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Purchase Agreement Improved Property
"I need a Purchase Agreement Improved Property for a commercial office building in Kuala Lumpur, valued at RM 5.5 million, with completion scheduled for March 2025, and specific provisions for the transfer of existing maintenance contracts."
1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses
2. Background: Recitals explaining the context of the sale, including brief property description and parties' intention to enter into the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including lot number, title details, and precise location
5. Purchase Price: Statement of the agreed purchase price and payment terms including deposit and completion amounts
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of late 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 delivery of vacant possession and documentation
9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and due diligence
10. Completion: Requirements and procedure for completion of the sale
11. Title and Transfer: Provisions regarding transfer of title and registration requirements
12. Default and Termination: Consequences of default by either party and termination provisions
13. Notices: Method and addresses for serving notices between parties
14. Governing Law: Specification of Malaysian law as governing law and jurisdiction
15. Execution: Formal execution block for signing by parties and witnesses
1. Strata Title Provisions: Required when the property is a strata-titled property, including provisions about management corporation and service charges
2. Tenancy Provisions: Required when the property is sold with existing tenants, detailing handling of tenancy and rental deposits
3. Bank Financing: Required when purchaser is obtaining bank financing, including conditions related to loan approval and disbursement
4. Property Condition: Detailed provisions about the condition of buildings and fixtures when selling improved property with specific features or concerns
5. Development Requirements: Required when property is part of a development project with ongoing obligations or restrictions
6. GST Provisions: Required when the transaction is subject to Goods and Services Tax
7. Foreign Investment: Required when purchaser is a foreign entity, including compliance with Foreign Investment Committee requirements
1. Schedule 1: Property Details: Comprehensive description of the property including exact measurements, boundaries, and title particulars
2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms including all installments and due dates
3. Schedule 3: Property Inventory: List of fixtures, fittings, and other items included in the sale
4. Schedule 4: Outstanding Charges: List of all outstanding charges, taxes, and assessments affecting the property
5. Schedule 5: Title Conditions: Copy of title conditions, restrictions, and encumbrances
6. Appendix A: Property Documents: Copies of relevant property documents including latest quit rent and assessment receipts
7. Appendix B: Property Plans: Certified plans of the property including building plans and location plans
8. Appendix C: Photographs: Recent photographs of the property documenting its current condition
Authors
Bank
Building
Completion Date
Completion Notice
Deposit
Effective Date
Encumbrance
Financial Institution
Identity Card
Land Office
Legal Fee
Local Authority
Material Breach
Original Title
Party
Payment Schedule
Permitted Use
Property
Purchase Price
Purchaser
Registration Fee
Sale Land
Schedule
Stamp Duty
State Authority
Title
Transfer
Vacant Possession
Vendor
Working Day
Charge
Consideration
Fixtures
Improvements
Land Revenue
Property Tax
Quit Rent
Title Search
Valuation Report
Property Description
Purchase Price
Payment Terms
Completion
Title Transfer
Representations and Warranties
Conditions Precedent
Due Diligence
Vacant Possession
Property Inspection
Encumbrances
Default
Termination
Force Majeure
Assignment
Notices
Costs and Expenses
Stamp Duty
Registration
Governing Law
Dispute Resolution
Entire Agreement
Severability
Time of Essence
Confidentiality
Further Assurance
Property Tax
Insurance
Utilities Transfer
Land Use
Building Compliance
Access Rights
Environmental Matters
Risk and Liability
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Property Management
Professional Services
Commercial Property
Residential Property
Investment and Asset Management
Public Sector
Legal
Real Estate
Compliance
Business Development
Property Management
Facilities Management
Risk Management
Corporate Affairs
Investment
Operations
Finance
Administration
Legal Counsel
Real Estate Lawyer
Property Manager
Real Estate Agent
Property Developer
Contract Manager
Compliance Officer
Business Development Manager
Investment Manager
Property Valuer
Facilities Manager
Transaction Manager
Risk Manager
Corporate Lawyer
Company Secretary
Chief Legal Officer
Real Estate Director
Asset Manager
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