Document background
A Bill of Sale For House is a crucial legal document in Malaysian property transactions, used when transferring ownership of residential property from one party to another. This document is essential under Malaysian law, particularly governed by the National Land Code 1965 and related property legislation. It serves multiple purposes: documenting the transfer of ownership, specifying the terms and conditions of the sale, detailing the property's characteristics, and establishing the rights and obligations of both parties. The document should be used whenever a residential property is sold in Malaysia, whether between private individuals or involving commercial entities. It must include specific details required by Malaysian law, such as proper property description, consideration amount, and terms of transfer, while ensuring compliance with local property transfer regulations, stamp duty requirements, and real property gains tax provisions.
