And, will buying a property with master title, will fasten the transfer of ownership title?

From what i know,
Master title = the big whole title that the developer have to build the whole construction project.
To transfer to ownership title, you need to wait for individual title that cut out from the master title.

Yup, I think in TS case, the property not yet got individual title.

Master title = big pie

Strata Title = slices of pie from the big pie

In that case, will it make a difference between holding a master and a strata title?

developer holds the master title. you don't.

once the big pie has been sliced. only you will get the individual title.

but that will take years... haha!

This post has been edited by Winning11: Nov 26 2009, 11:39 PM

if it is a subsale and the property is under master title, compared to the one with a strata title, any difference in the length of the process of ownership transfer?

ownership from vendor to buyer? no. i don't think there will be any difference.

ok...thanks ya.....

In malaysia, the land system that we practice is called the torrens system whereby each and every part of the land is registered with an owner. If the land is huge, and not yet been subdivided it'll be called master title because as stated earlier, every part of the land must be 'registered'.
Once the individual (as in the case of landed property) or strata (multi stories building) title is issued by the relevant land office, the perfection of transfer from the landowner (or developer as the case may be) to respective purchaser must be done via the correct instrument.
As what earlier posts have correctly described, master title can be equated as bigger pie but sometimes, direct purchase from the developer also can be individual title, not necessarily be master title.
A better answer will be, in master title case, the property that you are staying is still under the name of landowner (or developer as the case may be) whilst for individual title, the property will be held under the respective purchaser's name.
Do I make myself clear?

---

Added on November 28, 2009, 11:14 am'if it is a subsale and the property is under master title, compared to the one with a strata title, any difference in the length of the process of ownership transfer?'

The answer is depends. Many factors needed to be taken into account. Conventionally, the drafting of the Sale and Purchase Agreement will be 3 months upon confirmation by the landowner (or developer) that the Vendor is the beneficial owner. If there is a delay from the landowner, then the duration will be longer. On the other hand, if it's individual title, the commencement will be date when the SPA is dated and stamped-there isn't a need to get confirmation from the developer because the Vendor is already the owner.
The other factor may be the consent (usually leasehold properties). The commencement will start to kick in after obtaining consent from the State Authority in which may take months to get approved.

This post has been edited by me_1980s: Nov 28 2009, 11:14 AM

thanks alot...u made it so clear

No worries.. this is what a forum meant to be. Help each other out and share the knowledge

my friend's condo will get the individual title from developer and she was asked to pay RM5K++, why is that so much fees? anyone exprience this?

the old apartment i'm staying. after staying there for almost 20 years, my dad got it, and it cost about 600+

i think it will depend on the property value

http://www.iproperty.com.my/news/246/Trans...les-or-be-fined

Thanks for your post. Very clear and helpfull.

Given that the property I buy is under master title



And, my s&p mentioned that:

The Completion Period Three (3) months from the date of, either:

(a) receipt by the Purchaser's Solicitors of the Developer's Confirmation together with the State Consent to Transfer pursuant to Section 3.02, if applicable or the Developer's and if applicable, the Proprietor’s undertaking under and pursuant to Section 3.04, as the case maybe; or



(b) this Agreement



whichever is the later.

This would mean, the late pymt only comes into effect 3 months from the date my lawyer received confirmation by the developer that the seller is the beneficial owner, instead of the s&p date (which is earlier)?

Correct?