[Member] Deed of Assignment (By Way of Transfer)

DEED OF ASSIGNMENT

WHEREAS:-

(1) By a Sale and Purchase Agreement dated the [Insert Date] (hereinafter collectively referred to as “the Principal Agreement”) made between [Company Name] ( ), a company incorporated in Malaysia and duly licensed under the Housing Developers (Control and Licensing) Act 1966 with its registered address at [Address] and having a place of business at [Address] (hereinafter called “the Developer”) of the one part and the Assignor of the other part, the Developer sold and the Assignor purchased all that parcel of residential premises known as Parcel [Address] erected on part of [Address] bearing assessment address [Address] (hereinafter referred to as “the said Property”) at the price and on the terms and conditions as therein contained;

(2) By another Agreement of Sale dated the day of

(hereinafter referred to as “the Sub-Sale Agreement”) made between the Assignor and the Assignee, the Assignor has agreed to sell and the Assignee has agreed to purchase the said Property together with all rights, title and interest under the Principal Agreement and to all conditions of title and restrictions in interest whether express or implied affecting the said Property free from all encumbrances subject to the vacant possession and further subject to the terms and conditions hereinafter appearing for the consideration of Ringgit Malaysia [Insert amount];

(3) The Assignor is the beneficial/registered owner of the said Property;

(4) The said Property is currently free from encumbrances.

(5) Individual title to the said Property has not yet been issued by the appropriate authorities.

NOW THIS DEED WITNESSETH as follows:-

1. In consideration of the sum of [Insert amount] paid by the Assignee to the Assignor as full purchase price (the receipt of which the Assignor hereby acknowledges), the Assignor hereby assigns transfers and conveys absolutely to the Assignee all whatsoever rights, title interest liabilities and obligations in and to the said Property and the Principal Agreement and the full benefit granted thereby and all stipulations therein contained and all remedies for enforcing the same.

2. The Assignor hereby indemnifies the Assignee against all act deeds 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 hereby covenants with the Assignor that the Assignee will perform and observe all the stipulations agreement provisos and conditions respectively which are mentioned or contained in the Principal Agreement and on the part of the Assignor thereby agreed to be performed and observed and will keep the Assignor indemnified against all actions proceedings claims demands damages penalties costs charges and expenses by reason of the non-observance of the Principal Agreement or otherwise in relation thereto.

4. Each party shall bear its own solicitors’ costs and charges of and incidental to the preparation and execution of this Assignment and the subsequent transfer of the said Property. The Assignee shall pay all stamp duties on this Assignment and the subsequent Transfer including registration fees and search fees thereon.

5. Where there are two or more persons or parties included or comprised in the expressions “the Assignor” and “the Assignee” agreements covenants terms stipulations and undertakings expressed to be made by them and on their part shall be deemed to be made by or binding upon them jointly and severally.

6. The Assignment shall bind the respective assigns representatives and successors-in-title of the parties hereto.

IN WITNESS WHEREOF the parties hereto have hereunto set their respective hands the day and year first above written.

Signed Sealed and Delivered      )

by the abovenamed Assignor     )

in the presence of:-                       ) ……………………………….……………….

                                                                             [Name]

DEVELOPER’S CONSENT

We, [Company Name] ( ), do hereby acknowledge that on this day of , , the foregoing Deed of Assignment in respect of the premises known Parcel [Insert Address] erected on part of [Insert Address]bearing assessment address [Insert Address], was intimated to us by the delivery of a true copy thereof and the same has been duly noted in our records.

Dated this day of ,

SIGNED by                       )

for and on behalf of      )

in the presence of:-       )