Joint name property means ‘joint ownership’ or ‘co-proprietorship’ of a property. It simply refers to two people (or more) who each have a share of the same property. This could include cohabiting couples or friends or family members who own a property together. Whether you are a joint owner with your partner, a family member,…
1. Deposit of Purchase Price It could be 10% of the purchase price, or it could be any different amount as determined by the agreement between the seller and the buyer. 2. Legal Fees for Sale and Purchase Agreement & Loan RM % Up to 10,000.00 2.50 For the next 40,000.00 1.00 For the next…
1. By Way of Transfer & Transmission • Transmission between Deceased to Executor/Administrator and the transfer between Executor/Administrator to the Beneficiary is deemed no loss or gain. • In this event, no RPGT will be imposed. 2. Transfer of Deceased’s Property in Sub-sales Situation • Transfer of Deceased’s property in sub-sales situation is depending on…
Individual Title Master Title Concept Had undergone subdivided process and issuance of separate issue document of title for each unit of property has been done. Yet to undergo sub-divided and separate issue document of title for each parcel of property yet to be obtained. Land Search Owner’s name will be showed on the land search….
In the Malaysian real estate market, there are two (2) common types of property transactions, which are stated below:- Developer Sales: Developer Sales are the purchase of properties directly from the Developer. These properties are usually brand new or under construction, whereby the buyers are the first owners. Sub-Sales: Sub-Sales, also called secondary sales. Sub-Sales…
The definition of ‘matrimonial assets’ under the Law Reform (Marriage and Divorce) Act 1976 The interpretation and definition of the term ‘matrimonial assets’ under the Malaysian Law is rather wide and straightforward. Section 76 of the Law Reform (Marriage and Divorce) Act 1976 (Act 164) empowers the court to order division of assets between parties…
Upon confirmation from the bank that your housing loan has been fully settled, your first step will be appointing a qualified lawyer to assist you with the next procedure, of which there are two types, which are MODC which is for the property with individual strata title and the DRR which is for the property…
Have you ever thought of transferring your property during your lifetime to your family members? If you’ve been worried about legal costs and stamp duty associated with transferring your property to your family members, there’s good news, our government has recently announced a stamp duty waiver. How much do you save if you transfer the…
What is Power of Attorney? Power of Attorney (“PA”) is a legal instrument where the Donor confers the authority to the Donee to act on behalf of him in the performance of specific acts. In order to create a valid PA, it must be executed before an advocate and solicitor or such other person as…
什么是租赁产权？ 租赁产权是指该产业亦或者房屋建于政府土地之上并在取得政府同意之下可拥有以及使用该产业长达30，60亦或是99年之久。理论上来说如果租赁期逾期了， 而地主并没有及时向相关单位申请延长或是更新租期，那政府有权在任何时候收回该土地的所有权以及使用权 那该怎么更新租赁产权呢？ 地主可通过律师来提交申请去相关土地局。若地主想自行提交相关申请，所有的申请文件都需由律师见证同时地主需提交更多的相关文件，土地测绘图于相关土地局。在提交申请之前，地主须知该地契是否最终地契(final title). 最终地契是指该土地已经获得具体和最终测量并且在土地局以及在马来西亚测绘部都已有该地契的相关完整资料。我们常见的最终地契的例子有，Geran, Geran Mukim, Pajakan Negeri, Pajakan Mukim等等。如果地契并不是最终地契，那么需由律师提交最终地契申请于土地局及测绘部，并在转换最终地契之后才可申请更新租赁产权。这也是其中一个原因让更新租赁产权的过程更加繁冗漫长，有时批审结果可长达2年或以上之久 那我该什么时候提交更新租赁产权申请呢？ 我们强烈建议地主应当在租赁期少于30年时提交申请这是因为土地的价值往往会因为租赁期少于30年而被拉低影响。房产、土地的租赁期也会是银行考虑贷款多少以及批不批准的因素之一。 如果我拒绝提交更新租赁产权申请，会有什么后果呢？ 如上述所描写，租赁产权需要取得政府同意之下可拥有以及使用该产业。当租赁期逾期了之后，政府有权收回该产业并且开放于大众竞标。如果说在租赁期还有效的情况下政府收回该土地，政府往往会给予地主一笔可观的赔偿金。但在租赁期逾期并没有更新的情况下，政府有权在任何时候收回土地并不给予任何赔偿或减少赔偿不等。如果在租赁逾期之后才提交申请，政府也有权拒绝该申请亦或是提高的租金（premium）或罚款等等，有时租金或罚款金额甚至等同于该房屋的买卖价格。值得一提的是租金的多少是根据该土地更新当下的市场价值来计算。 那么租金多少呢？有没有什么隐藏费用需要注意？ 租金的多少是根据该土地更新当下的市场价值来计算。在申请更新的过程中，土地局须向政府估价局（JPPH）提价估价申请。详情可浏览我们官方网站，太阳报 （The Sun）专访。其余的费用还包括律师费，申请费用，会测局购图费用，以及其他等等。当然您可直接联络我们报价。我们会给您一个完整的报价。 我住的是公寓，那我要怎么更新租赁期呢？ 公寓或多层产权（Strata Title）的更新往往是由产业管理层 (management body)发起又或是在居民大会里表决来决定需不需要更新申请。更新费用将会由居民平分。 这么麻烦，那么我选择没有租赁期的房产 (freehold) 就好了不是吗？ 在马来亚半岛，所有的土地不管是有租赁产权或永久产权政府都可以收回该土地。唯一的差别是，租赁产权需要更新并且所有的转卖，转名，抵押都需政府同意。而在租赁期逾期的情况下，政府可直接收回土地并不给予任何赔偿于地主。相反，如果政府有意收回永久产权，赔偿是不可避免的。值得一提的是在马来亚半岛，有些永久产权也需要政府的同意之下才可买卖抵押。 若有任何疑问或需要法律咨询，请联系我们的律师。 This article is written by Toh Chin Lee Partners, Low & Partners Julene Ngui Yew Feng Legal Associate, Low & Partners
