Purchase Affidavit for Malaysia

Purchase Affidavit Template for Malaysia

A Purchase Affidavit is a formal sworn declaration document used in Malaysia to officially certify details regarding a purchase transaction. This legal document, governed by Malaysian law including the Statutory Declarations Act 1960, serves as a formal statement under oath confirming the details of a purchase, including the purchase price, payment terms, and source of funds. The document must be sworn before a Commissioner for Oaths or Notary Public in Malaysia and carries legal weight in verifying the authenticity and legitimacy of a purchase transaction. It is commonly used in both personal and commercial contexts, particularly when formal verification of a purchase is required for legal or administrative purposes.

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What is a Purchase Affidavit?

A Purchase Affidavit serves as a crucial legal instrument in Malaysian business and personal transactions where formal verification of a purchase is required. This document is particularly important when there's a need to establish an official record of a transaction, verify the source of funds, or provide evidence of ownership. The Purchase Affidavit must comply with Malaysian legal requirements, including proper execution before a Commissioner for Oaths or Notary Public, and may be required for various purposes such as asset declarations, corporate compliance, tax documentation, or regulatory submissions. It typically includes detailed information about the purchased item or property, the transaction particulars, and relevant party details, making it a valuable document for both legal and administrative purposes in Malaysia's business environment.

What sections should be included in a Purchase Affidavit?

1. Title and Jurisdiction: Specifies the type of affidavit and the jurisdiction (Malaysia) where it is being executed

2. Deponent Information: Full legal name, identification details, occupation and address of the person making the affidavit

3. Verification Statement: Formal statement confirming the deponent's identity and capacity to make the declaration

4. Purchase Details: Specific details about the purchase including date, location, and description of items or property purchased

5. Price and Payment: Declaration of the purchase price and confirmation of payment details

6. Source of Funds: Declaration of the legitimate source of funds used for the purchase

7. Ownership Declaration: Statement confirming legitimate ownership and right to make the purchase

8. Attestation: Formal closing statement affirming the truth of the declarations made

9. Execution: Place for signature, date, and commissioner for oaths' certification

What sections are optional to include in a Purchase Affidavit?

1. Third Party Authorization: Required when the purchase is made on behalf of another party or entity

2. Conditional Statements: Used when the purchase is subject to specific conditions or terms

3. Related Transactions: Included when the purchase is part of a larger transaction or series of transactions

4. Encumbrances Declaration: Required when declaring any existing liens, charges, or encumbrances on the purchased item

5. Special Circumstances: Used to declare any unusual circumstances or special conditions relating to the purchase

What schedules should be included in a Purchase Affidavit?

1. Purchase Receipt: Copy of official receipt or proof of purchase

2. Property/Item Description: Detailed description of the purchased property or items

3. Payment Evidence: Documents evidencing payment such as bank statements or transfer receipts

4. Identification Documents: Copies of relevant identification documents of the deponent

5. Authorization Documents: Any power of attorney or authorization documents if applicable

6. Supporting Documents: Any additional documents supporting the purchase transaction

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

Affidavit

Cost

Free to use
Relevant Industries

Real Estate

Manufacturing

Retail

Financial Services

Construction

Automotive

Technology

Healthcare

Education

Agriculture

Mining

Transportation

Hospitality

Energy

Professional Services

Relevant Teams

Legal

Procurement

Finance

Compliance

Operations

Risk Management

Administration

Corporate Secretariat

Asset Management

Contract Management

Relevant Roles

Procurement Manager

Legal Counsel

Compliance Officer

Finance Director

Corporate Secretary

Asset Manager

Property Manager

Operations Director

Chief Financial Officer

Risk Manager

Administrative Officer

Company Director

Purchase Officer

Contract Administrator

Business Development 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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