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Property Assignment Contract
"I need a Property Assignment Contract for a residential property in Kuala Lumpur, Malaysia, with completion scheduled for March 15, 2025; the property is currently unencumbered and will be purchased with cash."
1. Parties: Identification of the Assignor and Assignee with full names, identification numbers, and addresses
2. Background: Recitals establishing the Assignor's ownership, property details, and intention to assign
3. Definitions: Definitions of key terms used throughout the agreement
4. Agreement to Assign: Core provision detailing the assignment of the property from Assignor to Assignee
5. Property Description: Detailed description of the property being assigned including title details and registration particulars
6. Purchase Price: Statement of the consideration amount and payment terms
7. Completion: Terms and conditions for completion of the assignment including timing and procedure
8. Assignor's Warranties: Warranties regarding title, encumbrances, and condition of the property
9. Registration and Transfer: Procedures for registration of the transfer at the land office
10. Costs and Expenses: Allocation of legal fees, stamp duty, and registration fees
11. Notices: Procedure for serving notices between parties
12. Governing Law: Specification of Malaysian law as governing law
13. Execution: Signature blocks and attestation requirements
1. Existing Tenancies: Required if the property is subject to existing tenancy agreements
2. Condition of Property: Detailed when specific property conditions need to be acknowledged
3. Planning Permissions: Necessary for properties requiring specific land use permissions
4. Foreign Investment Approval: Required when the Assignee is a foreign entity or person
5. Bank Consent: Needed if the property is subject to an existing charge or mortgage
6. Strata Title Provisions: Required for properties under strata titles
7. Service Charges: Relevant for properties in managed developments
8. Tax Indemnity: Optional protection regarding Real Property Gains Tax obligations
1. Schedule 1 - Property Details: Comprehensive property description including lot number, title details, and land area
2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment terms and installments if applicable
3. Schedule 3 - Title Documents: List of all title documents to be handed over upon completion
4. Schedule 4 - Existing Encumbrances: Details of any existing charges, caveats, or other encumbrances
5. Schedule 5 - Form 14A: Statutory transfer form required under the National Land Code
6. Schedule 6 - Vendor's Title Documents: Copies of relevant title documents and previous assignments
7. Appendix A - Property Plans: Approved plans and drawings of the property
8. Appendix B - Regulatory Approvals: Copies of relevant permits and approvals
Authors
Assignment
Purchase Price
Payment Terms
Property Delivery
Title Transfer
Representations and Warranties
Property Condition
Encumbrances
Completion
Registration
Costs and Expenses
Stamp Duty
Real Property Gains Tax
Risk and Insurance
Vacant Possession
Default
Remedies
Force Majeure
Notices
Assignment Rights
Severability
Entire Agreement
Amendments
Governing Law
Dispute Resolution
Indemnification
Time of Essence
Further Assurance
Counterparts
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Corporate Real Estate
Residential Housing
Commercial Property
Industrial Property
Legal
Real Estate
Property Management
Corporate Secretarial
Compliance
Finance
Asset Management
Facilities Management
Risk Management
Operations
Property Lawyer
Real Estate Agent
Property Manager
Corporate Lawyer
Land Officer
Property Developer
Real Estate Director
Legal Counsel
Conveyancing Executive
Company Secretary
Property Investment Manager
Asset Manager
Facilities Manager
Real Estate Transaction Manager
Compliance Officer
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