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Deed Of Partial Release

Deed Of Partial Release Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Partial Release

"I need a Deed of Partial Release to release three units (Units 5, 6, and 7) from a charge over a 10-unit commercial building in Kuala Lumpur, where Maybank is the chargee and Global Properties Sdn Bhd is the chargor, with the release to take effect from March 15, 2025."

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Document background
The Deed of Partial Release is a crucial document in Malaysian secured financing transactions where a portion of secured assets needs to be released from the original security arrangement. This commonly occurs in scenarios where a borrower has partially repaid their facility and seeks to free up specific assets, or when certain secured assets are being sold or transferred with the security holder's consent. The deed must comply with Malaysian legal requirements, including those under the National Land Code 1965 and the Contracts Act 1950. It contains detailed descriptions of the released property, confirms the continuation of security over remaining assets, and requires proper execution as a deed. The document is particularly important in property development, corporate refinancing, and partial asset disposal scenarios.
Suggested Sections

1. Parties: Identification of the Chargee/Security Holder (releasing party) and Chargor/Security Provider (whose property is being released)

2. Background: Recitals detailing the original charge/security, its registration details, and the reason for partial release

3. Definitions: Definitions of key terms used in the deed, including reference to the Original Security Documents and Released Property

4. Release: The operative part declaring the release of the specified property/assets from the security

5. Confirmation of Remaining Security: Confirmation that the original security remains in full force for non-released assets

6. Representations and Warranties: Basic representations about authority to execute the release

7. Execution: Formal execution blocks meeting requirements for deeds under Malaysian law

Optional Sections

1. Conditions Precedent: Used when the release is conditional upon certain requirements being met

2. Costs and Expenses: Include when there's a need to specify who bears the costs of the release

3. Further Assurance: Optional clause requiring parties to take additional steps to perfect the release if needed

4. Surviving Obligations: Used when certain obligations from the original security need to survive the partial release

5. Notices: Include when ongoing notifications may be required between parties

Suggested Schedules

1. Schedule 1 - Released Property: Detailed description of the property/assets being released from the security

2. Schedule 2 - Original Security Documents: List and details of the original security documents affected by this release

3. Schedule 3 - Remaining Secured Property: Description of property/assets that remain subject to the original security

4. Appendix A - Form of Registration: Template for registration of the partial release with relevant authorities if required

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses















Relevant Industries

Banking and Financial Services

Real Estate

Construction

Manufacturing

Commercial Property

Industrial Property

Corporate Finance

Property Development

Infrastructure

Relevant Teams

Legal

Finance

Property Management

Corporate Secretarial

Risk Management

Compliance

Real Estate

Credit Administration

Security Administration

Relevant Roles

Legal Counsel

Property Manager

Finance Manager

Company Secretary

Security Trustee

Loan Officer

Real Estate Manager

Corporate Finance Manager

Compliance Officer

Risk Manager

Legal Director

Chief Financial 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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