Deed Of Sale Condominium Template for Malaysia

The Deed of Sale Condominium is a crucial legal instrument used in Malaysian property transactions for the transfer of stratified properties. This document is essential when selling or purchasing a condominium unit in Malaysia, ensuring compliance with the Strata Titles Act 1985, National Land Code 1965, and other relevant property laws. It contains detailed provisions regarding the property's specifications, payment terms, warranties, and obligations of both parties, while addressing specific requirements for strata properties such as common property rights and management corporation rules. The deed serves as the primary evidence of the transaction and must be properly executed and stamped according to Malaysian law to be legally effective.

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

2. Background: Recitals establishing the Vendor's ownership, property details, and intention to sell

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

4. Property Details: Comprehensive description of the condominium unit, including strata title details, floor area, and floor level

5. Purchase Price: Statement of the agreed purchase price and payment structure

6. Payment Terms: Detailed breakdown of payment schedule, deposit, and completion payments

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

8. Vendor's Obligations: Responsibilities and warranties of the seller including title guarantee and property condition

9. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and compliance with strata regulations

10. Completion: Requirements and procedures for completing the sale transaction

11. Title and Transfer: Provisions regarding the transfer of strata title and registration procedures

12. Common Property Rights: Rights and obligations regarding common areas and facilities

13. Vacant Possession: Terms and conditions for delivering vacant possession

14. Representations and Warranties: Standard warranties about the property's condition and legal status

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