The Cancellation Of Condominium Contract is a crucial document used in Malaysian real estate transactions when parties mutually agree or are legally required to terminate their existing Sale and Purchase Agreement. This document becomes necessary in various situations, such as when the purchaser is unable to secure financing, when there are material breaches of the original contract, or when both parties mutually agree to terminate the transaction. The agreement must comply with Malaysian property laws, including the Contracts Act 1950, Strata Management Act 2013, and Housing Development regulations. It typically includes provisions for the refund of payments, release of obligations, return of documents, and settlement of costs. The document protects both parties' interests by clearly documenting the termination terms and ensuring legal compliance with local property transaction requirements.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of the Seller/Developer and Buyer/Purchaser with full legal names and details
2. Background: Details of the original Sale and Purchase Agreement, including date of execution, property details, and purchase price
3. Definitions: Definitions of key terms used in the cancellation agreement
4. Cancellation: Express agreement to cancel the original contract and the effective date of cancellation
5. Financial Settlement: Details of any refund of purchase price, deposit, or other payments, including payment timeline
6. Mutual Release: Mutual release of all claims, rights, and obligations under the original contract
7. Return of Documents: Requirements for return of original documentation, keys, or other property-related items
8. Costs: Allocation of costs related to the cancellation, including legal fees and stamp duty
9. Governing Law: Confirmation that the agreement is governed by Malaysian law
10. Execution: Signing requirements and execution formalities
1. Confidentiality: Terms regarding confidentiality of the cancellation and its terms, used when parties want to keep the details private
2. Compensation: Additional compensation terms beyond basic refund, used when there's agreement for damages or other payments
3. Third Party Rights: Provisions regarding rights of third parties such as banks or guarantors, used when there are existing loans or guarantees
4. Reinstatement: Terms for reinstating the original contract under specific conditions, used when parties want to keep this option open
5. Dispute Resolution: Specific dispute resolution procedures, used when parties want to specify mediation or arbitration processes
1. Schedule 1 - Property Details: Detailed description of the condominium unit including unit number, floor area, and share in common property
2. Schedule 2 - Original Contract Details: Key details from the original Sale and Purchase Agreement including date, price, and payment history
3. Schedule 3 - Financial Statement: Detailed breakdown of payments made, refunds due, and any deductions
4. Appendix A - Required Documents: List of documents to be returned or cancelled as part of the termination process
5. Appendix B - Execution Requirements: Specific requirements for proper execution including witnessing and attestation requirements
Relevant legal definitions
Clauses
Interpretation
Cancellation Terms
Financial Settlement
Refund Provisions
Mutual Release
Property Handover
Documentation Return
Representations and Warranties
Confidentiality
Costs and Expenses
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Third Party Rights
Force Majeure
Amendment
Assignment
Counterparts
Cancellation Terms
Financial Settlement
Refund Provisions
Mutual Release
Property Handover
Documentation Return
Representations and Warranties
Confidentiality
Costs and Expenses
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Third Party Rights
Force Majeure
Amendment
Assignment
Counterparts
Relevant Industries
Real Estate
Property Development
Legal Services
Banking and Finance
Construction
Property Management
Real Estate Investment
Relevant Teams
Legal
Real Estate
Compliance
Property Development
Sales
Property Management
Contract Administration
Risk Management
Customer Service
Documentation
Relevant Roles
Property Lawyer
Real Estate Agent
Property Developer
Legal Counsel
Contract Manager
Property Manager
Compliance Officer
Real Estate Transaction Manager
Housing Development Officer
Property Sales Manager
Legal Executive
Bank Officer
Conveyancing Executive
Find the exact document you need
Lease Cancellation
A Malaysian law-compliant agreement for the mutual termination of a lease between landlord and tenant, establishing terms for lease ending and property handover.
find out more
Termination Of Contract By Contractor
A Malaysian legal document for contractors to formally terminate their contractual obligations with the principal/employer, compliant with Malaysian contract law and construction industry regulations.
find out more
Time Contract Termination
A Malaysian law-compliant document for formal termination of time-based contracts, outlining termination terms and obligations.
find out more
Ending An Employment Contract Early
A Malaysian law-compliant document for early termination of employment contracts, detailing termination terms and statutory requirements.
find out more
Deed Of Termination Shareholders Agreement
A Malaysian law-governed deed that formally terminates an existing shareholders agreement, including provisions for cessation of rights and obligations.
find out more
General Contractor Termination Letter
A formal notice under Malaysian law to terminate a general contractor's services, including termination terms and final instructions.
find out more
Deed Of Cancellation Of Agreement For Sale
A Malaysian law-governed deed that formally cancels an existing Agreement for Sale and releases parties from their obligations under the original agreement.
find out more
Terminate Contract With Immediate Effect
A Malaysian law-compliant document for immediate contract termination, citing grounds and required actions.
find out more
Cancellation Of Condominium Contract
A Malaysian law-compliant agreement that terminates a condominium Sale and Purchase Agreement, outlining refund terms and mutual release of obligations.
find out more
Termination Of Commercial Lease
A Malaysian law-governed agreement that formally terminates a commercial lease between landlord and tenant, settling all obligations and establishing termination terms.
find out more
Surrender Of Tenancy Agreement
A Malaysian law-governed agreement documenting the mutual termination of a lease before its original expiry date, setting out surrender terms and obligations for both landlord and tenant.
find out more
Assignment Of Lease Agreement
A Malaysian law-governed agreement transferring lease rights and obligations from an existing tenant to a new tenant.
find out more
Termination Of Tenancy Agreement
A Malaysian law-governed agreement that formally terminates an existing tenancy arrangement between landlord and tenant, specifying termination terms and final obligations.
find out more
End Of Lease Agreement
A Malaysian law-governed agreement that formally terminates a lease arrangement between landlord and tenant, outlining property handover and final settlement terms.
find out more
Termination Of Lease Letter
A formal notice under Malaysian law to terminate a lease agreement between landlord and tenant, including termination details and handover arrangements.
find out more
Termination Of Development Agreement
A Malaysian law-governed agreement that formally terminates an existing Development Agreement, settling all related rights and obligations between the parties.
find out more
Termination Letter Distribution Agreement
A Malaysian law-governed formal notice to terminate a distribution agreement, outlining termination terms and post-termination obligations.
find out more
Service Contract Termination
A Malaysian law-governed document for formally terminating service contracts, ensuring legal compliance and protecting parties' interests.
find out more
Independent Contractor Termination
A Malaysian law-governed agreement for formally terminating an independent contractor relationship, including final terms and mutual releases.
find out more
End Of Lease Letter To Tenant
A formal notice under Malaysian law informing tenants about lease termination, including move-out requirements and final settlement details.
find out more
Contract Termination For Convenience
A Malaysian law-compliant document for terminating contracts without cause, specifying termination process and settlement terms.
find out more
Buyer Termination Of Contract
A formal notice for contract termination by the buyer under Malaysian law, stating grounds for termination and required actions.
find out more
Termination Of Agency Agreement
A Malaysian law-governed agreement that formally terminates an existing agency relationship, outlining termination terms and post-termination obligations.
find out more
Termination Release Agreement
A Malaysian law-governed agreement that documents employment termination terms, including payments, releases, and ongoing obligations between employer and employee.
find out more
Termination Of Business Relationship
A Malaysian law-governed agreement for formally terminating business relationships between commercial parties, addressing all aspects of dissolution and post-termination obligations.
find out more
Shareholder Exit Agreement
A Malaysian law-governed agreement facilitating a shareholder's exit from a company, including share transfer terms, valuations, and post-exit obligations.
find out more
Partner Exit Agreement
A Malaysian law-governed agreement documenting a partner's withdrawal from a business partnership, including exit terms, financial settlements, and ongoing obligations.
find out more
Letter For Non Renewal Of Work Contract
A formal Malaysian legal document notifying an employee of their fixed-term employment contract's non-renewal upon expiration.
find out more
Lease Break Agreement
A Malaysian law-governed agreement that enables the mutually agreed early termination of a lease between landlord and tenant.
find out more
End Of Fixed Term Contract
A Malaysian-compliant document formalizing the conclusion of a fixed-term employment contract, including termination terms and final settlements.
find out more
End Of Employment Contract
A Malaysian law-compliant agreement that formalizes and documents the termination of employment relationship, outlining final settlements and obligations of both parties.
find out more
Director Exit Agreement
A Malaysian law-governed agreement documenting the terms and conditions for a director's departure from a company's board, including resignation terms, obligations, and mutual releases.
find out more
Business Contract Cancellation Letter
A formal letter for terminating business contracts under Malaysian law, providing legal notification of contract cancellation and outlining termination terms.
find out more
Rental Contract Cancellation
A Malaysian law-compliant document that formally terminates a rental agreement between landlord and tenant, outlining termination terms and settlement conditions.
find out more
Cancellation Of Memorandum Of Agreement
A Malaysian law-governed document that formally terminates an existing Memorandum of Agreement between parties, including mutual releases and settlement terms.
find out more
Mutual Termination Of Construction Contract
A Malaysian law-governed agreement for the mutual termination of a construction contract, addressing final settlements and releases between parties.
find out more
Termination Of Construction Contract By Owner And Contractor
A Malaysian law-governed agreement for mutual termination of a construction contract between owner and contractor, addressing final settlements and project closure.
find out more
Termination Of Sale Agreement
A Malaysian law-governed agreement that formally terminates an existing sale arrangement between parties, addressing all settlement terms and mutual releases.
find out more
Security Service Termination Letter
A formal letter compliant with Malaysian law for terminating security service agreements, specifying termination terms and transition arrangements.
find out more
Letter Of Termination Of Tenancy Agreement
A formal notice under Malaysian law to terminate a tenancy agreement, specifying the termination date and related arrangements between landlord and tenant.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)