The House Contract Agreement is a fundamental legal document used in Malaysian property transactions to formalize the terms and conditions of residential property dealings. This agreement is essential for both sale/purchase and rental transactions, incorporating requirements from key Malaysian legislation such as the National Land Code 1965, Contracts Act 1950, and Housing Development (Control and Licensing) Act 1966. It serves as a comprehensive record of the transaction terms, including property details, payment arrangements, parties' obligations, and completion requirements. The document is designed to protect all parties' interests while ensuring compliance with Malaysian property laws and regulations. Given its legal significance, the House Contract Agreement should be carefully reviewed by legal professionals to ensure it meets all statutory requirements and adequately addresses the specific needs of the transaction.
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1. Parties: Identification and details of all parties involved in the agreement, including full legal names, identification numbers, and addresses
2. Background: Context of the agreement, including brief description of the property and purpose of the contract
3. Definitions: Detailed definitions of key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Property Details: Comprehensive description of the property including address, lot number, title details, and built-up area
5. Purchase Price/Rental Amount: Clear statement of the purchase price or rental amount, payment terms, and payment schedule
6. Payment Terms: Detailed breakdown of payment structure, including deposit, progressive payments, and completion payment
7. Completion Date: Specified date for completion of the transaction and handover of the property
8. Representations and Warranties: Statements and guarantees made by both parties regarding the property and their capacity to enter into the agreement
9. Rights and Obligations: Detailed responsibilities of both parties throughout the duration of the agreement
10. Default and Remedies: Consequences of breach and available remedies for both parties
11. Governing Law: Specification that the agreement is governed by Malaysian law and relevant jurisdictions
12. Execution: Formal signing section including witness requirements and attestation
1. Rental Terms: Used for rental agreements, specifying lease duration, renewal options, and rental review provisions
2. Renovation and Alterations: Include when specific permissions or restrictions regarding property modifications need to be addressed
3. Insurance: Used when specific insurance requirements need to be detailed
4. Maintenance and Repairs: Include for rental agreements or when specific maintenance obligations need to be defined
5. Utilities and Services: Used when responsibility for utilities and service charges needs to be clearly allocated
6. Special Conditions: Include when there are unique circumstances or requirements specific to the transaction
7. Strata Title Provisions: Include for apartments or condominiums subject to strata management
8. Force Majeure: Optional clause dealing with unforeseen circumstances that may affect contract performance
1. Schedule 1 - Property Description: Detailed technical description of the property including floor plans and boundaries
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Inventory List: For furnished properties, listing all fixtures, fittings, and furnishings included
4. Schedule 4 - Title Particulars: Copy of land title or strata title details
5. Schedule 5 - Special Conditions: Any specific terms or conditions unique to the property or transaction
6. Appendix A - Property Photos: Current photographs of the property's condition
7. Appendix B - Required Certifications: Copies of relevant certificates such as Certificate of Fitness or Completion
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