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Contract For Selling A House Template for Malaysia

A comprehensive legal agreement governed by Malaysian law that facilitates the transfer of residential property ownership from seller to buyer. This document adheres to the requirements of the National Land Code 1965 and other relevant Malaysian property legislation, detailing the terms and conditions of the sale, including property specifications, purchase price, payment terms, and obligations of both parties. It incorporates necessary provisions for compliance with local property laws, stamp duty requirements, and land registration procedures specific to the Malaysian jurisdiction.

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What is a Contract For Selling A House?

The Contract For Selling A House is a fundamental legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. This document is essential when transferring property ownership in Malaysia, whether for private residences, investment properties, or newly developed homes. It must comply with various Malaysian legislation, including the National Land Code 1965, Contracts Act 1950, and Housing Development Act 1966. The contract typically includes comprehensive details about the property, parties involved, payment terms, conditions precedent, and completion requirements. It serves as the primary legal instrument protecting both buyer's and seller's interests while ensuring the transaction meets all regulatory requirements for property transfers in Malaysia.

What sections should be included in a Contract For Selling A House?

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

2. Background: Context of the sale, including brief property history and current ownership status

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

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

5. Purchase Price: Agreed purchase price and payment terms, including deposit and completion payment details

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

7. Completion: Process and requirements for completing the sale, including timing and documentation

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

9. Transfer of Title: Process and obligations for transferring property title to the purchaser

10. Costs and Taxes: Allocation of legal costs, stamp duty, and other transaction-related expenses

11. Vacant Possession: Terms for delivering vacant possession of the property

12. General Provisions: Standard contract clauses including notices, governing law, and entire agreement provisions

What sections are optional to include in a Contract For Selling A House?

1. Tenancy Provisions: Required if the property is currently tenanted, addressing handling of existing tenancies

2. Renovation Works: Needed if there are ongoing or planned renovation works that affect the sale

3. Strata Title Provisions: Required for apartments or condominiums under strata title

4. Property Management: Relevant for properties within managed communities or developments

5. Mortgage Details: Required if the property has an existing mortgage to be discharged

6. Special Conditions: For any unique requirements or circumstances specific to the property or parties

What schedules should be included in a Contract For Selling A House?

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

2. Title Documents: Copies of relevant title documents and land office records

3. Inventory List: List of included furnishings or fixtures if selling furnished

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

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

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

7. Regulatory Approvals: Copies of relevant permits, certificates, and approvals

Authors

Alex Denne

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

Jurisdiction

Malaysia

Publisher

Ƶ

Cost

Free to use

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