Document background
The Intention To Sell Property Letter is a crucial preliminary document in Malaysian property transactions, typically used before proceeding with a full Sale and Purchase Agreement. This document serves as a formal written declaration that helps establish clear communication between parties and demonstrates serious intent in property transactions. It is particularly useful in Malaysian real estate practices where initial negotiations need to be documented but parties are not yet ready for a binding sale agreement. The letter includes critical information such as property details, proposed price, and basic terms, aligned with Malaysian property law requirements. While not legally binding for the sale itself, it can have legal implications under the Contracts Act 1950 regarding the parties' intentions and preliminary agreements. This document is commonly used in both residential and commercial property transactions and helps create a clear framework for subsequent legal documentation.
