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Sell Lease Agreement

Sell Lease Agreement Template for Malaysia

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Key Requirements PROMPT example:

Sell Lease Agreement

"I need a Sell Lease Agreement for our manufacturing facility in Penang, Malaysia, where we plan to sell the property to a REIT for RM 15 million and lease it back for 10 years starting March 2025, with an option to extend for two additional 5-year terms."

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Document background
The Sell Lease Agreement is a sophisticated legal instrument used in Malaysian property transactions where an owner sells their property while simultaneously agreeing to lease it back from the purchaser. This arrangement is particularly useful for businesses looking to free up capital while maintaining operational continuity, or for property owners seeking to monetize their assets while retaining possession and use. The document must comply with Malaysian property law requirements, including the National Land Code 1965 and Contracts Act 1950, and typically includes detailed provisions for both the sale transaction and the subsequent lease terms. It's commonly used in commercial real estate, industrial properties, and retail sectors, providing a structured approach to sale-leaseback transactions while ensuring all legal and practical aspects of both sale and lease are properly documented and enforced.
Suggested Sections

1. Parties: Identification and details of the Seller/Lessor and Buyer/Lessee

2. Background: Context of the transaction, including property details and intention for sale and leaseback

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

4. Sale Provisions: Terms and conditions of the sale, including purchase price and completion requirements

5. Lease Terms: Core terms of the leaseback arrangement including duration and rental amounts

6. Payment Terms: Details of payment for both sale and lease components, including payment schedule

7. Property Handover: Procedures for property handover after sale and continuation of possession under lease

8. Maintenance and Repairs: Responsibilities for property maintenance and repairs during the lease period

9. Insurance: Insurance requirements for both parties

10. Default and Remedies: Consequences of default under either sale or lease provisions

11. Termination: Conditions and procedures for termination of the lease

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

13. Notices: Process for serving notices between parties

14. Execution: Formal execution block for signing by all parties

Optional Sections

1. Property Use Restrictions: Specific restrictions on property use, required for commercial properties or properties in regulated zones

2. Environmental Matters: Environmental warranties and obligations, relevant for industrial properties

3. Assignment and Subletting: Terms for transferring lease rights, if permitted

4. Renovation and Alterations: Terms for making changes to the property, important for commercial properties

5. Service Charges: Additional charges beyond rent, relevant for properties in managed buildings

6. Break Clause: Early termination options, if agreed between parties

7. Option to Purchase: Terms for lessee to repurchase property, if this option is included

8. GST Provisions: Required if the transaction is subject to Goods and Services Tax

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including lot number, title details, and location

2. Schedule 2 - Purchase Price and Payment Terms: Breakdown of purchase price and payment schedule for the sale

3. Schedule 3 - Rental Terms: Detailed rental payment schedule and terms

4. Schedule 4 - Condition Report: Detailed report of property condition at time of sale

5. Schedule 5 - Permitted Use: Specific details of how the property may be used during the lease period

6. Schedule 6 - Special Conditions: Any special conditions or requirements specific to this agreement

7. Appendix A - Property Plans: Floor plans and property drawings

8. Appendix B - Maintenance Schedule: Detailed maintenance responsibilities and schedules

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
Clauses
Sale and Purchase
Property Transfer
Purchase Price
Payment Terms
Lease Grant
Rental Payments
Security Deposit
Property Condition
Representations and Warranties
Due Diligence
Title and Ownership
Possession and Use
Maintenance and Repairs
Insurance
Property Tax
Utilities
Assignment and Subletting
Default and Remedies
Force Majeure
Termination
Stamp Duty
Registration
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Confidentiality
Indemnification
Property Access
Compliance with Laws
Environmental Matters
Building Rules
Alterations and Improvements
Relevant Industries

Commercial Real Estate

Industrial

Retail

Healthcare

Education

Hospitality

Manufacturing

Logistics

Banking and Financial Services

Real Estate Investment Trusts (REITs)

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk and Compliance

Treasury

Property Management

Asset Management

Investment

Relevant Roles

Real Estate Director

Property Manager

Legal Counsel

Chief Financial Officer

Asset Manager

Facilities Manager

Investment Manager

Commercial Director

Operations Director

Risk Manager

Corporate Treasurer

Property Development Manager

Compliance Officer

Real Estate Investment Manager

Industries
National Land Code 1965: The primary legislation governing land matters in Malaysia, including property transactions, registration of titles, and dealings in land
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including essential elements like offer, acceptance, and consideration
Stamp Act 1949: Regulates the stamping requirements and duties payable on property documents and agreements
Civil Law Act 1956: Contains provisions relating to leases and property law, particularly in commercial contexts
Distress Act 1951: Relevant for landlord-tenant relationships and the recovery of rent
Real Property Gains Tax Act 1976: Governs the taxation aspects of property disposal in Malaysia
Strata Titles Act 1985: Relevant if the property involved is a subdivided building or falls under strata title
Housing Development (Control and Licensing) Act 1966: Applicable if the property falls under residential development projects
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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