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Land Sales Agreement
"I need a Land Sales Agreement for purchasing a 2-acre commercial plot in Penang, Malaysia, with completion scheduled for March 2025; the agreement should include standard warranties and vacant possession provisions."
1. Parties: Identification and details of the Vendor and Purchaser, including full names, identification numbers, and addresses
2. Background: Context of the sale and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the land including title details, lot number, area, and location
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion amounts
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Vendor's Obligations: Responsibilities and warranties of the vendor including title guarantee and property condition
9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and due diligence
10. Completion: Completion procedures, timing, and requirements
11. Title and Transfer: Provisions regarding transfer of title and registration procedures
12. Default and Termination: Consequences of default and circumstances for termination
13. Notices: Process and requirements for serving notices under the agreement
14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
1. Foreign Investment Approval: Required when purchaser is a foreign entity, detailing necessary approvals and conditions
2. Development Requirements: Included when the land is subject to development conditions or restrictions
3. Agricultural Conditions: Required when the land is agricultural land with specific conditions or restrictions
4. Existing Tenancies: Included when the property is subject to existing tenancies or occupancy rights
5. Planning Permissions: Required when specific planning permissions are relevant to the sale
6. Environmental Matters: Included when environmental issues or compliance requirements are relevant
7. Native Title Claims: Required for properties in areas where native title claims might exist
8. Subdivision Provisions: Included when the land will be subdivided as part of the transaction
1. Property Schedule: Detailed property description including boundary plans and title particulars
2. Payment Schedule: Detailed breakdown of payment terms and installments
3. Title Documents: Copies of relevant title documents and certificates
4. Encumbrances Schedule: List of existing encumbrances, easements, or restrictions on the land
5. Completion Requirements: Checklist of documents and requirements for completion
6. Vendor's Warranties: Detailed list of warranties given by the vendor
7. Property Condition Report: Current condition of any structures or improvements on the land
8. Required Consents: List of necessary consents and approvals required for the sale
Authors
Bank
Business Day
Completion
Completion Date
Deposit
Encumbrances
Identity Card
Land
Land Office
Land Title
Local Authority
Purchase Price
Purchaser
Registration Fees
State Authority
Stamp Duty
Title Deed
Transfer Document
Vendor
Warranties
Requisite Consents
Property
Issue Document of Title
Charge
Caveat
Quit Rent
Assessment Tax
Completion Notice
Default Interest
Vacant Possession
Legal Fees
Land Registry
Restrictive Covenants
Survey Plan
Material Breach
Building Plans
Certificate of Fitness
Permitted Use
Planning Permission
Property Description
Consideration
Payment Terms
Title and Ownership
Representations and Warranties
Conditions Precedent
Due Diligence
Completion
Transfer of Title
Registration
Vendor Obligations
Purchaser Obligations
Property Condition
Encumbrances
Consent Requirements
Default
Termination
Risk and Insurance
Notices
Assignment
Force Majeure
Costs and Expenses
Stamp Duty
Governing Law
Dispute Resolution
Entire Agreement
Severability
Indemnification
Confidentiality
Amendment
Waiver
Time of Essence
Further Assurance
Legal Compliance
Existing Tenancies
Environmental Matters
Planning Requirements
Vacant Possession
Title Registration
Real Estate
Construction
Agriculture
Commercial Development
Residential Development
Industrial Development
Hospitality
Retail
Manufacturing
Infrastructure
Energy
Tourism
Legal
Real Estate
Property Management
Compliance
Corporate Development
Investment
Operations
Facilities Management
Risk Management
Business Development
Finance
Administration
Real Estate Lawyer
Property Manager
Land Officer
Legal Counsel
Compliance Officer
Real Estate Developer
Investment Manager
Property Director
Land Acquisition Manager
Contract Administrator
Real Estate Agent
Development Manager
Corporate Lawyer
Transaction Manager
Property Consultant
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