51Ƶ

Purchase Agreement Improved Property Template for Malaysia

A Purchase Agreement for Improved Property is a legally binding document used in Malaysia for the sale and purchase of developed real estate, including buildings and structures. Operating under Malaysian law, particularly the National Land Code 1965 and Contracts Act 1950, this agreement details all aspects of the property transaction, including purchase price, payment terms, property details, and obligations of both parties. The document incorporates specific Malaysian legal requirements, such as compliance with the Housing Development Act for residential properties and consideration of the Strata Titles Act for subdivided buildings. It serves as the primary contract document ensuring legal transfer of property ownership while protecting both parties' interests under Malaysian jurisdiction.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get template free

Your data doesn't train Genie's AI

You keep IP ownership of your docs

4.6 / 5
4.6 / 5
4.8 / 5

What is a Purchase Agreement Improved Property?

The Purchase Agreement Improved Property is a crucial legal document used in Malaysian real estate transactions when transferring ownership of developed property that includes buildings or structures. This agreement is essential for both residential and commercial property transactions in Malaysia, providing a detailed framework for the sale process while ensuring compliance with local laws and regulations. The document is structured to address all aspects of the property transfer, including property details, payment terms, conditions precedent, and obligations of both parties. It incorporates requirements from various Malaysian legislation, including the National Land Code 1965, Contracts Act 1950, and where applicable, the Strata Titles Act 1985. The agreement is particularly important as it serves as the primary evidence of the transaction terms and provides legal protection for both vendor and purchaser throughout the property transfer process.

What sections should be included in a Purchase Agreement Improved Property?

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

2. Background: Recitals explaining the context of the sale, including brief property description and parties' intention to enter into the transaction

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

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

5. Purchase Price: Statement of the agreed purchase price and payment terms including deposit and completion amounts

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of late payment

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

8. Vendor's Obligations: Responsibilities and warranties of the vendor including delivery of vacant possession and documentation

9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and due diligence

10. Completion: Requirements and procedure for completion of the sale

11. Title and Transfer: Provisions regarding transfer of title and registration requirements

12. Default and Termination: Consequences of default by either party and termination provisions

13. Notices: Method and addresses for serving notices between parties

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

15. Execution: Formal execution block for signing by parties and witnesses

What sections are optional to include in a Purchase Agreement Improved Property?

1. Strata Title Provisions: Required when the property is a strata-titled property, including provisions about management corporation and service charges

2. Tenancy Provisions: Required when the property is sold with existing tenants, detailing handling of tenancy and rental deposits

3. Bank Financing: Required when purchaser is obtaining bank financing, including conditions related to loan approval and disbursement

4. Property Condition: Detailed provisions about the condition of buildings and fixtures when selling improved property with specific features or concerns

5. Development Requirements: Required when property is part of a development project with ongoing obligations or restrictions

6. GST Provisions: Required when the transaction is subject to Goods and Services Tax

7. Foreign Investment: Required when purchaser is a foreign entity, including compliance with Foreign Investment Committee requirements

What schedules should be included in a Purchase Agreement Improved Property?

1. Schedule 1: Property Details: Comprehensive description of the property including exact measurements, boundaries, and title particulars

2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms including all installments and due dates

3. Schedule 3: Property Inventory: List of fixtures, fittings, and other items included in the sale

4. Schedule 4: Outstanding Charges: List of all outstanding charges, taxes, and assessments affecting the property

5. Schedule 5: Title Conditions: Copy of title conditions, restrictions, and encumbrances

6. Appendix A: Property Documents: Copies of relevant property documents including latest quit rent and assessment receipts

7. Appendix B: Property Plans: Certified plans of the property including building plans and location plans

8. Appendix C: Photographs: Recent photographs of the property documenting its current condition

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

Jurisdiction

Malaysia

Publisher

Genie AI

Cost

Free to use

Find the exact document you need

Option To Buy Real Estate Form

A Malaysian legal document granting exclusive rights to purchase specified real estate within a set timeframe, subject to Malaysian property law and contract regulations.

Download

Vacant Lot Purchase Agreement

A Malaysian law-governed agreement for the sale and purchase of vacant land, establishing terms and conditions for property transfer in compliance with the National Land Code.

Download

House Sale Purchase Agreement

A Malaysian law-governed agreement documenting the sale and purchase of residential property, detailing terms, conditions, and obligations of both vendor and purchaser.

Download

Home Offer Contract

A Malaysian legal document presenting a formal offer to purchase property, outlining key terms and conditions under Malaysian property law.

Download

Real Estate Purchase And Sale Agreement Form

A Malaysian law-governed agreement for the sale and purchase of real property, detailing terms, conditions, and requirements for property ownership transfer.

Download

Property Purchase Option Agreement

A Malaysian law-governed agreement granting an exclusive right to purchase specified property within a defined period under preset terms and conditions.

Download

Land Purchase Option Agreement

A Malaysian law-governed agreement granting exclusive rights to purchase specified land within a set timeframe and price, subject to the National Land Code requirements.

Download

Wholesale Purchase Contract

A Malaysian law-governed agreement regulating bulk purchase arrangements between wholesale suppliers and buyers.

Download

Offer To Purchase Land

A Malaysian law-compliant document presenting a formal offer to purchase land, outlining key terms and conditions of the proposed acquisition.

Download

Real Estate Purchase Agreement Form

A Malaysian law-governed agreement that formalizes the sale and purchase of real estate property, detailing terms, conditions, and obligations of both vendor and purchaser.

Download

Letter Of Intent For Selling Property

A preliminary non-binding document expressing intent to purchase property in Malaysia, setting out basic terms and conditions for the proposed transaction.

Download

Contract For Buying A House

A Malaysian law-governed agreement for the purchase and sale of residential property, detailing terms of property transfer and parties' obligations.

Download

Commercial Real Estate Contract

Malaysian law-governed agreement for commercial real estate sale and purchase transactions, ensuring legal compliance and party protection.

Download

Letter Of Agreement Between Buyer And Seller Of Land

A Malaysian law-governed preliminary agreement documenting the essential terms and conditions between parties for the sale and purchase of land property.

Download

House Sales Contract On For Sale By Owner

A Malaysian law-governed contract for direct property sale between private parties without real estate agent involvement.

Download

Option To Purchase Form For Private Property

A Malaysian legal document granting exclusive rights to purchase a specified private property within a set timeframe upon payment of an option fee.

Download

Option To Purchase Property Agreement

A Malaysian law-governed agreement granting exclusive rights to purchase specified property within a set timeframe and predetermined terms.

Download

House Offer Contract

A Malaysian legal document presenting a formal offer to purchase residential property, outlining key terms and conditions under Malaysian property law.

Download

Commercial Lease Option To Buy

A Malaysian law-governed agreement combining a commercial property lease with a future purchase option, establishing terms for both leasing and potential acquisition.

Download

Agreement To Sell Real Estate Form

A comprehensive legal agreement for real estate sales in Malaysia, complying with Malaysian property and contract law requirements.

Download

Simple Offer To Purchase Land Form

A Malaysian legal document presenting a formal offer to purchase land or property, containing essential terms and conditions of the proposed transaction.

Download

Letter Of Intent For Real Estate Development

A preliminary document under Malaysian law that outlines proposed terms and conditions for a real estate development project, serving as a formal expression of interest between parties.

Download

Buy Sell Agreement For Land

A Malaysian law-governed agreement for the sale and purchase of land, detailing terms, conditions, and requirements under the National Land Code 1965.

Download

Real Estate Offer And Acceptance Form

A Malaysian legal document that formalizes the initial agreement between property seller and buyer, setting out key terms and conditions of the property sale.

Download

Letter Of Intent To Purchase Property

A preliminary document under Malaysian law expressing serious intent to purchase property and outlining proposed transaction terms, serving as a precursor to a formal Sale and Purchase Agreement.

Download

Condo Purchase Agreement

A Malaysian law-governed agreement for the sale and purchase of condominium units, detailing transfer terms and compliance with local strata property regulations.

Download

Simple Real Estate Purchase Agreement Between Family Members

A simplified Malaysian property purchase agreement template specifically designed for real estate transfers between family members, compliant with Malaysian property law.

Download

Real Estate Option To Purchase Agreement

A Malaysian law-governed agreement granting exclusive rights to purchase specified real estate within a defined period, subject to agreed terms and conditions.

Download

Simple Offer To Purchase Real Estate Form

A Malaysian law-compliant document presenting a formal offer to purchase real estate, detailing property specifications, price, and transaction terms.

Download

Wholesale Purchase Agreement Contract

A Malaysian law-governed agreement establishing terms for wholesale purchase arrangements between suppliers and buyers.

Download

Simple Purchase And Sale Agreement

A Malaysian law-governed agreement that establishes terms for the purchase and sale of goods between two parties, ensuring legal compliance while maintaining simplicity.

Download

Purchase Agreement Improved Property

A comprehensive legal agreement under Malaysian law governing the sale and purchase of improved property, including detailed terms and conditions for property transfer.

Download

Buyer Contract Agreement

A Malaysian law-governed agreement establishing terms and conditions for purchase of goods or services between buyer and seller.

Download

Real Estate Offer To Purchase

A Malaysian law-compliant document presenting a formal offer to purchase real estate property, outlining the proposed price, terms, and conditions of the potential transaction.

Download

Option To Buy Land Agreement

A Malaysian law-governed agreement granting exclusive rights to purchase specified land within a set timeframe and price.

Download

Commercial Property Purchase Contract

A Malaysian law-governed agreement for the purchase and sale of commercial property, detailing transaction terms and compliance requirements.

Download

Land Option Agreement

A Malaysian law-governed agreement granting an exclusive right to purchase specified land within a set timeframe and price.

Download

Buyer Seller Agreement

A Malaysian law-governed agreement establishing terms and conditions for the sale and purchase of goods between buyer and seller.

Download

Simple Real Estate Sales Contract

A standardized Malaysian real estate sale agreement template for straightforward property transactions, compliant with local property laws and the National Land Code.

Download

Letter Of Offer To Purchase Property

A formal document under Malaysian law expressing a buyer's intention to purchase property and outlining key terms and conditions of the proposed transaction.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it