Hmm Quite lucky I have been in this line for quite sometimes... Then I know when it come to property, verbal agreement is not good enough....
My father just bought a piece of land belong to his brother... so called tanah pusaka. Since his brother persuade him to purchase he immediately withdraw cash to give to his elder brother. However there was no black and white. What.... OMG... how can u give someone to purchase something but you did not have anything black and white. RM 10k just pass along without proper acknowledgement. This is what we called verbal contract.
As a good daughter... and push by all sibling, I step in to get everything in proper. But the heavy part is the agreement in in Malay.... Mana aku nak cari nie. Then again, thank to my lawyer to give proper guidance.... Law term contract. Have to signed by everybody and get them stamp.....
What you should indicate in the contract....
1. Amount agreeable purchase
2. In the event of death you can caveat the piece of land
3. None of the decesdant can claim the property after the transaction...
Moral of the story.... next time payment mode should be made is Cheque not cash hokay.....
Tada....
My father just bought a piece of land belong to his brother... so called tanah pusaka. Since his brother persuade him to purchase he immediately withdraw cash to give to his elder brother. However there was no black and white. What.... OMG... how can u give someone to purchase something but you did not have anything black and white. RM 10k just pass along without proper acknowledgement. This is what we called verbal contract.
As a good daughter... and push by all sibling, I step in to get everything in proper. But the heavy part is the agreement in in Malay.... Mana aku nak cari nie. Then again, thank to my lawyer to give proper guidance.... Law term contract. Have to signed by everybody and get them stamp.....
What you should indicate in the contract....
1. Amount agreeable purchase
2. In the event of death you can caveat the piece of land
3. None of the decesdant can claim the property after the transaction...
Moral of the story.... next time payment mode should be made is Cheque not cash hokay.....
Tada....
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