Document background
A Release of Covenant is utilized in Malaysian property transactions when parties wish to formally terminate or discharge existing restrictions or obligations attached to a property. This document becomes necessary when the original purpose of the covenant has been fulfilled, is no longer relevant, or when all parties agree to remove the restriction. The Release of Covenant must comply with Malaysian land law requirements, particularly the National Land Code 1965, and needs to be properly executed and registered with the relevant land office. It typically includes details of the original covenant, property information, party details, and clear release declarations. This document is particularly important in property development, where historical restrictions might need to be removed to facilitate new development or change of use.
