Document background
The Memorandum Of Understanding Between Landowner And Developer is a crucial preliminary document used in Malaysian property development projects to establish the initial framework for collaboration between parties. It is typically employed when a developer has identified a potential development opportunity on privately owned land and needs to formalize preliminary discussions before proceeding with detailed due diligence and definitive agreements. The document, governed by Malaysian law, outlines proposed commercial terms, development concepts, timelines, and responsibilities while maintaining flexibility for future negotiations. It includes both non-binding elements for general terms and binding provisions for specific matters such as confidentiality and exclusivity periods. This MOU serves as a foundation for the subsequent detailed development or joint venture agreement, incorporating considerations from the National Land Code 1965 and other relevant Malaysian property development regulations.
