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Deed Of Sale Agreement

Deed Of Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Sale Agreement

"I need a Deed of Sale Agreement for a commercial property in Kuala Lumpur, with completion scheduled for March 2025, including specific provisions for existing tenant agreements and building renovation permissions."

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Document background
The Deed of Sale Agreement is a crucial legal instrument used in Malaysian property transactions to facilitate and document the transfer of real property ownership. This formal document is essential when conducting property sales in Malaysia, whether for residential, commercial, or industrial properties. It must comply with various Malaysian legislations, including the National Land Code 1965, Contracts Act 1950, and Stamp Act 1949. The deed comprehensively outlines the terms of sale, property details, parties' obligations, warranties, and completion requirements. It serves multiple purposes: legally transferring property ownership, protecting both parties' interests, ensuring compliance with regulatory requirements, and providing clear evidence of the transaction terms. The document is particularly important as it forms the basis for property registration with the land office and determines stamp duty obligations.
Suggested Sections

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

2. Background/Recitals: Context of the sale, brief description of the property, and intention of the parties to enter into the sale transaction

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price

5. Property Description: Detailed description of the property including title details, lot number, and built-up area

6. Purchase Price and Payment Terms: Breakdown of purchase price, payment schedule, and method of payment

7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale

8. Vendor's Warranties: Warranties regarding title, encumbrances, and property condition

9. Completion: Completion date, venue, and obligations of parties at completion

10. Title and Registration: Provisions relating to transfer of title and registration requirements

11. Stamp Duty and Costs: Responsibility for stamp duty, registration fees, and other costs

12. Risk and Insurance: Transfer of risk and insurance obligations

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

14. Notices: Method and addresses for serving notices

15. Governing Law and Jurisdiction: Confirmation of Malaysian law as governing law and jurisdiction

Optional Sections

1. Foreign Ownership Approval: Required if the purchaser is a foreign national or entity, addressing Foreign Investment Committee requirements

2. Strata Title Provisions: Required for apartments or condominiums, addressing management corporation and maintenance fees

3. Tenancy Provisions: Required if the property is currently tenanted, addressing existing tenancy agreements

4. Developer's Consent: Required if the property is under restriction of developer's interest

5. GST/Tax Provisions: Detailed tax provisions if applicable to the transaction

6. Renovation and Fixtures: Special provisions regarding existing renovations or fixtures if relevant

7. Car Park Provisions: Required for properties with designated parking spaces

8. Force Majeure: Provisions dealing with unforeseen circumstances preventing completion

Suggested Schedules

1. Property Schedule: Detailed property particulars including title details, boundaries, and area

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

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

4. Form of Transfer: Prescribed form for transfer of title under the National Land Code

5. Existing Encumbrances: Details of any existing charges, caveats, or other encumbrances

6. Completion Documents: List of documents required for completion

7. Property Condition Report: Detailed report on the condition of the property at the time of sale

8. Regulatory Approvals: Copies of relevant permits and approvals

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Completion
Completion Date
Deposit
Encumbrances
Identity Card
Land Office
Land Title
Party
Parties
Permitted Use
Property
Purchase Price
Purchaser
Registration Fee
Sale
Schedule
Stamp Duty
Title Deed
Transfer
Transfer Date
Vendor
Working Day
Warranties
Balance Purchase Price
Completion Documents
Due Diligence
Effective Date
Execution Date
Interest Rate
Legal Fees
Notice
Payment Terms
Possession
Property Tax
Purchase Consideration
Quit Rent
Assessment Rate
Registration
State Authority
Strata Title
Term
Title Particulars
Transaction
Vacant Possession
Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Housing Development

Commercial Property

Residential Property

Industrial Property

Investment and Asset Management

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Sales

Business Development

Risk Management

Corporate Secretarial

Finance

Operations

Relevant Roles

Legal Counsel

Property Lawyer

Real Estate Agent

Property Manager

Conveyancing Executive

Company Director

Company Secretary

Real Estate Developer

Investment Manager

Asset Manager

Compliance Officer

Property Consultant

Sales Director

Business Development Manager

Risk Manager

Industries
National Land Code 1965: The primary legislation governing land matters in Malaysia, including property transactions, registration, and transfer of ownership. It sets out the procedures and requirements for property dealings.
Contracts Act 1950: Provides the legal framework for contract formation, validity, and enforcement in Malaysia. It governs the essential elements of a valid contract including offer, acceptance, consideration, and capacity.
Stamp Act 1949: Mandates the stamping requirements and duties payable on instruments including sale and purchase agreements. Determines the stamp duty rates applicable to property transactions.
Registration of Deeds Act 1949: Governs the registration of deeds and instruments affecting land and property in Malaysia, ensuring legal recognition and enforcement.
Strata Titles Act 1985: Relevant if the property is a stratified property (apartment/condominium). Governs the subdivision of buildings into parcels and the issuance of strata titles.
Housing Development (Control and Licensing) Act 1966: Applicable if the property is a residential property from a housing developer. Protects buyers' interests in housing developments.
Real Property Gains Tax Act 1976: Imposes tax on gains from the disposal of real properties in Malaysia. Important for both parties to understand tax implications.
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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