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Commercial Property Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

Commercial Property Purchase Agreement

"I need a Commercial Property Purchase Agreement for acquiring a multi-story office building in Kuala Lumpur's business district, with completion scheduled for March 2025, including provisions for existing tenants and building maintenance contracts."

Document background
The Commercial Property Purchase Agreement is a crucial legal instrument used in Malaysian commercial real estate transactions. It is essential when acquiring or disposing of commercial properties such as office buildings, retail spaces, industrial facilities, or mixed-use developments. The document incorporates requirements from Malaysian property law, including the National Land Code 1965, Contracts Act 1950, and relevant state regulations. It provides a comprehensive framework covering property details, purchase terms, due diligence requirements, completion procedures, and post-completion obligations. This agreement is particularly important as it ensures legal compliance while protecting both parties' interests in what is typically a high-value transaction.
Suggested Sections

1. Parties: Identification of the vendor and purchaser, including registration details for companies or NRIC for individuals

2. Background: Context of the transaction and brief description of the property being sold

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

4. Sale and Purchase: Core agreement to sell and purchase the property at the agreed price

5. Purchase Price: Details of the purchase price and payment terms including deposit and balance

6. Conditions Precedent: Conditions that must be fulfilled before completion can occur

7. Property Condition: Current state of the property and any warranties regarding its condition

8. Title and Ownership: Confirmation of vendor's ownership and guarantee of clear title

9. Due Diligence: Purchaser's right to conduct investigations and timing

10. Completion: Requirements and procedures for completing the transaction

11. Post-Completion Obligations: Actions required after completion, including registration of transfer

12. Default and Termination: Consequences of default and circumstances allowing termination

13. Representations and Warranties: Standard warranties given by both parties

14. Notices: How formal notices between parties should be given

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

16. General Provisions: Standard boilerplate clauses including entire agreement, variations, etc.

Optional Sections

1. Foreign Investment Approval: Required when purchaser is a foreign entity requiring regulatory approval

2. Tenancies: Required when property is sold subject to existing tenancies

3. Planning and Development: Required when property involves ongoing or planned development works

4. Environmental Matters: Required for industrial properties or where environmental issues are relevant

5. Service Contracts: Required when property comes with ongoing service contracts to be transferred

6. Employee Matters: Required when property sale includes transfer of employees

7. Intellectual Property: Required when sale includes trading names or other IP associated with the property

8. Tax Structure: Required when special tax considerations apply to the transaction

Suggested Schedules

1. Property Description: Detailed description of the property including title particulars and plan

2. Purchase Price Payment Schedule: Breakdown of payment instalments and timing

3. Completion Requirements: Detailed list of documents required for completion

4. Vendor's Deliverables: List of items to be delivered by vendor at completion

5. Existing Tenancies: Details of any existing lease agreements

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

7. Outstanding Repairs: List of agreed repairs to be completed before completion

8. Title Documents: Copies of relevant title documents and encumbrances

9. Due Diligence Results: Summary of key findings from due diligence investigations

10. Regulatory Approvals: Copies of required governmental or regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses






























Relevant Industries

Real Estate

Banking & Finance

Legal Services

Property Development

Retail

Manufacturing

Hospitality

Healthcare

Education

Logistics

Technology

Professional Services

Relevant Teams

Legal

Real Estate

Finance

Compliance

Operations

Facilities Management

Business Development

Investment

Risk Management

Property Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Corporate Lawyer

Real Estate Agent

Property Consultant

Facilities Manager

Investment Manager

Asset Manager

Development Manager

Compliance Officer

Finance Director

Commercial Director

Industries










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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