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Deed Of Assignment Motor Vehicle

Deed Of Assignment Motor Vehicle Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment Motor Vehicle

"I need a Deed of Assignment Motor Vehicle for transferring my Toyota Camry to a private buyer in Malaysia, with payment to be made in three installments between January and March 2025, and I want to include specific warranties about the vehicle's accident-free history."

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Document background
The Deed of Assignment Motor Vehicle is a crucial legal instrument in Malaysian vehicle transactions, used when transferring ownership of motor vehicles between parties. This document is essential for both private and commercial transactions, ensuring compliance with Malaysian transportation and contract laws. It provides a comprehensive framework for the transfer, including detailed vehicle information, parties' obligations, warranties, and consideration. The deed must be properly executed and stamped according to Malaysian law, particularly the Road Transport Act 1987 and Stamp Act 1949. It's commonly used in various scenarios including private sales, corporate fleet transfers, and dealership transactions, offering legal protection to both assignor and assignee by clearly documenting the transfer terms and conditions.
Suggested Sections

1. Parties: Identifies and details the Assignor (current owner) and Assignee (new owner) with their full names, identification numbers, and addresses

2. Background: Establishes the Assignor's ownership of the vehicle and intention to transfer ownership to the Assignee

3. Definitions: Defines key terms used throughout the deed including 'Vehicle', 'Purchase Price', 'Completion Date', etc.

4. Assignment: Core clause transferring all rights, title, and interest in the vehicle from Assignor to Assignee

5. Consideration: States the agreed purchase price and payment terms

6. Assignor's Warranties: Warranties regarding vehicle ownership, condition, and absence of encumbrances

7. Completion: Details the completion process including documentation, registration transfer, and handover requirements

8. Costs: Specifies responsibility for transfer costs, stamp duty, and registration fees

9. Governing Law: Confirms Malaysian law governs the deed

10. Execution: Formal execution clause with space for signatures, witnesses, and attestation

Optional Sections

1. Condition of Vehicle: Detailed description of vehicle condition, used when selling as-is or with known issues

2. Payment Terms: Include when payment is not made in full at completion

3. Insurance: Required when addressing transfer of existing insurance or new insurance requirements

4. Outstanding Loans: Include when there's an existing loan to be settled as part of the transfer

5. Additional Warranties: Used for specific promises about vehicle condition or history

6. Indemnity: Include when specific risks need to be addressed

Suggested Schedules

1. Schedule 1 - Vehicle Details: Comprehensive details of the vehicle including registration number, make, model, year, chassis number, engine number

2. Schedule 2 - Vehicle Documents: List of all documents being transferred including registration card, insurance certificates, service history

3. Schedule 3 - Vehicle Inspection Report: Recent inspection report or condition assessment if applicable

4. Schedule 4 - Payment Schedule: If payment is in installments, details the payment plan

5. Appendix A - Photographs: Recent photographs of the vehicle documenting its condition at transfer

6. Appendix B - Service History: Detailed service history and maintenance records

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

Automotive

Transportation

Fleet Management

Logistics

Car Dealership

Vehicle Leasing

Insurance

Legal Services

Financial Services

Private Transportation

Relevant Teams

Legal

Procurement

Administration

Compliance

Operations

Fleet Management

Risk Management

Corporate Secretarial

Sales

Documentation

Relevant Roles

Legal Counsel

Fleet Manager

Procurement Manager

Administrative Officer

Compliance Officer

Contract Administrator

Vehicle Assets Manager

Operations Manager

Risk Manager

Company Secretary

Legal Executive

Transport Manager

Sales Manager

Documentation Specialist

Industries
Road Transport Act 1987 (Act 333): The primary legislation governing motor vehicle registration, transfer of ownership, and related matters in Malaysia. It provides the legal framework for vehicle ownership transfer and registration requirements.
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including the essential elements of a valid contract such as offer, acceptance, consideration, and capacity of parties.
Stamp Act 1949: Regulates the stamping requirements for legal documents in Malaysia. The Deed of Assignment must be properly stamped to be admissible in court and legally enforceable.
Consumer Protection Act 1999: Relevant when the transaction involves individual buyers, providing protection against unfair practices and ensuring disclosure of material information about the vehicle.
Sales of Goods Act 1957: Governs the sale of goods, including motor vehicles, and provides implied terms about title, quality, and fitness for purpose.
National Land Code 1965: While primarily for land matters, its principles regarding documentation and registration of transfers can be relevant to the format and execution of the deed.
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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