The grant is still in your late mother's name and she would be the first named driver in the policy schedule. Are you one of the named drivers in the insurance policy? If not, you're at risk as your vehicle would not be covered in the event of a collision, whether it is a first party or third party claim. It doesn't matter if you're paying the monthly installments every month. Do check up on that.

A will is not good enough. You would still need a grant of probate by the Court,. With the grant of probate, the executor of your late mother's estate would then approach the bank to see how to resolve the issue of beneficial ownership of the vehicle as there is still an outstanding hire-purchase sum due to the bank. Refinancing would most likely be the answer - whereby you as the beneficiary would have to be the borrower.

System may be the best but what if system is down, as it always happens in the govt service sector? Applications can go missing, officers can go on leave/kursus. Talk to anyone who has dealt with the land offices over the years and they will tell you how poor the system is there.

6 months is quite standard. Sometimes it can be 6+3 months.

This post has been edited by dariofoo: Oct 29 2011, 02:28 PM

help-needed:


1. Am not entirely sure about this as this concept of "changing from ordinary laon to staff loan" would best be answered by the mortgage consultant advising you in this matter as I am not aware of the mechanism of it. If it is the same as refinancing, then you're looking at legal fees plus stamp duty as well. The legal fees will be scaled according to the loan sum.

2. You can't add your name to the SNP. Ownership depends on the title, not the SNP.

Two scenarios:
a) If there property is with title, then your gf can transfer half share in the property to you. This is called subject to charge - and this can only be done with the consent of the bank. If they do not allow same, you have to refinance it. Fees and costs for refinancing will be the same as above.

b) If the property is without title, the only document to show beneficial interest is the deed of assignment (DOA). As she is the sole person in the SNP, the property is wholly assigned to her (assuming it is a subsale as you did not mention). She will then assign it to the bank in exchange for a loan. At this stage, there is no change of name that can be done, as she is not the registered proprietor of the property, but is merely the beneficial owner. To include you as a person who has a right by way of assignment, she would have to refinance it, assign half of her beneficial right over the property, and both of you would be the borrowers for the new loan. Fees and costs for refinancing will be the same as above.

With regard to legal fees for transfer - as the subsequent transfer will be for love and affection, the SRO provides that the legal fees for transfer shall be a reasonable sum, but in any event shall not exceed the scaled fees in accordance to the market value of the property.

For option 2, you would need another document to secure your interest in the half-share, and that is a deed of trust. This will confirm that your gf is holding half-share of the property in trust on your favour. Your lawyer would have to prepare this document to secure your interest, as there is nothing on paper [looking at the SNP and the loan docs] to suggest that you have a right over the property.

Option 1 is more viable and is less complicated than Option 2.

Good luck

You can insist on a timeframe to be given to the lawyer if you want to. Any clauses in the SPA is subject to negotiations and approval from both parties. If you think that the purchaser's solicitors would be slacking up to buy more time for the purchaser (like in a scenario where the purchaser is still shopping around for the best loan and needs to buy time), then you can insist for such a clause.

I repeat the last line of my earlier reply, as you may have missed it:

At this stage, you would need to seek legal advice and your lawyer can advise you as to the best method to get your money.



This post has been edited by dariofoo: Oct 31 2011, 04:37 PM

Sorry boss, don't have a crystal ball to get that answer for you.

Humble apologies

You can of course do it yourself if you know how to prepare the cause papers to be filed in Court. I must warn you in advance that it is not a form which you can go to line up at the counter, pick up, pay and collect. It is basically a Court case which will culminate in a hearing before a Deputy Registrar who will make sure that all papers are in order before allowing the executor to obtain the GoP.

Yes, you can, provided that your financial standing is good enough. That is ultimately up to the bank to decide based on their guidelines.



This post has been edited by dariofoo: Oct 31 2011, 04:34 PM

I repeat the last line of my earlier reply, as you may have missed it:

At this stage, you would need to seek legal advice and your lawyer can advise you as to the best method to get your money.

During handover of keys there would be several outgoings to be paid to the developer by the purchaser. It could be, among others, deposits for maintenance and utilities. Probably that was what was meant by Misc Fees. By now you would have the said letter and have read the full details of the outgoings.

Do note that you can't delay to accept the keys. Normally a certain number of days is given to the purchaser to collect the keys, failing which it will be deemed to be collected.

As to option 1 or 2, it is all down to dollars and cents. There's nothing legal about it. Calculate and select the option would get you a bigger paycheque from the dev.

Good luck

anniesia:


This is one of the huge disadvantages of appointing the purchaser's solicitors as common solicitor. Without a solicitor, you can't keep the purchaser or the purc's solicitors in check.

1) What is the delay? Is it beyond the completion date? Why must you pay RM200? Surely there must be an invoice for it. Don't pay unless you know what it is for.

2) Look at your SPA and see what is states on surrender of vacant possession (VP). Normally, VP would be 3 working days from the date of receipt by the purc's solicitors of the cheque for balance purchase price. Most of the time, surrender of VP would be same as handing over of cheque. It's basically an exchange. See what's stated in your SPA.

3) Is this stated in the SPA? If there are fixtures and fittings or even furniture to be part of the sale, there ought to be an annexure at the back of the SPA with a list of it. But if you're not disputing the amount, then you can pay. This amount can be deducted from the balance purchase price. Not a big issue.

4) You mean the keys have been handed over?

5) With regard to the condition of the house - it is normally sold on an 'as is where is' - i.e. the condition when the buyer viewed the house, fair wear and tear excluded. It can be argued that slight cracks are wear and tear of the house. As such, it is not your duty to repair it. Furthermore, it is highly unlikely that the buyer did not notice the cracks when viewing the house. Surely he knew about it.

If there were leaking problems, it ought to have been brought to your attention immediately. Furthermore, when keys are handed over, the vendor ought to be present to inspect the house together with the purchaser one last time, especially since it is not a new house. That would've been prudent. Now, the advantage is to the buyer as they can say that the leaking had alrady occured even before the surrender of the keys. You do not know for a fact that it could've even happened a day after surrender of keys! If it was the next day, it would not have been your problem anymore.

In any event, the lawyer cannot hold onto the balance purchase price like that. That would not have been stated in the SPA. Check again, if it states so. If it does, then it's going to be a problem for you.

You need to make it clear to the buyer that you would repair the leaking (if any) and that you would appoint your own plumber/contractor to assess the damage and give a quotation. If indeed there is a leak , you would have to bear the cost as it is no longer fair wear and tear.

Yes, I would suggest that you ask around and appoint a lawyer who is familar with litigation to pursue this matter on your behalf. A letter must be sent to the purchaser's solicitors to deal with the balance purchase price. Your lawyer can advise you further upon perusal of the terms and conditions of the SPA.

Rent to the purchaser, I suppose?

It can be done and is often done. Just make sure that you have some black and white in place. Your lawyer ought to know how to prepare it.

Don't plan to share what was in the developer's letter? All sorted out?

1) Depends whether the property is encumbered to a bank or otherwise.
2) One law firm can do the transfer. Party A would have to bear the cost, though.
3) When you say "remove", what is essentially happening is that B is transferring/assigning his half share to A. Is it pursuant to a sale of the half-share? Or is it a gift from B to A? If sale, you look at the SPA price. If transfer as gift, it is a reasonable amount not exceeding the scaled fees. In this case, the scaled fees would be based on the prevailing market value of the property. To calculate legal fees, please use the legal fees calculator using the link at the first page of this thread.

That may give rise to several problems:

1) The purc has inspected the property and is satisfied with its condition at that stage. He has agreed to buy it on an "as is where is " basis. If you now bring in a short term tenant, you can no longer guarantee that the property would be in the same condition as the purc has viewed. Worst case scenario is if the tenant messes up and thrashes the place.

2) You cannot predict for sure when the completion date will fall. It may be within the 3 months given to the purc. Whatever it is, you must be ready to surrender vacant possession to the purc within a certain number of days from the date you (or your solicitor or the purc's sol, as the case may be) receive the balance purchase price. Failure to do so would entail a penalty to be paid out of your own pocket to the purc.

3) Worse case scenario would be a belligerent tenant who refuses to vacate the premises after the tenancy (let's just say 2months) period has ended. You cannot predict such circumstances. It could happen to anyone, including you. So you bear the risk of having to pay late penalty interest (as explained above) AND legal fees to obtain an eviction order against the tenant.

So, better unit empty or else wallet might be empty

It will be done at the same time. Even can be done with the same law firm.

Second charge created over the property in favour of the bank as a security of the additional sum lent to you.

With regard to bank procedures, you might want to pose same in the open forum in order for bankers to advise you on same. It is not legal in nature and as such, I'm not in the best position to advise you on same.

Since they refuse to pay what is due to you, you would have to seek legal redress in court through a lawyer.

Without incurring too much legal fees?

In that case, you would need to find a lawyer who can do your case for cheap cheap.

Such a long delay. This is quite unusual. Normally such long delays occur in cases where the land office misplaces the documents (am referring to the original title) and a replacement is being made.

If there is a typo error and documents needs to be rectified, the delay would not stretch until 10 months.

Hasn't your lawyer updated you at all?

What was the reason given for the delay? At your end? Some people get fed up with their lawyers and personally attend at the land office to see what's going on. Depends on whether you want to do so, but out of courtesy, you ought to inform your lawyer that you are going to do so.

The developer is in liquidation. You did not mention anything about the proprietor of the land. The developer may not be the owner of the land. As such, the owner is called the proprietor. In any event,there's nothing to worry about. As long as the liquidators have a complete set of all the documentation from the developer, there ought to be no reason why the sale cannot proceed. No money is going to go to the liquidator anyway, as the vendor has surely settled as his dues with the developer prior to liquidation.