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 Leasehold & Freehold property, advice needed

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TScheahcw2003
post Aug 18 2009, 10:13 PM, updated 17y ago

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Does anyone know for a leasehold strata title property that bought under bumi quota, can it be sold to a non-bumi? the property still under construction, and thus strata title not being issued yet.
kee1
post Aug 19 2009, 04:26 PM

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QUOTE(cheahcw2003 @ Aug 18 2009, 10:13 PM)
Does anyone know for a leasehold strata title property that bought under bumi quota, can it be sold to a non-bumi? the property still under construction, and thus strata title not being issued yet.
*
manyak-manyak susah
if can , also manyak-manyak lama.
can take up to 6months to a year for the approval from the relevant authorities eg DBKL,MPSJ etc.

leasehold usually got 'sekatan' or encumbrances, must check first

leasehold, non-bumi to non bumi - takes time
leasehold, bumi to non bumi - even longer


iamsuccess
post Aug 20 2009, 02:54 PM

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QUOTE(cheahcw2003 @ Aug 18 2009, 10:13 PM)
Does anyone know for a leasehold strata title property that bought under bumi quota, can it be sold to a non-bumi? the property still under construction, and thus strata title not being issued yet.
*
Try to avoid buying leasehold, if you can. I used to ask people whether freehold or leasehold is better. Then started to realised that it is a no brainer. Freehold is definitely the way to go. Leasehold has too much problems associated with it and the property price tends not to appreciate much. I bought a leasehold property and staying in it now. Lesson learnt. smile.gif
TScheahcw2003
post Aug 20 2009, 04:06 PM

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Thanks for the answers, dude. I have got the answer and confirmation by the developers and lawayers. The answer is as long as the property is not a Malay/Bumi reserved land then it is freely trade to anyone. Developer sells to Bumi to meet 30% Bumi Quota, it will not stamp on the strata titles that the particular lot is BUMI LOT and only can sell to BUMI upon issuance of titles.

 

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