Late Delivery Of Vacant Possession Malaysia

Every spa be it the statutory sale and purchase agreement i e.

Late delivery of vacant possession malaysia. In such a situation the purchaser will have to commence a legal action in the court to claim for breach of spa lad and general damages for the late delivery of vacant possession. How much can the purchaser claim for late delivery of vacant possession of the property. Therefore a developer cannot delay or extend the date for delivery of vacant possession as it is an attempt in varying the agreed terms of the spa thereby contravening the provisions in schedule h. The limitation period to commence legal suit in court would be 6 years pursuant to section 6 1 of the limitation act 1953.

For individual titles the time for delivery of vacant possession can be found in schedule g. Liquidated damages is calculated from day to day at the rate of 10 per annum of the purchase price as set out in the sale and purchase agreement from the expiry of the prescribed time for the developer to deliver vacant possession to the date the purchaser takes delivery of vacant possession. Schedule h or schedule g or a bespoke spa drafted by a lawyer would always contain a clause that states the effect of late delivery of vacant possession commonly known as the liquidated and ascertained damages lad clause it dictates the sum that the home buyer can collect as compensation for the breach.