The Post Occupancy Agreement serves as a critical document in Malaysian property transactions where circumstances necessitate the seller's continued occupation of the property after the sale completion. This situation commonly arises when sellers need additional time to relocate, are waiting for their new property to be ready, or have other legitimate reasons for delayed vacancy. The agreement, compliant with Malaysian property and contract law, establishes a formal landlord-tenant relationship between the buyer (new owner) and seller (temporary occupant). It covers essential aspects such as occupancy duration, fees, maintenance responsibilities, utilities, insurance requirements, and conditions for vacant possession. This document helps prevent disputes by clearly defining rights and obligations during the transitional period, while ensuring both parties' interests are protected under Malaysian law.
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1. Parties: Identifies the seller (now occupant) and buyer (now owner) of the property
2. Background: References the completed sale and explains the need for continued occupancy
3. Definitions: Defines key terms used throughout the agreement
4. Grant of License: Specifies the temporary right to occupy the property
5. Duration: States the period of post-completion occupancy
6. Occupancy Fee: Details the amount payable for the continued occupation and payment terms
7. Property Condition: Obligations regarding maintenance and condition during occupancy
8. Utilities and Outgoings: Responsibility for ongoing costs during the occupancy period
9. Insurance: Requirements for insurance during the occupancy period
10. Termination: Circumstances and process for ending the agreement
11. Vacant Possession: Requirements for delivering vacant possession at the end of the term
12. Governing Law: Confirms Malaysian law governs the agreement
1. Security Deposit: Required when the parties agree to a security deposit for the occupancy period
2. Permitted Occupants: Needed when specific restrictions on additional occupants are required
3. Special Conditions: Used when there are unique circumstances or requirements for the occupancy
4. Early Vacation Discount: Include when offering financial incentives for early vacation
5. Extensions: Required when allowing for possible extensions of the occupancy period
6. Property Access: Needed when specific arrangements for buyer access during occupancy are required
1. Property Details: Detailed description of the property including address and title particulars
2. Inventory List: List of any furniture or items remaining in the property during occupancy
3. Payment Schedule: Detailed breakdown of occupancy fees and payment dates
4. Property Condition Report: Documentation of property condition at the start of occupancy
5. House Rules: Specific rules and regulations for the occupancy period
6. Utility Reading Schedule: Record of utility meter readings at commencement
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