The Selling House Divorce Agreement is a specialized legal document used in Malaysian jurisdiction when divorcing couples need to sell their matrimonial home and divide the proceeds as part of their divorce settlement. This document is essential when both parties agree to sell their shared property rather than having one party buy out the other's share. It must comply with Malaysian legal requirements, including the Law Reform (Marriage and Divorce) Act 1976 for non-Muslim couples, or relevant Shariah law provisions for Muslim couples, as well as the National Land Code 1965 for property transactions. The agreement encompasses property sale terms, division of proceeds, tax implications, and responsibilities of both parties, ensuring a clear framework for the property sale process while protecting both parties' interests during this sensitive transition.
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1. Parties: Identification of both divorcing spouses and their legal details
2. Background: Context of the divorce proceedings, marriage details, and property ownership history
3. Definitions: Key terms used throughout the agreement
4. Property Details: Complete description of the property being sold, including title details and encumbrances
5. Sale Terms: Agreed sale price, payment terms, and conditions of the property sale
6. Division of Proceeds: Detailed breakdown of how the sale proceeds will be divided between parties
7. Responsibilities Prior to Sale: Obligations of each party regarding property maintenance, access, and cooperation with the sale process
8. Tax Obligations: Attribution of tax liabilities including stamp duty and real property gains tax
9. Completion Requirements: Steps to be taken for completing the sale and transfer of property
10. Representations and Warranties: Statements about property condition, ownership, and authority to sell
11. Default and Remedies: Consequences and remedies for breach of agreement terms
12. Governing Law: Confirmation of Malaysian law governance and jurisdiction
13. Execution: Signature blocks and witnessing requirements
1. Islamic Law Compliance: Required if either party is Muslim, ensuring compliance with Shariah requirements
2. Existing Tenancies: Include if the property has current tenants and handling of tenancy arrangements
3. Mortgage Details: Include if there is an existing mortgage to be discharged
4. Real Estate Agent: Include if a specific agent is appointed to handle the sale
5. Temporary Occupancy: Include if one party will continue residing in the property until sale
6. Children's Interests: Include if proceeds are partially allocated for children's benefit
7. Dispute Resolution: Optional alternative dispute resolution procedures
8. Conditional Terms: Include if sale is subject to specific conditions like court approval
1. Schedule 1 - Property Details: Detailed property description, including lot number, title details, and address
2. Schedule 2 - Property Documents: List of all relevant property documents to be transferred
3. Schedule 3 - Inventory: List of fixtures and fittings included in the sale
4. Schedule 4 - Payment Schedule: Detailed breakdown of payment terms and timelines
5. Schedule 5 - Outstanding Liabilities: List of any encumbrances, loans, or liabilities affecting the property
6. Appendix A - Property Photos: Current photographs of the property condition
7. Appendix B - Valuation Report: Professional valuation report of the property
8. Appendix C - Court Orders: Relevant divorce proceedings documents or court orders
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Relevant Teams
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Real Estate
Conveyancing
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Documentation
Compliance
Islamic Banking
Customer Relations
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Relevant Roles
Family Law Attorney
Property Lawyer
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Bank Manager
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Legal Administrative Assistant
Compliance Officer
Financial Advisor
Property Sales Manager
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