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Unit Transfer Agreement Template for Malaysia

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Key Requirements PROMPT example:

Unit Transfer Agreement

"I need a Unit Transfer Agreement for transferring ownership of my 2-bedroom condominium unit in Kuala Lumpur to a private buyer, with completion scheduled for March 2025 and including one parking space."

Document background
The Unit Transfer Agreement is a crucial legal document used in Malaysian property transactions when transferring ownership of a specific unit from one party to another. It is commonly used for both residential and commercial properties, particularly in strata-titled developments. The agreement must comply with Malaysian property laws, including the National Land Code 1965 and Strata Titles Act 1985, and typically includes detailed information about the property, parties involved, purchase price, payment terms, conditions precedent, warranties, and completion requirements. This document is essential for ensuring a legally valid transfer of property ownership and protecting the interests of both transferor and transferee. It serves as the primary reference document for the transaction and is required for registration purposes with the relevant land office or registry.
Suggested Sections

1. Parties: Identification of the Transferor and Transferee with full legal names and details

2. Background: Context of the transfer, including brief description of the property and reason for transfer

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter of Transfer: Detailed description of the unit being transferred, including unit number, floor area, and share in common property

5. Consideration: Purchase price and payment terms

6. Conditions Precedent: Conditions that must be fulfilled before the transfer can be completed

7. Transferor's Obligations: Obligations of the seller including delivery of documents and vacant possession

8. Transferee's Obligations: Obligations of the buyer including payment and compliance with transfer requirements

9. Completion: Process and requirements for completing the transfer

10. Representations and Warranties: Standard warranties about ownership, encumbrances, and authority to transfer

11. Default: Consequences of default by either party

12. Notices: How formal notices between parties should be given

13. Governing Law: Specification of Malaysian law as governing law

14. Execution: Signature blocks and execution formalities

Optional Sections

1. Conditions Subsequent: Additional conditions that must be fulfilled after the transfer, used when there are post-completion obligations

2. Existing Tenancies: Details of any existing tenants and treatment of tenancy agreements, included if the unit is currently tenanted

3. Car Park: Details of any car park lots included in the transfer, used when parking spaces are part of the transaction

4. Renovation and Alterations: Provisions regarding existing or planned renovations, used when there are renovation issues to address

5. Management Corporation Matters: Special provisions relating to the management corporation, used for strata properties

6. GST/Tax Provisions: Special tax considerations, included when relevant to the specific transaction

7. Broker's Commission: Details of any real estate agent's commission, included when a broker is involved

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the unit including floor plan and specifications

2. Schedule 2 - Title Particulars: Copy of title details and registration particulars

3. Schedule 3 - Payment Schedule: Breakdown of payment terms and timeline

4. Schedule 4 - Inventory List: List of fixtures and fittings included in the transfer

5. Appendix A - Required Documents: List of documents required for the transfer

6. Appendix B - Form of Transfer: Prescribed transfer form under the National Land Code

7. Appendix C - Handover Form: Form to be completed upon handover of the unit

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses






























Relevant Industries

Real Estate

Property Development

Banking & Finance

Legal Services

Property Management

Construction

Housing Development

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Operations

Finance

Administration

Contract Administration

Risk Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Conveyancing Executive

Property Developer

Bank Officer

Compliance Officer

Title Officer

Property Administrator

Sales Director

Contract Manager

Land Administrator

Transaction Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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