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Deed Of Assignment For Property Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment For Property

"I need a Deed of Assignment for Property to transfer a residential condominium unit in Kuala Lumpur from my company to an individual buyer, with completion scheduled for March 2025, including provisions for existing tenant rights and bank discharge requirements."

Document background
The Deed of Assignment for Property is a crucial document in Malaysian property transactions, particularly when dealing with properties that don't yet have individual titles issued. This document is commonly used for new property developments, subdivided lands, and strata properties where master titles are still held by developers or original landowners. The deed serves as evidence of the beneficial ownership transfer and contains essential details about the property, parties involved, consideration, and terms of the assignment. It must be properly stamped and registered with relevant authorities in Malaysia to be legally effective. Legal practitioners must ensure the deed complies with local property laws, banking requirements (if financing is involved), and developer's guidelines where applicable.
Suggested Sections

1. Parties: Identifies and defines the Assignor (seller) and Assignee (buyer) with full names, identification numbers, and addresses

2. Background: Recites the ownership history of the property, including the original purchase and any relevant details about the current assignment

3. Definitions: Defines key terms used throughout the deed including Property, Purchase Price, Completion Date, etc.

4. Agreement to Assign: The operative clause where the Assignor agrees to assign and the Assignee agrees to accept the assignment of the Property

5. Consideration: States the purchase price and payment terms for the Property

6. Assignor's Warranties: Contains warranties regarding ownership, encumbrances, condition of property, and authority to sell

7. Completion: Details the completion process, including timing, location, and requirements for completion

8. Title Documents: Lists the documents to be delivered upon completion

9. Costs: Specifies which party bears various transaction costs including stamp duty and registration fees

10. Notices: Specifies how and where notices between parties should be delivered

11. Execution: Formal execution clause with requirements for witnessing and attestation

Optional Sections

1. Conditions Precedent: Used when there are specific conditions that must be met before completion can occur

2. Bank's Consent: Required when the property is currently charged to a bank and requires discharge

3. Developer's Consent: Needed when the property is still under developer's interest and requires their approval for assignment

4. Strata Title Provisions: Required for apartments or condominiums where strata title is involved

5. Foreign Investment Approval: Required when the assignee is a foreign national or entity

6. Rental Provisions: Used when the property is currently tenanted and includes provisions about existing tenancy

7. GST/Tax Provisions: Required when specific tax considerations need to be addressed

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including lot number, title details, and precise measurements

2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment terms including deposits, progressive payments, and balance payment

3. Schedule 3 - Title Documents: List of all title documents to be delivered upon completion

4. Schedule 4 - Existing Encumbrances: Details of any existing charges, liens, or encumbrances on the property

5. Schedule 5 - Form of Transfer: Template or copy of the transfer document to be executed

6. Appendix A - Property Plans: Floor plans, location maps, and other relevant property diagrams

7. Appendix B - Special Conditions: Any special conditions or requirements specific to the transaction

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 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 & Finance

Property Development

Construction

Legal Services

Housing & Development

Investment & Asset Management

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Operations

Finance

Risk Management

Administrative Support

Business Development

Relevant Roles

Property Lawyer

Real Estate Manager

Property Development Manager

Legal Counsel

Conveyancing Executive

Property Investment Manager

Real Estate Agent

Bank Manager

Property Valuer

Compliance Officer

Legal Administrator

Title Officer

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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