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Transfer Of Sale Agreement
"I need a Transfer of Sale Agreement for a commercial property in Kuala Lumpur, Malaysia, with completion scheduled for March 2025, including specific provisions for existing tenant agreements and maintenance contracts that will transfer to the new owner."
1. Parties: Identifies and defines all parties to the agreement, including full legal names, identification numbers, and addresses of the vendor and purchaser
2. Background: Provides context for the agreement, including brief history of the property ownership and purpose of the transfer
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Details: Comprehensive description of the property being transferred, including title details, lot number, and location
5. Purchase Price: States the agreed purchase price and payment terms, including deposit and completion payment details
6. Conditions Precedent: Lists conditions that must be fulfilled before the transfer can be completed
7. Completion: Details the completion process, including timing, location, and requirements for transfer
8. Vendor's Warranties: Warranties given by the vendor regarding the property's title, condition, and encumbrances
9. Purchaser's Warranties: Warranties given by the purchaser regarding their capacity to purchase and financial ability
10. Transfer and Registration: Procedures for executing and registering the transfer at the land office
11. Costs and Expenses: Allocation of costs including stamp duty, registration fees, and legal fees
12. Notices: Procedures for giving notices under the agreement
13. Governing Law: Specifies Malaysian law as governing law and jurisdiction
14. Execution: Formal execution clause and signing requirements
1. Condition of Property: Detailed section about property condition, used when selling property as-is or with specific known issues
2. Existing Tenancies: Required when the property is subject to ongoing tenancies that will continue after transfer
3. Bank Consent: Needed when the property has an existing charge or mortgage requiring bank's consent for transfer
4. Strata Title Provisions: Required for apartments or condominiums under strata title
5. Developer's Consent: Needed when the property is still under developer's restriction period
6. GST/Tax Provisions: Detailed tax provisions when the transaction is subject to GST or specific tax requirements
7. Foreign Investment Approval: Required when purchaser is a foreign entity or person
1. Schedule 1 - Property Description: Detailed technical description of the property including boundaries, measurements, and title particulars
2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment terms, installments, and due dates
3. Schedule 3 - Inventory List: List of fixtures, fittings, and other items included in the sale
4. Schedule 4 - Outstanding Charges: Details of any existing charges, caveats, or encumbrances on the property
5. Schedule 5 - Completion Requirements: Checklist of documents required for completion
6. Appendix A - Copy of Title Deed: Copy of the original title deed or strata title
7. Appendix B - Property Plans: Relevant floor plans, site plans, or location maps
8. Appendix C - Relevant Permits: Copies of relevant permits, certificates, or approvals
Authors
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Commercial Property
Residential Property
Industrial Property
Retail
Hospitality
Agriculture (for agricultural land)
Manufacturing (for industrial property)
Legal
Real Estate
Property Management
Compliance
Corporate Secretarial
Finance
Operations
Asset Management
Risk Management
Facilities Management
Investment
Administration
Legal Counsel
Property Lawyer
Real Estate Manager
Property Development Manager
Conveyancing Executive
Corporate Lawyer
Property Agent
Real Estate Broker
Land Administrator
Company Secretary
Compliance Officer
Contract Manager
Property Investment Manager
Asset Manager
Facilities Manager
Real Estate Director
Chief Legal Officer
Property Portfolio Manager
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