DEED OF ASSIGNMENT
This Assignment is made the day of , 20
Between [Name] (NEW NRIC NO. ) (OLD NRIC NO. ) of No. [Address] (hereinafter called “the Assignor(s)”) of the one part And [Name] (NEW NRIC NO. ) of No.[Address] (hereinafter called “the Assignee(s)”) of the other part.
W H E R E A S:-
(1) By an Agreement of Sale dated the [Insert date] (hereinafter called the “the Principal Agreement”) made between[Insert Company Name and Company Number], a company incorporated in Malaysia and having its place of business at No. [Insert Address] (“hereinafter called “the Developer”) of the one part and the Assignor(s) of the other part, the Developer sold and the Assignor(s) purchased a parcel with vacant possession distinguished as parcel of [Insert types of Property] with vacant possession distinguished as [Insert unit number], which is delineated and shaded RED in the Site Plan annexed to the Principal Agreement and estimated to contain an area of approximately [Insert size of the unit] square metres (hereinafter called “the said Parcel”) forming part of the building erected on a part of that piece of land known as [Insert details of the Title]
(2) The Assignor(s) has by a Facility Agreement and Deed of Assignment both dated the [Insert Date] made between [Insert name of the Bank] of No. [Insert Address] (hereinafter called “the Bank”) of the one part and the Assignor(s) of the other part, the Assignor(s) has assigned the said Parcel to the Bank as security for a loan granted to the Assignor(s).
(3) The Assignor(s) has paid in full the purchase price to the Developer as at to-date.
(4) A separate individual/strata document of title to the said Parcel has not been issued by the appropriate authorities.
(5) By an Agreement To Assign dated [Insert Date] (hereinafter referred to as “the Sale Agreement”) made between the Assignor(s) as the Vendor(s) of the one part and the Assignee(s) as the Purchaser(s) of the other part, the Assignor(s) sold and the Assignee(s) purchased the said Parcel for the consideration of Ringgit Malaysia [Insert Purchase Price] therein mentioned and upon the terms and conditions stated therein.
(6) The Developer have at the request of the Assignor(s) and the Assignee(s) agreed and consented to the assignment of the said Parcel by the Assignor(s) to the Assignee(s).
NOW THIS AGREEMENT WITNESSETH as follows:-
1. In consideration of the total sum of Ringgit Malaysia [Insert Purchase Price] paid by the Assignee(s) to the Assignor(s) (the receipt whereof the Assignor(s) hereby acknowledge(s)), the Assignor(s) hereby ASSIGNS unto the Assignee(s) all their rights title and interest in and to the said Parcel under the Principal Agreement and the Sale Agreement and the full benefit granted thereby and all stipulations therein contained and all remedies for enforcing the same thereby the Assignee(s) have become the sole beneficial owner(s) of the said Parcel under the Principal Agreement and the Sale Agreement.
2. The Assignor(s) hereby indemnifies the Assignee(s) against all acts deed or actions in respect of any breach or non-observance of any conditions or stipulations contained in the Principal Agreement prior to the date of this Assignment.
3. The Assignee(s) hereby covenant with the Assignor(s) that the Assignee(s) will as from the date hereof pay, perform and observe all and every sum or sums of money, stipulations agreements, provisions and conditions respectively which are mentioned or contained in the Principal Agreement on the part of the Assignor(s) to be paid performed and observed and will keep the Assignor(s) indemnified against all actions proceedings claims demands damages penalties costs charges and expenses by reason of non-observance of the said payments stipulations agreements provisions and conditions or otherwise in relation thereto.
4. At such time as there shall be issued a separate strata title to the said Parcel in favour of the Assignee(s), the Developer shall forthwith execute a Memorandum of Transfer of the said Parcel under the National Land Code in favour of the Assignee(s) and shall do all acts and things to have the said Parcel transferred to the Assignee(s).
5. For the purpose of giving effect to the Assignor(s)’ obligation under this Assignment the Assignor(s) hereby irrevocably appoints the Assignee(s) the attorney of the Assignor(s) for the Assignor(s) and on their behalf and as their act and deed to execute seal and deliver and otherwise perfect the Transfer of the said Parcel as aforesaid so as to have the said Parcel transferred to the Assignee(s).
6. The Assignor(s) declares that the authority and power given by them under Clause 5 above being given for valuable consideration shall be irrevocable.
7. The Assignee(s) shall pay the Assignor(s)’ and the Assignee(s)’ Solicitors costs and charges of and incidental to the preparation and execution of this Assignment and the subsequent Transfer of the said Parcel. The Assignee(s) shall pay all stamp duties on this Assignment and the subsequent Transfer of the said Parcel including the registration fees, search fees thereon. The Assignee(s) further agree to pay as and when required any additional or excess stamp duty and penalty that may be imposed by the Collector of Stamp Duties or such other competent authority or authorities in respect of this Assignment and/or the Transfer of the said Parcel.
8. This Assignment shall bind the heirs, assigns and personal representatives of the Assignor(s) and the Assignee(s) respectively.
IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first above written.
SIGNED SEALED and DELIVERED )
by the abovenamed Assignor(s) )
in the presence of:- )
) ………………………………….
[Name]
SIGNED SEALED and DELIVERED )
by the abovenamed Assignee(s) )
in the presence of:- ) ……………….…………………
[Name]
I, [Insert Solicitor’s Name], an Advocate and Solicitor of the High Court of Malaya practising in [Insert place of practice] hereby certify that the signature of the Assignor(s) abovenamed was written in my presence on this day of 20 and is to my personal knowledge the true signature of the said Assignor(s), [Name & NRIC No] who has acknowledged to me that she is of full age and that she has voluntarily executed this instrument.
Witness my hand
…………..………………..
Advocate & Soclitor
ACKNOWLEDGEMENT
We, [Insert Name and Company Number], a company incorporated in Malaysia and having its place of business at No. [Insert Address] do hereby acknowledge that on this day of ,20
the foregoing Assignment in respect of [Insert Parcel No.] was intimated to us by the delivery of a true copy thereof and the same has been duly noted in our records.
SIGNED SEALED and DELIVERED )
by )
for and on behalf of )
[Insert Name and Company Number] )
in the presence of – )
