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Conditional Release Of Lien

Conditional Release Of Lien Template for Malaysia

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Key Requirements PROMPT example:

Conditional Release Of Lien

"I need a Conditional Release of Lien for a construction project in Kuala Lumpur, where the lien will be released in three stages as specific construction milestones are completed, with final payment due March 15, 2025."

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Document background
The Conditional Release of Lien is a crucial document in Malaysian property and construction transactions where a lien holder agrees to release their security interest in a property upon the satisfaction of specific conditions. This document is commonly used in situations where partial payments are made, work completion is pending, or other conditions need to be met before a full release can be granted. The document must comply with Malaysian legal requirements, particularly the National Land Code 1965 and the Contracts Act 1950. It typically includes detailed property descriptions, the original lien information, specific release conditions, and the process for verifying condition fulfillment. The conditional nature of the release provides protection for the lien holder while offering a clear path to lien discharge for the property owner.
Suggested Sections

1. Parties: Identification of the Lien Holder and the Property Owner/Debtor, including full legal names and addresses

2. Background: Details of the original lien, including date of filing, amount, and property reference

3. Definitions: Key terms used in the document including 'Lien', 'Property', 'Conditions', 'Release Date'

4. Property Description: Legal description of the property subject to the lien

5. Original Lien Details: Reference to the original lien document, filing details, and current amount owing

6. Conditions for Release: Clear statement of all conditions that must be met for the lien to be released

7. Release Terms: The specific terms of release once conditions are met, including timing and process

8. Representations and Warranties: Statements by both parties regarding their authority and the validity of the lien

9. Governing Law: Specification that Malaysian law governs the agreement

10. Execution: Signature blocks and witnessing requirements

Optional Sections

1. Multiple Lien Holders: Required when there are multiple lien holders involved in the release

2. Partial Release Terms: Needed when only a portion of the lien is being released

3. Payment Terms: Detailed payment conditions if the release is contingent on specific payment arrangements

4. Dispute Resolution: Specific procedures for resolving disputes about condition fulfillment

5. Survival Clause: Specifying which provisions survive after the release

6. Time Extension Provisions: Terms for extending the time to meet conditions if needed

7. Notice Requirements: Specific requirements for how notices must be given between parties

Suggested Schedules

1. Schedule A - Property Details: Detailed legal description of the property, including lot numbers, boundaries, and title details

2. Schedule B - Original Lien Documentation: Copies or details of the original lien registration documents

3. Schedule C - Payment Schedule: If applicable, detailed payment terms and schedule

4. Schedule D - Condition Fulfillment Requirements: Detailed requirements for proving conditions have been met

5. Appendix 1 - Required Forms: Standard forms required for lien release in the relevant jurisdiction

6. Appendix 2 - Evidence of Authority: Documentation proving authority of signatories to execute the release

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Infrastructure

Commercial Property

Residential Property

Industrial Property

Government and Public Sector

Relevant Teams

Legal

Real Estate

Construction

Finance

Compliance

Property Management

Project Management

Risk Management

Corporate Secretarial

Operations

Relevant Roles

Legal Counsel

Property Manager

Construction Manager

Contract Administrator

Real Estate Developer

Project Manager

Finance Manager

Land Administrator

Compliance Officer

Real Estate Attorney

Construction Supervisor

Property Development Director

Risk Manager

Legal Director

Company Secretary

Industries
National Land Code 1965: The primary legislation governing land matters in Malaysia, including the registration and discharge of liens and other encumbrances on property. Sections 341-344 specifically deal with liens and charges on land.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including conditional agreements. Relevant for the conditions attached to the release of lien and the contractual obligations between parties.
Civil Law Act 1956: Provides the general framework for civil matters and the application of English common law principles regarding liens and encumbrances in Malaysia where not specifically covered by local legislation.
Specific Relief Act 1950: Deals with the enforcement of rights and obligations related to property, including specific performance and injunctive relief which may be relevant in lien release disputes.
Registration of Businesses Act 1956: Relevant when the parties involved are businesses, ensuring proper identification and legal standing of the entities involved in the lien release.
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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