Deed Of Assignment Property Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Assignment Property

"I need a Deed of Assignment Property for a residential condominium unit in Kuala Lumpur, with completion scheduled for March 2025, including specific provisions for maintenance fees and developer's consent."

Document background
The Deed of Assignment Property is a crucial document in Malaysian property transactions, particularly in situations where the individual or strata title for a property has not yet been issued. This document is commonly used in new property developments or sub-sale transactions where the master title is still held by the developer or original owner. The deed transfers all beneficial rights, interests, and ownership from the seller (Assignor) to the buyer (Assignee). It must include comprehensive details about the property, parties involved, consideration, and various warranties and undertakings. The document needs to comply with Malaysian property laws and regulations, including requirements for proper execution, stamping, and registration. This type of deed is especially important as it serves as proof of ownership until the individual title is eventually issued.
Suggested Sections

1. Parties: Identification of the Assignor (seller) and Assignee (buyer) with full names, identification numbers, and addresses

2. Background: Recitals explaining the Assignor's ownership/rights to the property and the agreement to assign to the Assignee

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

4. Property Details: Comprehensive description of the property being assigned including lot number, title details, and exact measurements

5. Consideration: Details of the purchase price and payment terms

6. Assignment Clause: The operative clause transferring all rights, title, and interest in the property from Assignor to Assignee

7. Assignor's Covenants: Warranties and representations by the Assignor regarding property ownership, encumbrances, and right to assign

8. Assignee's Covenants: Obligations of the Assignee including payment terms and compliance with property conditions

9. Completion: Details of completion date, venue, and requirements for completion of the assignment

10. Execution: Formal execution clause with witness requirements as per Malaysian law

Optional Sections

1. Conditions Precedent: Used when there are specific conditions that must be met before the assignment becomes effective

2. Developer's Consent: Required when the property is still under developer's interest and requires their consent for assignment

3. Bank's Consent: Needed when the property is subject to an existing charge/mortgage

4. Strata Title Provisions: Included for apartments/condominiums where strata title is involved

5. Special Conditions: Any unique terms specific to the property or agreement between parties

6. Tax Provisions: Detailed provisions about Real Property Gains Tax when applicable

7. Vacant Possession: Terms regarding delivery of vacant possession when the property is currently occupied

Suggested Schedules

1. First Schedule: Detailed property description including boundary marks, measurements, and title particulars

2. Second Schedule: Copy of the original sale and purchase agreement or prior title document

3. Third Schedule: List of fixtures and fittings included in the assignment (if applicable)

4. Fourth Schedule: Payment schedule and breakdown of consideration

5. Appendix A: Copy of the land title or strata title

6. Appendix B: Developer's consent letter (if applicable)

7. Appendix C: Property plans and drawings

8. Appendix D: List of outstanding charges, caveats, or encumbrances (if any)

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

Relevant legal definitions
Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Urban Development

Housing Development

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Development

Compliance

Risk Management

Operations

Sales

Documentation

Land Administration

Relevant Roles

Property Lawyer

Real Estate Manager

Property Developer

Legal Counsel

Conveyancing Executive

Real Estate Agent

Bank Manager

Property Investment Manager

Compliance Officer

Title Officer

Land Administrator

Property 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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