Commercial Real Estate Contract Template for Malaysia

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Key Requirements PROMPT example:

Commercial Real Estate Contract

"I need a Commercial Real Estate Contract for the purchase of a 50,000 square foot industrial warehouse in Penang, Malaysia, with completion scheduled for March 2025, including specific provisions for existing tenant transfer and environmental compliance requirements."

Document background
The Commercial Real Estate Contract serves as the primary legal instrument for commercial property transactions in Malaysia. It is essential when purchasing or selling any type of commercial real estate, including office buildings, retail spaces, industrial properties, and mixed-use developments. The document must comply with Malaysian legal requirements, particularly the National Land Code 1965, Contracts Act 1950, and relevant state legislation. It includes crucial elements such as property details, payment terms, conditions precedent, warranties, and completion requirements. This contract type is specifically designed to address the complexities of commercial property transactions, including title transfers, existing tenancies, development restrictions, and local authority requirements. It provides comprehensive protection for both parties while ensuring all regulatory and legal obligations are met under Malaysian law.
Suggested Sections

1. Parties: Identification of the vendor/seller and purchaser/buyer with full legal names and registration details

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

3. Definitions: Defined terms used throughout the agreement

4. Sale and Purchase: Core transaction terms including purchase price and basic property details

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

6. Purchase Price: Detailed breakdown of the purchase price, payment terms and schedule

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

8. Completion: Requirements and procedures for completing the transaction

9. Vendor's Warranties: Warranties regarding property title, condition, and other representations

10. Purchaser's Warranties: Warranties regarding capacity to purchase and funding

11. Title and Transfer: Provisions relating to clean title transfer and registration

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

13. Notices: Process for serving formal notices between parties

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

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Tenancies: Required if the property is sold subject to existing tenancies

2. Development Conditions: Required if the property is under development or requires specific development approvals

3. Environmental Matters: Required if there are specific environmental concerns or requirements

4. Service Contracts: Required if there are ongoing service contracts to be transferred

5. GST Provisions: Required if the transaction is subject to GST

6. Strata Title Provisions: Required for properties under strata title

7. Planning Permissions: Required if specific planning permissions are relevant to the property

8. Joint Venture Provisions: Required if the purchase involves a joint venture arrangement

9. Foreign Investment Provisions: Required if the purchaser is a foreign entity

Suggested Schedules

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

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

3. Title Documents: Copies of relevant title documents and searches

4. Existing Tenancies: Details of current tenancies and lease agreements

5. Property Condition Report: Current condition of the property and any defects

6. Service Contracts Schedule: List of transferring service contracts

7. Planning Permissions: Copies of relevant planning permissions and certificates

8. Property Plans: Floor plans, site plans, and other relevant drawings

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

10. Form 14A: Statutory transfer form under the National Land Code

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

Relevant legal definitions
Clauses
Relevant Industries

Commercial Real Estate

Retail

Office Space

Industrial

Hospitality

Mixed-Use Development

Logistics

Healthcare Facilities

Educational Facilities

Banking and Finance

Manufacturing

Warehouse and Distribution

Technology Parks

Relevant Teams

Legal

Real Estate

Property Management

Finance

Operations

Compliance

Risk Management

Business Development

Facilities Management

Asset Management

Investment

Corporate Affairs

Relevant Roles

Real Estate Director

Property Manager

Commercial Lawyer

Legal Counsel

Property Development Manager

Facilities Manager

Asset Manager

Investment Manager

Chief Financial Officer

Real Estate Agent

Property Valuer

Business Development Director

Risk Manager

Compliance Officer

Operations Director

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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