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The Purchase And Sale Agreement For House is a crucial legal document used in Malaysian property transactions to formalize the transfer of residential property ownership. It serves as the primary contract between parties when conducting house sales in Malaysia, incorporating all necessary elements required by local property law and regulations. This document is essential for both new property purchases and secondary market transactions, requiring careful consideration of Malaysian legal requirements, including compliance with the National Land Code 1965, Housing Development Act, and relevant state regulations. The agreement typically includes detailed provisions about the property, payment terms, conditions precedent, completion requirements, and specific Malaysian legal considerations such as bumiputera quotas and foreign ownership restrictions where applicable.

1. Parties: Identification of the Vendor/Seller and Purchaser/Buyer with full legal names, identification numbers, and addresses

2. Background: Recitals explaining the context of the sale, including brief description of the property and parties' intention to sell/purchase

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the agreement

4. Sale and Purchase: Core provision stating the agreement to sell and purchase the property, including the purchase price

5. Property Details: Detailed description of the property including lot number, title details, and exact measurements

6. Purchase Price and Payment Terms: Breakdown of the purchase price, payment schedule, and method of payment

7. Conditions Precedent: Conditions that must be fulfilled before completion, including financing approval and title searches

8. Title and Ownership: Warranties regarding the title, ownership status, and encumbrances on the property

9. Completion: Requirements and procedure for completion of the sale, including timeline and deliverables

10. Vacant Possession: Terms regarding the delivery of vacant possession to the purchaser

11. Representations and Warranties: Statements of fact and promises made by both parties regarding the property and their capacity

12. Rights and Obligations: Ongoing rights and obligations of both parties until completion

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

14. Costs and Stamp Duty: Allocation of legal costs, stamp duty, and other expenses

15. Notices: Process for giving formal notices under the agreement

16. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes

17. Execution: Signature blocks and attestation requirements