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 stamping fees and S&P progress

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TStheblues
post Feb 11 2010, 12:09 PM, updated 16y ago

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I bought a condo from an owner which strata title not issue yet.


I have paid the legal fee upon signing S&P, but the stamping fee was not pay yet.

My questions are:

When the stamping fee should pay?
What are the pending progress for the stamping or transfer of title?
How to consider the purchase is complete? What document to prove the transaction is complete?

Thank you. notworthy.gif
Tohsan
post Feb 11 2010, 12:25 PM

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QUOTE(theblues @ Feb 11 2010, 12:09 PM)
I bought a condo from an owner which strata title not issue yet.
I have paid the legal fee upon signing S&P, but the stamping fee was not pay yet.

My questions are:

When the stamping fee should pay?
What are the pending progress for the stamping or transfer of title?
How to consider the purchase is complete? What document to prove the transaction is complete?

Thank you. notworthy.gif
*
How to consider the purchase is complete?

Answer:
1. S&P are signed by both parties and stamped.
2. After the lawyer executed the MOT in your favour.
3. Loan fully draw down by bank.

This post has been edited by Tohsan: Feb 11 2010, 12:26 PM
TStheblues
post Feb 11 2010, 01:00 PM

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QUOTE(Tohsan @ Feb 11 2010, 12:25 PM)
How to consider the purchase is complete?

Answer:
1. S&P are signed by both parties and stamped.
2. After the lawyer executed the MOT in your favour.
3. Loan fully draw down by bank.
*
Thanks for explanation.

And,

2. After the lawyer executed the MOT in your favour.

how can I check this?

This post has been edited by theblues: Feb 11 2010, 01:01 PM
Tohsan
post Feb 11 2010, 04:22 PM

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QUOTE(theblues @ Feb 11 2010, 01:00 PM)
Thanks for explanation.

And,

2. After the lawyer executed the MOT in your favour.

how can I check this?
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You will have a copy.
Blue07
post Feb 11 2010, 07:08 PM

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QUOTE(theblues @ Feb 11 2010, 12:09 PM)
I bought a condo from an owner which strata title not issue yet.

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Strata title = individual title for your unit. If not yet issued, cannot transfer title. So, no MOT until issuance of strata title.

leongal
post Feb 11 2010, 07:17 PM

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QUOTE(Blue07 @ Feb 11 2010, 07:08 PM)
Strata title = individual title for your unit. If not yet issued, cannot transfer title. So, no MOT until issuance of strata title.
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correct, will have the "deed of assignment" instead

QUOTE
A Deed of Assignment is a document or agreement which an assignor (the transferor) states his promise that from the date of the assignment or any date stipulated therein, the assignor assigns his ownership in that property to the assignee (transferee). A simple illustration would be when the developer signs a Deed of Assignment to transfer their ownership of that piece of property to the purchaser. When that purchaser decides to sell that property to a subsequent purchaser and the Document of Title has yet to be issued, the purchaser will sign a Deed of Assignment assigning his rights under the original Deed of Assignment to the subsequent purchaser. This will go on until the Document of Title is issued.


http://finmats.com/2007/10/10/what-is-a-deed-of-assignment/
Tohsan
post Feb 11 2010, 09:14 PM

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ahhh ya... DOA! get already?
Chester
post Feb 11 2010, 10:02 PM

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how to stamp s and p? been staying in the condo for 2months but not sure whether my sale really complete or not, f***ing lawyer resigned halfway thru, like half boiled. i mean assosiate. oxy moron.
Tohsan
post Feb 12 2010, 08:59 AM

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QUOTE(Chester @ Feb 11 2010, 10:02 PM)
how to stamp s and p? been staying in the condo for 2months but not sure whether my sale really complete or not, f***ing lawyer resigned halfway thru, like half boiled. i mean assosiate. oxy moron.
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sent to stamping office n chop, takes u less than 30 second just to do that!

 

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