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Deed Of Sale Of Motor Vehicle Company Owned

Deed Of Sale Of Motor Vehicle Company Owned Template for Malaysia

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Key Requirements PROMPT example:

Deed Of Sale Of Motor Vehicle Company Owned

"I need a Deed of Sale of Motor Vehicle Company Owned for selling our company's Toyota Camry to an individual buyer, with full payment to be made in cash on March 15, 2025, and the deed should include comprehensive warranties about the vehicle's condition as it's a used car with 50,000 km on the odometer."

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Document background
The Deed Of Sale Of Motor Vehicle Company Owned is a crucial legal instrument used in Malaysia when a company wishes to transfer ownership of its vehicle assets. This document is essential for ensuring compliance with both the Road Transport Act 1987 and Companies Act 2016, particularly regarding proper corporate authorization for asset disposal. It's commonly used during fleet updates, company restructuring, or when disposing of company vehicles. The deed must include comprehensive vehicle details, corporate authorizations, warranties, and specific transfer terms. It's designed to protect both the selling company and the buyer by clearly documenting the transaction terms, vehicle condition, and ownership transfer process, while ensuring all Malaysian legal and regulatory requirements are met.
Suggested Sections

1. Parties: Identifies and defines the Seller (Company) and Buyer with complete details including company registration number, registered address for the company, and full identification details for the buyer

2. Background: Sets out the context of the sale, confirms company ownership of the vehicle, and states intention to transfer ownership

3. Definitions: Defines key terms used throughout the deed including 'Vehicle', 'Purchase Price', 'Completion Date', etc.

4. Sale and Purchase: Core provision stating the agreement to sell and purchase the vehicle, including the purchase price

5. Vehicle Details: Comprehensive details of the vehicle including make, model, registration number, chassis number, engine number, and year of manufacture

6. Payment Terms: Details of the purchase price, payment method, and payment schedule if applicable

7. Completion: Specifies the completion date, location, and process for transferring the vehicle

8. Seller's Warranties: Company's warranties regarding vehicle ownership, condition, and absence of encumbrances

9. Vehicle Documents: Lists all documents to be handed over upon completion

10. Company Authorization: Confirms proper company authorization for the sale

11. Governing Law: Specifies Malaysian law as governing law and jurisdiction

12. Execution: Formal execution clause for proper signing as a deed

Optional Sections

1. Condition Report: Detailed description of vehicle condition - recommended when selling used vehicles

2. Encumbrances: Additional section if there are existing loans or liens to be discharged

3. Tax Obligations: Special section when there are specific tax implications requiring clarification

4. After-Sales Support: Include when the company is offering any post-sale warranties or support

5. Insurance: Special provisions regarding transfer of insurance or insurance requirements

6. Corporate Guarantee: Additional guarantees if required by the buyer from the selling company

Suggested Schedules

1. Schedule 1 - Vehicle Specifications: Detailed technical specifications and features of the vehicle

2. Schedule 2 - Vehicle Documentation: List of all registration documents, service history, and other relevant paperwork

3. Schedule 3 - Company Resolutions: Copies of relevant company resolutions authorizing the sale

4. Schedule 4 - Payment Schedule: If payment is in installments, detailed payment schedule with dates and amounts

5. Appendix A - Vehicle Photographs: Recent photographs of the vehicle showing its condition

6. Appendix B - Vehicle Inspection Report: Independent vehicle inspection report if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions























Clauses
























Relevant Industries

Automotive

Transportation

Logistics

Fleet Management

Corporate Services

Manufacturing

Construction

Retail

Distribution

Real Estate

Agriculture

Relevant Teams

Legal

Finance

Operations

Administration

Compliance

Asset Management

Procurement

Risk Management

Transportation

Corporate Secretarial

Relevant Roles

Fleet Manager

Corporate Secretary

Legal Counsel

Finance Director

Chief Financial Officer

Operations Manager

Administrative Officer

Compliance Officer

Asset Manager

Procurement Manager

Risk Manager

Transportation Manager

Vehicle Fleet Coordinator

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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