The Cancellation Of Property Purchase Letter is a crucial document in Malaysian property transactions when a buyer needs to formally withdraw from a property purchase agreement. This document is typically used when circumstances prevent the completion of a property purchase, whether due to financing issues, property defects, breach of contract, or other valid reasons. The letter must be drafted in accordance with Malaysian property law, particularly the Contracts Act 1950 and the National Land Code 1965, and should clearly state the intention to cancel, reasons for cancellation, and any requests for refund of deposits. It serves as an official record of the cancellation request and can be important for legal proceedings or dispute resolution if necessary. The document is particularly relevant in both residential and commercial property transactions and may be required by financial institutions, property developers, or individual sellers.
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1. Sender's Details: Full name, address, and contact information of the party requesting the cancellation
2. Recipient's Details: Full name, address of the other party (seller/developer/agent)
3. Subject Line: Clear indication that this is a cancellation notice for specific property purchase
4. Property Details: Complete details of the property including address, lot number, and purchase agreement reference
5. Purchase Agreement Reference: Date and reference number of the original Sale and Purchase Agreement
6. Cancellation Statement: Clear statement of intention to cancel the purchase
7. Reason for Cancellation: Brief explanation of the grounds for cancellation
8. Request for Action: Specific actions requested (e.g., acknowledgment of cancellation, refund of deposit)
9. Closing: Professional closing statement with signature block
1. Legal Grounds: Reference to specific legal provisions supporting the cancellation - include when cancellation is based on legal rights or breach of contract
2. Deposit Details: Information about deposits paid and refund requests - include when there are financial matters to be settled
3. Timeline Request: Proposed timeline for processing the cancellation - include when specific timing is crucial
4. Without Prejudice Statement: Legal protection statement - include when negotiation might be necessary
5. Mutual Agreement Reference: Reference to any prior discussions about cancellation - include when there have been previous communications
1. Copy of Sale and Purchase Agreement: Attachment of the original purchase agreement being cancelled
2. Proof of Payment: Copies of deposit or payment receipts relevant to the purchase
3. Supporting Documents: Any relevant documentation supporting the reason for cancellation
4. Previous Correspondence: Copies of any relevant previous communications regarding the cancellation
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Sales
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Contract Management
Transaction Processing
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Real Estate Agent
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