Document background
A Letter Of Intent To Sell Property To Tenant is commonly used in the Malaysian property market when a landlord wishes to offer their property for sale to the existing tenant before marketing it to other potential buyers. This document serves as a preliminary step in the property sale process, establishing the basic terms and demonstrating serious intent from both parties. It typically includes key information such as property details, proposed purchase price, payment terms, and timeline for the transaction. Under Malaysian jurisdiction, while not legally binding for the final sale, this document helps establish good faith negotiations and can be referenced in the subsequent Sale and Purchase Agreement. It's particularly useful in both residential and commercial property transactions where the tenant has expressed interest in purchasing the property they currently occupy.
