Document background
A Declaration of Trust After Purchase is commonly used in Malaysia when property is purchased in one person's name but is intended to benefit multiple parties. This document is essential in situations where, for practical or strategic reasons, not all beneficial owners are named on the property title. It complies with Malaysian trust law, particularly the Trustees Act 1949 and the National Land Code 1965, and serves to protect the interests of all parties involved. The declaration includes crucial details such as the property description, beneficial ownership proportions, trustee powers, and administration provisions. It's particularly valuable in family arrangements, investment structures, and property holding schemes where legal and beneficial ownership need to be distinguished.
