The Conditional Deed of Sale of Motor Vehicle is a crucial legal instrument used in Malaysia when transferring ownership of a motor vehicle subject to specific conditions, typically including full payment or financing arrangements. This document is essential for both private and commercial vehicle sales where the transfer of ownership is contingent upon meeting certain conditions. It provides comprehensive protection for all parties involved by clearly outlining the terms of sale, payment schedule, vehicle specifications, and transfer requirements in accordance with Malaysian law. The deed ensures compliance with local regulations including the Road Transport Act 1987 and related legislation, while establishing a clear framework for the rights and obligations of both seller and buyer throughout the transaction process.
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1. Parties: Identification of the Seller and Buyer with full legal names, identification numbers, and addresses
2. Background: Context of the sale, including the Seller's ownership and intention to sell, and the Buyer's intention to purchase
3. Definitions: Key terms used throughout the deed including 'Vehicle', 'Purchase Price', 'Completion Date', etc.
4. Sale and Purchase: Core agreement for the sale and purchase of the vehicle, including the purchase price
5. Payment Terms: Structure and schedule of payments, including deposit and balance payment details
6. Conditions Precedent: Conditions that must be fulfilled before the sale becomes final
7. Seller's Representations and Warranties: Warranties regarding vehicle ownership, condition, and absence of encumbrances
8. Transfer of Ownership: Process and timing for transferring vehicle ownership and registration
9. Delivery: Terms and conditions for vehicle delivery
10. Default and Remedies: Consequences of default by either party and available remedies
11. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Trade-In Provisions: Include when there is a vehicle trade-in as part of the transaction
2. Financing Terms: Include when the purchase involves third-party financing or hire-purchase arrangements
3. Insurance Requirements: Include when specific insurance arrangements are part of the conditions of sale
4. Inspection Period: Include when a post-agreement inspection period is granted to the buyer
5. Commission: Include when a broker or agent is involved in the sale
6. Joint Ownership: Include when the vehicle will be jointly owned by multiple buyers
1. Schedule 1 - Vehicle Details: Detailed description of the vehicle including make, model, year, registration number, chassis number, engine number, and current mileage
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms including amounts and due dates
3. Schedule 3 - Vehicle Condition Report: Comprehensive report on the current condition of the vehicle, including any existing damage or defects
4. Schedule 4 - Required Documents: List of all documents required for the transfer of ownership
5. Appendix A - Vehicle Registration Card: Copy of the current vehicle registration card
6. Appendix B - Service History: Documentation of the vehicle's service and maintenance history
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