Commercial Real Estate Purchase And Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

Commercial Real Estate Purchase And Sale Agreement

"I need a Commercial Real Estate Purchase And Sale Agreement for acquiring a 10-story office building in Kuala Lumpur's central business district, with existing tenants who will remain after the purchase, planned for completion by March 2025."

Document background
The Commercial Real Estate Purchase And Sale Agreement is a crucial document used in Malaysian property transactions when transferring ownership of commercial real estate between parties. It is essential for significant business transactions involving office buildings, retail spaces, industrial properties, and other commercial real estate assets. The agreement must comply with Malaysian legal requirements, including the National Land Code 1965, Contracts Act 1950, and relevant state-specific regulations. It contains detailed provisions covering property description, purchase price, payment terms, due diligence requirements, warranties, and completion procedures. This document is particularly important for ensuring legal certainty in high-value commercial property transactions and protecting the interests of both vendors and purchasers under Malaysian law.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names and registration details

2. Background: Recitals explaining the context of the transaction and basic premise of the agreement

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

4. Property Description: Detailed description of the commercial property including lot number, title details, and exact boundaries

5. Purchase Price: Statement of the purchase price and payment terms including deposit and balance payment schedules

6. Conditions Precedent: Conditions that must be satisfied before the agreement becomes fully effective

7. Due Diligence: Terms regarding the purchaser's right to investigate the property and related documentation

8. Representations and Warranties: Statements of fact and promises made by both parties regarding the property and their capacity to enter into the agreement

9. Completion: Requirements and procedures for closing the transaction

10. Title and Transfer: Provisions regarding transfer of title and registration requirements

11. Default and Termination: Consequences of default and circumstances allowing termination

12. Notices: Methods and addresses for formal communications between parties

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

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Foreign Investment Approval: Required when purchaser is a foreign entity, detailing necessary approvals and conditions

2. Tenancies: Required when property is subject to existing tenancies, describing treatment of leases

3. Environmental Matters: Required when property has potential environmental issues or requires specific compliance

4. GST/Tax Provisions: Detailed tax treatments when specific tax considerations apply

5. Property Management: Required for properties with ongoing management requirements during transition

6. Development Approvals: Required when property has pending or required development approvals

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

8. Vendor Finance: Required when seller is providing financing for the purchase

Suggested Schedules

1. Property Schedule: Detailed property information including lot numbers, title details, and encumbrances

2. Payment Schedule: Breakdown of payment terms, amounts, and timing

3. Due Diligence Checklist: List of required documents and investigations

4. Existing Tenancies: Details of current lease agreements and tenant information

5. Property Inventory: List of included fixtures, fittings, and equipment

6. Outstanding Works: List of repairs or improvements to be completed before closing

7. Required Approvals: List of necessary governmental and regulatory approvals

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

9. Title Search Results: Recent land title search results and encumbrance information

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

Real Estate

Commercial Property

Retail

Industrial

Office Space

Hospitality

Healthcare

Manufacturing

Warehousing

Logistics

Banking and Finance

Professional Services

Education

Relevant Teams

Legal

Real Estate

Finance

Compliance

Risk Management

Operations

Facilities Management

Business Development

Investment

Property Management

Corporate Affairs

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Corporate Lawyer

Commercial Director

Investment Manager

Asset Manager

Facilities Manager

Development Manager

Acquisition Manager

Real Estate Analyst

Finance Director

Risk Manager

Compliance Officer

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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