Document background
A Property Sharing Agreement is essential when multiple parties wish to establish a formal arrangement for shared property ownership in Malaysia. This document is commonly used in various scenarios, including family property arrangements, business partnerships, or joint investment ventures. It must comply with Malaysian property law, particularly the National Land Code 1965 and the Contracts Act 1950. The agreement typically includes detailed provisions for ownership structure, financial obligations, property management, dispute resolution, and transfer of interests. It's particularly important in Malaysia's diverse property market, where shared ownership arrangements are common in both residential and commercial contexts. The document serves as a crucial tool for preventing future disputes by clearly defining each party's rights and responsibilities in the shared property arrangement.
