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Contract For Buying A House Template for Malaysia

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Key Requirements PROMPT example:

Contract For Buying A House

"I need a Contract For Buying A House for a double-story terrace house in Petaling Jaya, Malaysia, with a completion date of March 15, 2025, including provisions for existing tenant transition and renovation permissions."

Document background
A Contract For Buying A House is a fundamental legal document used in Malaysian property transactions when transferring ownership of residential property from seller to buyer. This document is essential for all residential property purchases in Malaysia, whether dealing with landed properties or strata titles. It must comply with Malaysian property laws, including the National Land Code 1965, Contracts Act 1950, and Housing Development Act 1966. The contract includes crucial details such as property specifications, purchase price, payment terms, conditions precedent, and completion requirements. It also addresses legal obligations, warranties, and remedies available to parties, while ensuring proper documentation for land office registration and stamp duty purposes.
Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, identification numbers, and addresses

2. Background: Brief context of the transaction, including property ownership status and intention to sell/purchase

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

4. Property Details: Comprehensive description of the property including lot number, title details, and precise location

5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment schedule

6. Conditions Precedent: Conditions that must be fulfilled before completion of the sale

7. Completion: Terms and process for completing the sale, including timeline and requirements

8. Seller's Warranties: Warranties regarding property ownership, condition, and encumbrances

9. Title and Transfer: Process and obligations for transferring property title

10. Costs and Expenses: Allocation of legal fees, stamp duty, and other transaction costs

11. Default and Termination: Consequences of default and conditions for termination

12. Notices: Process for serving notices between parties

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

Optional Sections

1. Vacant Possession: Terms for delivering vacant possession - used when property is currently occupied

2. Mortgage Terms: Include when purchase involves bank financing

3. Strata Title: Additional terms for apartments/condominiums under strata title

4. Renovation Agreement: Used when specific renovation works are agreed as part of the sale

5. Tenancy: Terms regarding existing tenancy if property is currently tenanted

6. Property Management: For properties in managed communities with maintenance fees

7. Special Conditions: Any unique terms specific to the transaction

Suggested Schedules

1. Property Schedule: Detailed property description including boundaries, fixtures, and fittings

2. Payment Schedule: Detailed breakdown of payment terms and installments

3. Title Documents: Copies of relevant title documents and searches

4. Property Plans: Floor plans, location maps, and other relevant drawings

5. Inventory List: List of included furniture/fittings if sold furnished

6. Condition Report: Current condition of the property and any defects

7. Relevant Permits: Copies of planning permissions and certificates of fitness

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































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Relevant Industries

Real Estate

Banking and Finance

Legal Services

Property Development

Construction

Insurance

Property Management

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Finance

Risk Management

Operations

Sales

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Bank Manager

Mortgage Officer

Property Developer

Legal Counsel

Property Valuer

Real Estate Manager

Compliance Officer

Title Insurance Officer

Property Transaction Manager

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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