Document background
A Property Co-Ownership Agreement is essential when two or more parties wish to jointly own real property in Malaysia. This document becomes necessary in various scenarios, including family property arrangements, joint investments, or shared commercial property ownership. It must comply with Malaysian property law, particularly the National Land Code 1965 and related regulations. The agreement typically covers crucial aspects such as ownership percentages, maintenance responsibilities, decision-making procedures, and dispute resolution mechanisms. Given Malaysia's dual legal system, the agreement may need to consider both civil and Shariah law implications, especially when Muslim co-owners are involved. This comprehensive document helps prevent future disputes by clearly defining each party's rights and obligations in the co-ownership arrangement.
