Purchase And Sale Agreement Extension Form Template for Malaysia

The Purchase And Sale Agreement Extension Form is a crucial document used in Malaysian property transactions when parties need to extend the completion date of their original purchase agreement. This document becomes necessary when circumstances prevent the completion of the transaction within the initially agreed timeframe, whether due to financing delays, regulatory approvals, or other valid reasons. The extension form must comply with Malaysian contract law, particularly the Contracts Act 1950 and the National Land Code 1965, and requires proper stamping under the Stamp Act 1949. It typically includes details of the original agreement, the extended completion date, any additional considerations, and confirmations that other original terms remain in effect. This document is essential for maintaining the legal validity of the transaction while providing flexibility in the completion timeline.

1. Parties: Identification of all parties involved in the original purchase and sale agreement, including their full legal names, registration numbers (if companies), and addresses

2. Background: Reference to the original agreement, its date, and brief description of the need for extension

3. Definitions: Key terms used in the extension agreement, including reference to definitions from the original agreement that remain applicable

4. Extension of Time: Specific details of the extension period, including new completion date and any intermediate deadlines

5. Consideration: Any additional payment or consideration for the extension, if applicable

6. Continuation of Original Terms: Confirmation that all other terms and conditions of the original agreement remain in full force and effect

7. Representations and Warranties: Confirmation that original representations remain true and any new representations specific to the extension

8. Effective Date: Specification of when the extension takes effect

9. Governing Law: Confirmation that Malaysian law governs the extension agreement

10. Execution: Signature blocks for all parties and witnesses