The Real Estate Addendum Form is a crucial document in Malaysian property transactions when modifications to existing agreements become necessary. It is commonly used when parties need to alter terms of their original property agreement due to changing circumstances, newly negotiated conditions, or regulatory requirements. The document must comply with Malaysian property law, particularly the National Land Code 1965 and the Contracts Act 1950. This addendum form serves as a legally binding supplement to the main agreement, documenting changes such as price adjustments, completion date extensions, property specification modifications, or additional terms and conditions. It's essential for maintaining clear records of amendments while ensuring all changes are properly documented and legally enforceable within the Malaysian legal framework.
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1. Original Agreement Reference: Identifies the main purchase agreement being modified, including its date and parties
2. Parties: Names and details of all parties involved in the original agreement and addendum
3. Background: Brief context explaining why the addendum is necessary
4. Definitions: Key terms used in the addendum, particularly any new terms not defined in the original agreement
5. Modifications: Clear statement of the specific changes being made to the original agreement
6. Effect on Original Agreement: Confirmation that all other terms of the original agreement remain in full force and effect
7. Governing Law: Confirmation that Malaysian law governs the addendum
8. Execution: Signature blocks for all parties and witnesses
1. Price Adjustment: Used when the addendum modifies the original purchase price
2. Completion Date Amendment: Used when changing the closing or completion date of the transaction
3. Property Description Amendment: Used when modifying or clarifying the property description
4. Condition Precedent Modification: Used when adding or modifying conditions that must be met before completion
5. Payment Terms Amendment: Used when modifying the payment schedule or terms
6. Special Conditions: Used for any unique requirements or conditions specific to this modification
1. Schedule A - Amended Property Details: Detailed description of any changes to the property specifications
2. Schedule B - Revised Payment Schedule: Updated payment terms and schedule if applicable
3. Schedule C - Additional Documents: List of new or modified documents required for the transaction
4. Appendix 1 - Property Plans: Updated property plans or drawings if modifications affect physical aspects
5. Appendix 2 - Regulatory Approvals: Copies of any new regulatory approvals required for the modifications
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