Document background
The Home Buy Sell Agreement is a fundamental legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. This agreement is essential for both private and commercial property transactions in Malaysia, incorporating requirements from the National Land Code 1965, Contracts Act 1950, and other relevant property legislation. It serves as the primary contract documenting the terms of sale, purchase price, payment schedule, property details, and the rights and obligations of both parties. The agreement must comply with Malaysian property law requirements, including proper property description, land title details, and necessary provisions for title transfer at the land office. It's commonly used in both direct sales between private parties and developer sales, with variations depending on whether the property is sub-sale, new development, or involves bank financing.
