Notice Of Intent To Sell Property for Malaysia

Notice Of Intent To Sell Property Template for Malaysia

A formal written notification document used in Malaysia to declare a property owner's intention to sell their property. This document serves as an official communication tool under Malaysian property law and follows the requirements set forth in the National Land Code 1965 and related property legislation. It includes essential details such as property identification, ownership information, and sale intentions, while potentially incorporating specific requirements for different property types (residential, commercial, or industrial) and various jurisdictional considerations within Malaysian states.

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What is a Notice Of Intent To Sell Property?

The Notice Of Intent To Sell Property is a crucial document in Malaysian property transactions, required in various situations where formal notification of a planned property sale is necessary. This document is particularly important in cases involving tenanted properties, property management companies, or when specific local regulations require advance notice of property sales. It serves to comply with Malaysian property law requirements, including those outlined in the National Land Code 1965 and state-specific regulations. The notice typically includes property details, owner information, intended timeline for sale, and any specific conditions or requirements. It's commonly used in both residential and commercial property transactions and may trigger certain rights or obligations for involved parties, such as tenant's first right of refusal.

What sections should be included in a Notice Of Intent To Sell Property?

1. Sender Details: Full name, address, and contact information of the property owner/seller

2. Date: The date when the notice is issued

3. Recipient Details: Full name and address of the party receiving the notice (if applicable, such as tenant or relevant authority)

4. Subject Line: Clear indication that this is a Notice of Intent to Sell Property

5. Property Details: Complete legal description and address of the property being sold

6. Declaration of Intent: Clear statement of intention to sell the property

7. Proposed Timeline: Expected timeframe for the sale process

8. Contact Information: Preferred contact methods and times for inquiries about the sale

9. Signature Block: Signature of the property owner/authorized representative

What sections are optional to include in a Notice Of Intent To Sell Property?

1. Tenant Rights Notice: Include when the property is currently tenanted to inform of their rights and any first right of refusal

2. Property Valuation Statement: Include when there's a need to indicate the estimated market value or asking price

3. Current Encumbrances: Include when there are existing mortgages, liens, or other encumbrances on the property

4. Property Management Details: Include when there are specific management companies or agents involved

5. Special Conditions: Include when there are specific conditions or requirements for the sale

What schedules should be included in a Notice Of Intent To Sell Property?

1. Property Title Details: Copy of the land title or strata title

2. Property Photos: Recent photographs of the property

3. Floor Plan: Current floor plan or building layout

4. Valuation Report: Professional valuation report if available

5. Land Survey Report: Recent land survey report if available

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Letter of Intent

Cost

Free to use
Relevant Industries

Real Estate

Property Development

Residential Property

Commercial Property

Legal Services

Property Management

Construction

Urban Planning

Financial Services

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Asset Management

Facilities Management

Investment

Administrative Support

Client Services

Risk Management

Relevant Roles

Property Owner

Real Estate Agent

Property Manager

Legal Counsel

Property Developer

Real Estate Director

Compliance Officer

Property Administrator

Real Estate Investment Manager

Asset Manager

Facilities Manager

Property Valuer

Real Estate Consultant

Legal Executive

Property Portfolio Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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