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Commercial Real Estate Purchase Contract for Malaysia

Commercial Real Estate Purchase Contract Template for Malaysia

A comprehensive legal agreement governed by Malaysian law that facilitates the sale and purchase of commercial real estate properties. This document incorporates provisions compliant with the National Land Code 1965 and other relevant Malaysian legislation, detailing the terms and conditions of the property transfer, including purchase price, payment terms, conditions precedent, warranties, and completion requirements. It ensures proper legal transfer of commercial property ownership while addressing specific Malaysian regulatory requirements, local authority compliance, and land office registration procedures.

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Commercial Real Estate Purchase Contract

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What is a Commercial Real Estate Purchase Contract?

The Commercial Real Estate Purchase Contract is a fundamental legal document used in Malaysia for transferring ownership of commercial properties between parties. This document is essential when acquiring or disposing of commercial real estate assets such as office buildings, retail spaces, industrial facilities, or mixed-use developments. It must comply with Malaysian legal requirements, particularly the National Land Code 1965, Contracts Act 1950, and relevant state-specific regulations. The contract covers crucial elements including property details, purchase price, payment terms, conditions precedent, warranties, and completion procedures. It's designed to protect both parties' interests while ensuring the transaction meets all regulatory requirements for property transfers in Malaysia.

What sections should be included in a Commercial Real Estate Purchase Contract?

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

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

3. Definitions and Interpretation: Defined terms and rules of interpretation for the agreement

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

5. Purchase Price: Amount and payment terms including deposit arrangements

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

7. Title and Ownership: Warranties and representations regarding property title

8. Due Diligence: Purchaser's investigation rights and vendor's disclosure obligations

9. Completion: Completion mechanics, timing, and deliverables

10. Post-Completion Obligations: Actions required after completion including registration

11. Warranties and Representations: Standard warranties about the property and authority to sell

12. Default and Termination: Consequences of breach and termination rights

13. Notices: How formal notices must be given between parties

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

15. General Provisions: Standard boilerplate clauses including entire agreement, variation, etc.

What sections are optional to include in a Commercial Real Estate Purchase Contract?

1. Environmental Matters: Required if property has potential environmental issues or specific compliance requirements

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

3. Property Management: Required for multi-tenant commercial buildings with ongoing management needs

4. Development Requirements: Required if property has pending or required development obligations

5. Tax Provisions: Detailed tax arrangements if complex tax implications exist

6. Condition of Property: Detailed provisions about property condition if selling 'as is' or with specific condition requirements

7. Financing Conditions: Required if purchase is contingent on obtaining specific financing

8. Planning and Zoning: Required if specific planning or zoning issues need addressing

9. Service Contracts: Required if property comes with ongoing service contracts to be assumed

What schedules should be included in a Commercial Real Estate Purchase Contract?

1. Property Description: Detailed legal and physical description of the property

2. Title Documents: List of title documents and encumbrances

3. Purchase Price Payment Schedule: Detailed breakdown of payment terms and timing

4. Completion Deliverables: List of documents and items to be delivered at completion

5. Existing Tenancies: Details of any existing lease agreements

6. Property Inventory: List of fixtures, fittings, and equipment included in sale

7. Due Diligence Results: Summary of key due diligence findings

8. Service Contracts: List of ongoing service contracts affecting the property

9. Property Certificates: Copies of relevant certificates and permits

10. Plans and Drawings: Property plans, architectural drawings, and site maps

Authors

Alex Denne

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

Jurisdiction

Malaysia

Document Type

Sale Agreement

Cost

Free to use
Relevant legal definitions












































Clauses







































Relevant Industries

Real Estate

Banking and Finance

Retail

Manufacturing

Hospitality

Healthcare

Technology

Education

Logistics

Professional Services

Industrial

Construction and Development

Relevant Teams

Legal

Real Estate

Finance

Compliance

Operations

Risk Management

Facilities Management

Asset Management

Investment

Property Development

Due Diligence

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Commercial Director

Facilities Manager

Investment Manager

Asset Manager

Development Manager

Risk Manager

Compliance Officer

Finance Director

Operations Director

Property Consultant

Real Estate Analyst

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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