: Obligations and warranties provided by the vendor

9. Purchaser's Obligations: Obligations and commitments of the purchaser

10. Completion: Process and requirements for completion of the sale

11. Title and Transfer: Provisions regarding transfer of title and registration

12. Default and Termination: Consequences of default and termination rights

13. Notices: Process for giving notices under the agreement

14. Governing Law and Jurisdiction: Confirmation of Malaysian law and jurisdiction

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Strata Title Provisions: Additional provisions for apartments or condominiums

2. Mortgage and Financing: Specific provisions when property is being financed through a mortgage

3. Vacant Possession: Specific provisions regarding timing and conditions of vacant possession

4. Property Management: For properties within managed developments or with shared facilities

5. Construction Completion: For properties under construction or newly completed

6. Foreign Ownership: Additional requirements if purchaser is a foreign national

7. Real Property Gains Tax: Specific provisions regarding RPGT if relevant to the transaction

8. Tenancy Provisions: If property is sold with existing tenants

Suggested Schedules

1. Property Description Schedule: Detailed legal and physical description of the property

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Title Particulars: Complete details of the land title and any restrictions

4. Inventory List: List of fixtures, fittings and contents included in the sale

5. Form 14A: Prescribed transfer form under National Land Code

6. Property Condition Report: Detailed report on the condition of the property

7. Compliance Documents: Copies of relevant permits, certificates and approvals

8. Strata Plan: For strata properties, detailed plans and share allocation

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
Relevant legal definitions
































Clauses






























Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Property Management

Insurance

Public Sector (Land Registry)

Relevant Teams

Legal

Real Estate

Conveyancing

Property Management

Sales

Compliance

Finance

Risk Management

Operations

Documentation

Relevant Roles

Real Estate Lawyer

Property Lawyer

Conveyancing Executive

Real Estate Agent

Property Manager

Bank Manager

Mortgage Officer

Property Developer

Legal Counsel

Compliance Officer

Land Registry Officer

Property Valuer

Title Search Specialist

Real Estate Transaction Coordinator

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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