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Legal Real Estate Contract Template for Malaysia

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Key Requirements PROMPT example:

Legal Real Estate Contract

"I need a Legal Real Estate Contract for purchasing a residential property in Kuala Lumpur, Malaysia, with completion scheduled for March 15, 2025; the contract should include standard payment terms with a 10% deposit."

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Document background
The Legal Real Estate Contract is a fundamental document in Malaysian property transactions, essential for both residential and commercial property transfers. It serves as the primary legal instrument for documenting property sales and purchases in Malaysia, incorporating requirements from the National Land Code 1965, Contracts Act 1950, and relevant state enactments. This document is used whenever real estate property is bought or sold in Malaysia, whether between individual parties or corporate entities. The contract must comply with strict legal requirements and typically includes detailed property descriptions, price and payment terms, conditions precedent, warranties, and completion procedures. It's particularly important as land matters in Malaysia are governed by both federal and state laws, requiring careful consideration of jurisdictional requirements.
Suggested Sections

1. Parties: Identification and details of the vendor and purchaser, including their full names, identification numbers, and addresses

2. Background: Context of the transaction and brief description of the property being transferred

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

4. Property Details: Comprehensive description of the property including lot number, title details, and exact measurements

5. Purchase Price: Agreed purchase price and payment terms including deposit and completion amounts

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 vendor including delivering vacant possession

9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and due diligence

10. Completion: Details of the completion process, timing, and requirements

11. Default: Consequences of default by either party and remedies available

12. Notices: Method and addresses for serving notices between parties

13. Governing Law: Specification of Malaysian law as governing law and jurisdiction

Optional Sections

1. Existing Tenancies: Details of any existing tenancies if the property is sold with sitting tenants

2. Foreign Investment Approval: Required when the purchaser is a foreign entity or individual

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

4. GST/Tax Provisions: Specific tax-related provisions if applicable to the transaction

5. Strata Title Provisions: Additional provisions for apartments or condominiums under strata title

6. Development Orders: For properties subject to ongoing or future development plans

7. Environmental Provisions: For properties with environmental considerations or restrictions

Suggested Schedules

1. Property Schedule: Detailed property description including boundaries, measurements, and title particulars

2. Payment Schedule: Detailed breakdown of payment terms and milestone payments

3. Inventory List: List of fixtures, fittings, and other items included in the sale

4. Title Documents: Copies of relevant title documents and land office searches

5. Existing Encumbrances: Details of any existing charges, caveats, or other encumbrances

6. Completion Documents: List of documents required for completion

7. Property Conditions: Current condition report and any identified defects

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





































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Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Investment

Urban Planning

Housing Development

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Business Development

Investment

Finance

Operations

Risk Management

Document Management

Relevant Roles

Legal Counsel

Real Estate Lawyer

Property Manager

Real Estate Agent

Property Developer

Conveyancing Executive

Land Officer

Compliance Officer

Contract Manager

Property Valuer

Investment Manager

Real Estate Investment Director

Bank Manager

Property Acquisition 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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