Conditional Sale Agreement Land for Malaysia

Conditional Sale Agreement Land Template for Malaysia

A Conditional Sale Agreement for Land in Malaysia is a legally binding document governed by Malaysian law, particularly the National Land Code 1965, that sets out the terms and conditions for the sale and purchase of land where the completion is subject to fulfillment of specific conditions. The agreement details the property specifications, purchase price, payment terms, conditions precedent, and obligations of both parties. It provides legal protection for both the vendor and purchaser while ensuring compliance with Malaysian land law requirements and local state regulations.

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What is a Conditional Sale Agreement Land?

The Conditional Sale Agreement Land is a crucial legal instrument in Malaysian property transactions, used when the sale and purchase of land is contingent upon fulfilling specific conditions before the sale becomes absolute. This document is essential in situations where certain prerequisites must be met, such as obtaining regulatory approvals, securing financing, or resolving title issues. The agreement is governed by Malaysian law, particularly the National Land Code 1965 and relevant state land rules, and must comply with local requirements for land dealings. It includes detailed provisions about the property, payment terms, conditions precedent, completion requirements, and the rights and obligations of all parties involved. The document is particularly important in protecting both parties' interests during the period between signing and the fulfillment of all conditions.

What sections should be included in a Conditional Sale Agreement Land?

1. Parties: Identification of the Vendor and Purchaser with full names, identification numbers, and addresses

2. Background: Recitals stating the Vendor's ownership of the property and intention to sell, and the Purchaser's intention to buy subject to conditions

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

4. Sale and Purchase: Core agreement for the sale and purchase of the property, including the purchase price

5. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes absolute

6. Payment Terms: Detailed structure of payment including deposits, progressive payments, and completion sum

7. Property State and Condition: Warranties regarding the current state and condition of the property

8. Title and Ownership: Details of the property's title, ownership status, and encumbrances

9. Completion: Process and requirements for completing the sale after conditions are met

10. Default and Termination: Consequences of default and circumstances for termination

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

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

What sections are optional to include in a Conditional Sale Agreement Land?

1. Third Party Consents: Required when the property sale needs approval from authorities or other parties

2. Developer's Consent: Needed when the property is still under developer's control or has developer's interest

3. Bank's Consent: Required when the property has existing charges or mortgages

4. Vacant Possession: Include when immediate vacant possession is part of the agreement

5. Tenancies: Required when the property is subject to existing tenancies

6. Special Conditions: For any unique requirements or conditions specific to the transaction

7. Tax Provisions: Detailed tax obligations when complex tax matters are involved

8. Assignment Clause: Include when rights of assignment need to be specifically addressed

What schedules should be included in a Conditional Sale Agreement Land?

1. Schedule 1 - Property Details: Detailed description of the property including lot number, title details, and land area

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

3. Schedule 3 - Title Particulars: Complete details of the land title, including restrictions in interest and encumbrances

4. Schedule 4 - Conditions Precedent: Detailed list of all conditions that must be fulfilled

5. Schedule 5 - Vendor's Warranties: List of warranties given by the vendor regarding the property

6. Appendix A - Property Plans: Plans, drawings, or maps of the property

7. Appendix B - Title Documents: Copies of relevant title documents

8. Appendix C - Completion Documents: List of documents required for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Sale Agreement

Cost

Free to use
Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Agriculture

Industrial

Commercial Property

Residential Property

Mining

Hospitality

Relevant Teams

Legal

Real Estate

Property Development

Compliance

Sales

Land Administration

Corporate Affairs

Finance

Investment

Operations

Relevant Roles

Legal Counsel

Property Lawyer

Real Estate Manager

Land Officer

Property Developer

Real Estate Agent

Contract Manager

Compliance Officer

Property Investment Manager

Land Administrator

Real Estate Director

Legal Manager

Development Manager

Asset 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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