Document background
The Tenants in Common Agreement is essential when two or more parties wish to purchase and co-own property in Malaysia while maintaining separate and distinct ownership shares. This arrangement is commonly used for investment properties, family property arrangements, or when unrelated parties wish to pool resources to purchase property. The agreement, governed by Malaysian law including the National Land Code 1965 and state-specific land regulations, outlines crucial aspects such as ownership percentages, management responsibilities, cost sharing, and dispute resolution mechanisms. It provides legal protection for all co-owners by clearly defining their rights and obligations, ensuring smooth property management and preventing potential conflicts. The document is particularly important as it allows owners to hold different percentages of ownership and transfer their shares independently.
