Development of Co-proprietorship Land in Malaysia Through Unincorporated Joint Venture
摘要
Joint ownership or co-proprietorship refers to the property owned by two or more persons. Basically, the co-proprietor of the undivided share will not be prohibited from developing his land or portion thereof. However, challenges in developing their land include obtaining the consensus of all the co-proprietors of the land and securing financial support from financial institutions or other third parties. Thus, it is a trend to elect for land development under a private arrangement, namely, a joint venture. The existing law and Malaysian land policy provide, among other, no standard Joint Venture Agreement (JVA) to be adopted in developing the land that looks after the rights of parties, ensures a fair agreement is entered into and monitors the implementation of the housing development projects. Hence, this article examines the concept of co-proprietorship of land, which includes the right to development, a mechanism for development, and some legal issues. The study adopts a doctrinal analysis by examining the existing primary and secondary materials, including statutory provisions as provided by the National Land Code (Act 828), the Land Acquisition Act 1960, the Contract Act 1950, Rules of Court 2012, the Partnership Act 1961, Federal Constitution, case law and other legal and non-legal literature relating to the development of co-proprietorship land in Malaysia. It is suggested that preliminary due diligence should be conducted to avoid the possibility of future setbacks and that a legal mechanism be developed to overcome the arising issues relating thereto and for effective land development.