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Quitclaim And Release
"I need a Quitclaim and Release agreement for releasing all rights and interests in a commercial property located in Kuala Lumpur to ABC Properties Sdn Bhd, with the transfer to be completed by March 15, 2025, including provisions for a one-time settlement payment of RM 500,000."
1. Parties: Identifies and defines all parties to the agreement, including the releasing party (releasor) and the party being released (releasee)
2. Background: Provides context for the agreement, including relevant history of the relationship between the parties and circumstances leading to the release
3. Definitions: Defines key terms used throughout the agreement for clarity and precision
4. Release and Discharge: Core section detailing the specific rights, claims, and interests being released or relinquished
5. Consideration: Specifies the payment or other consideration given in exchange for the release
6. No Admission of Liability: States that the agreement and consideration do not constitute an admission of liability by any party
7. Representations and Warranties: Basic warranties regarding capacity to enter agreement and ownership of rights being released
8. Governing Law: Specifies Malaysian law as governing law and jurisdiction
9. Execution: Formal requirements for signing, including witness requirements under Malaysian law
1. Confidentiality: Include when parties wish to keep the terms of the release and underlying dispute confidential
2. Non-Disparagement: Include when parties agree not to make negative statements about each other
3. Return of Property: Include when physical items or documents need to be returned as part of the release
4. Future Cooperation: Include when parties need to cooperate on transitional matters or future actions
5. Tax Implications: Include when the release involves significant monetary consideration or tax-sensitive matters
6. Survival Clause: Include when certain provisions need to survive the execution of the release
7. Severability: Include when parties want to ensure partial invalidity doesn't void entire agreement
1. Schedule A - Description of Released Claims: Detailed list of specific claims, rights, or causes of action being released
2. Schedule B - Property Description: Detailed description of any real property or assets involved in the release
3. Schedule C - Payment Schedule: If consideration is paid in installments, details the payment terms and dates
4. Appendix 1 - Related Documents: List of any related agreements or documents referenced in the release
5. Appendix 2 - Form of Notice: Standard form for any notices required under the agreement
Authors
Release
Consideration
Representations and Warranties
No Admission of Liability
Confidentiality
Non-Disparagement
Further Assurance
Severability
Assignment
Entire Agreement
Amendment
Notices
Governing Law
Jurisdiction
Waiver
Costs
Counterparts
Third Party Rights
Time of Essence
Independent Legal Advice
Force Majeure
Indemnification
Dispute Resolution
Real Estate
Construction
Banking and Finance
Insurance
Manufacturing
Professional Services
Energy and Resources
Technology
Healthcare
Retail and Consumer
Legal
Compliance
Risk Management
Real Estate
Corporate Secretariat
Human Resources
Finance
Operations
Executive Management
Business Development
Legal Counsel
Corporate Secretary
Risk Manager
Compliance Officer
Property Manager
Contract Administrator
Chief Legal Officer
Settlement Officer
Claims Manager
Real Estate Manager
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Human Resources Director
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