Document background
The Tenants in Common Co-Ownership Agreement is essential when two or more parties wish to establish clear terms for jointly owning property in Malaysia. This document is particularly relevant for family members, business partners, or investors who want to purchase property together while maintaining separate and distinct ownership shares. It operates within the Malaysian legal framework, particularly the National Land Code 1965 and Contracts Act 1950, providing a structured approach to managing co-ownership relationships. The agreement covers crucial aspects such as ownership percentages, property usage rights, financial responsibilities, decision-making processes, and dispute resolution mechanisms. It's commonly used in both residential and commercial property contexts, offering protection and clarity for all co-owners while ensuring compliance with Malaysian property and contract law.
