What is a POT? It basically is a process of perfecting or registering the separate title to a property i.e. the duly issued Individual or Strata Title by the relevant authority under the name of a property purchaser. This circumstance usually occurs when the property is previously purchased on without title basis and that the…
POC is a complimentary process performed together with the Perfection of Transfer. This process is only applicable when the purchaser bought a property via financing provided that the purchaser / borrower has still yet to settle the facility / loan granted by the Bank as of the date when the Individual Title or Strata title…
Whether the date of delivery of the vacant possession of the building in Sarawak shall be calculated from the date the booking fee was paid OR from the date the Sale and Purchase Agreement was signed? The method of calculating the date of delivery of vacant possession in Sarawak is provided in the Form B…
1. First Time Home Buyer Exemption Order Type of Instrument that can be Waived from Stamp Duty P.U. (A) 53 Memorandum of Transfer P.U. (A) 54 Facility Agreement • Applicable to First Time Buyer (the individual does not possess any property under his/her name, whether by inheritance or any other methods). • Purchaser is a…
One of the highlights of the Budget 2022, proposed by Tengku Datuk Seri Zafrul Abdul Aziz, our Minister of Finance, is that the disposal of real property by individual citizens and permanent residents (Part I as below) starting from the Sixth (6) years and above will be removed. Section 30 of the Finance Bill 2021…
Purchase of Properties in Malaysia by Foreigners With the blooming of the real property market in Malaysia, it is an ideal time for foreign investors to invest in the country. It is often said that Malaysia is still amongst the countries in Asia which has the most affordable property prices. Apart from that, with the…
The Differences Between a Conventional and Islamic Housing Loan and the Consequences of Default Regardless of whether you are a Malaysian or a foreigner, you are spoiled with choices of housing loans offered by banks in Malaysia, tailored depending on your needs. Most banks in Malaysia offer both Conventional and Islamic Housing Loan. How then…
The Strata Legislations provides for the maintenance and management of strata schemes and comprehensive procedures, scope of power and duties to different types of management bodies. Thus, it is essential for these different Strata Management Bodies to maintain and manage the subdivided buildings and their common properties in accordance with the statutory legislation [collectively “Strata…
Yours, Mine and Ours- A Tale of Indefeasibility Owning a piece of property does not necessarily guarantee that you’re the only person holding ‘title’ to it. Real estate fraud, or scams in real estate, are a real threat in recent times, what with the development of case law illustrating the severity of this legal pandemic….
The Perfection of Transfer (POT) and Perfection of Charge (POC) are both essential dealings in transferring ownership of a property. In most case scenarios, when a person buying an under-construction property from a developer, the property is still under Master Title. More often than not, the Master title denotes to a bigger piece of land,…
