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The Home Ownership Agreement serves as the primary legal instrument for property transactions in Malaysia, essential for both new property developments and resale properties. This document is required whenever there is a transfer of residential property ownership, whether from developer to buyer or between individual parties. The agreement must comply with Malaysian property laws, including the National Land Code 1965, Housing Development Act 1966, and Strata Titles Act 1985 (for stratified properties). It provides comprehensive coverage of all aspects of the property transaction, from payment terms to defect liability periods, and includes specific provisions mandated by Malaysian housing regulations. The Home Ownership Agreement is particularly crucial as it forms the basis for property registration with the land office and serves as evidence of ownership rights.

1. Parties: Identification of the seller/developer and buyer with complete details including name, identification number, and address

2. Background: Context of the agreement, including brief property description and purpose of the transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including lot number, title details, and precise measurements

5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable

6. Payment Terms: Detailed payment structure, including deposit, progressive payments, and completion payment

7. Title and Ownership: Provisions regarding property title, transfer of ownership, and encumbrances

8. Completion: Conditions and procedures for completion of the sale and property handover

9. Representations and Warranties: Warranties by both parties regarding their capacity and property condition

10. Default and Remedies: Consequences of default and available remedies for both parties

11. Governing Law: Specification of Malaysian law as governing law and jurisdiction