Document background
The Joint Tenants In Common Agreement is essential for situations where multiple parties wish to co-own property in Malaysia while maintaining separate and distinct ownership shares. This document is commonly used in both residential and commercial property transactions, family arrangements, and investment partnerships. It differs from joint tenancy by allowing each owner to have a different percentage of ownership and the freedom to transfer their share independently. The agreement must comply with Malaysian property law, particularly the National Land Code 1965, and includes crucial provisions for property management, maintenance responsibilities, decision-making processes, and dispute resolution mechanisms. It's particularly important for protecting each co-owner's interests and preventing potential conflicts by clearly defining rights and obligations upfront.
