Make sure that you get it acknowledged properly. In your letter you ought to demand for a full refund as well. If they don't refund you would need the acknowledged letter to show that you've rescinded the agreement.

Should be alright.

Hi dario..one more quest..i read that in d consumer act for direct selling (i signed up for medical checkup scheme with kpj wellness) the cooling off period will be cancelled if apayment has been made during the period..is this true?

Hi, i have an issue where the developer is charging me late charges due to the late progressive disubursement by the bank. Below is the timeline of things took place:

24/10/2010 - Paid 10% downpayment
12/01/2011 - Loan offer letter produced from bank, and signed
16/01/2011 - S & P signed
20/01/2011 - Letter from developer saying approval of loan from bank, and demanding to pay the amount difference between loan amount and purchase price
25/04/2011 - S & P stampped
25/04/2011 - Loan agreement stampped

Progress claim Date claim Due Date (21 days) Date Paid Over Due Note
10% 24/10/2010 24/12/2010 24/10/2010 No 10% downpayment
20% 14/11/2010 04/12/2010 02/12/2010 No Self paid as there's issue with bank loan
35% 15/12/2010 05/01/2011 26/01/2011 Yes Self paid as there's issue with bank loan
30/05/2011 Yes Late disbursement by bank
45% 09/01/2011 29/01/2011 30/05/2011 Yes Late disbursement by bank
55% 26/01/2011 15/02/2011 30/05/2011 Yes Late disbursement by bank
75% 27/03/2011 16/04/2011 30/05/2011 Yes Late disbursement by bank

80% 13/06/2011 03/07/2011 10/07/2011 Yes Late disbursement by bank

Based on the information above, is it the late disbursement by bank is due to the delay from the bank/lawyer side? Since the loan offer letter 12/01/2011 already signed and developer already noticed of approval of our bank loan on 20/01/2011?
If the late disbursement by bank is due to the delay by bank/lawyer, i ssupose the late charges should not be charged to me?

Please let me know if any further information is needed.
Thanks a lot!

Hi sifu sifu.. Me as a seller
Is it very not recommended to use purchaser lawyer? We have tight budget therefore thinking of using same lawyer as purchaser.

My customer ask me this question....me as banker to my customer.help him ask.

Why the seller suddenly terminate the transaction without paying any compensation to the buyer? Buyer now have to bear all the legal cost and seller use the buyer lawyer.

If all seller suddenly terminate as they like then buyer at disadvantage.

Hi Dariofoo,

Wonder how will property gain tax be calculated if my friend inherits a house from her father who has passed away and say she dispose it off within 5 years?

Will it be calculated from the time the house is transferred to her name and at what price since there was no real monetary sum.

Thanks.

Can you please mention the section and the act you're referring to?

How much is your loan sum?
Has the developer demanded from you any late penalty interest so far?

There are pros and cons. Reading up the first few pages of this thread can help you as this topic has been discussed before. Ultimately, if you are confident that all will go smooth and you don't really need someone to safeguard your interest, then you can 'tumpang' the purchaser's solicitor. Just remember that it is not sharing solicitors, as most people always assume. You are deemed to be unrepresented.

You go back to what is stated in the letter of offer, if the SPA has not been executed. Does it provide for the seller to pay compensation? If yes, then claim. Does it provide for the right to specific performance? If yes, then get a lawyer and file a civil suit for specific performance. If nothing is stated, then buyer suffers the loss due to his own folly in not insisting for terms which benefits him from being included in the letter of offer.

If SPA has been executed, look at the terms. Surely the buyer has the right for specific performance. Go for it then.

Hi dariofoo,

The loan amount is 60k.
Yup now the property is completed, and the developer ask me to collect the key, but before collect the key, need to pay the late charges.
From the situation, i suppose the late charges should not be charged on me?
What should i do?
Thanks a lot!

Roughly speaking, RPGT is disposal price less acquisition price.

In this case, acquisition price is nil as it was acquired via inheritence.

As such, when filling up Form CKHT 1A (for seller), the column of acquisition price must be left blank. LHDN will assess the market value of the property at the time of transfer to your friend, and calculate the RPGT.

In any event, the seller has to pay 2% of the purchase price being advance payment of RPGT to LHDN. Any excess will be refunded later once LHDN has done the calculation.

There seems to be an unsual delay at the 45%, 55% and 75% stages. The delay is from the bank, and not the lawyer. The lawyer's role comes to an end once all the original documents and security documents has been handed over to the bank and the advice for drawdown of the first progreesive payment is given by the lawyer. After that, it is between the developer and the bank directly.

Has the developer shown you a copy of the respective copy of the their letters demanding payment of progressive payment acknowledged by the bank? Letters can be dated anytime, but it is the date of receipt by the bank which matters.

If indeed there is a delay, you first have to make payment to the developer in advance, as you need to collect your keys. After that, go to the bank and demand to be reimbursed by them. You would need to write officially to them, supported by documentary proof of the delay on their part.

Thanks for your reply.

By the way, is their any tax payable for inheriting asset?

Hihi
I would like to ask, my mom passed away 5 years back and got a will to pass half the hse to my bro n sis, but i havent execute the will yet.
Now my dad would like to pass his share to me.
What is the best cost saving way to do this? Can we skip the lawyer part or the will and just go straight to the land office to transfer the title to the 3 of us? What are our options?

Thankss!

Nope. Estate duty/tax in M'sia was abolished in the early 1990s.

With regard to your late mother's half-share - are there any other bequests in her will apart from the half-share in that property? No monies in bank accounts, EPF, etc? If none, then you can go to the land office in question (refer to the title) and do a transfer under the Small Estates Distribution Act. You don't need a lawyer for that, but as to the exact step-by-step procedure, I am not sure. You would need to make a trip to the land office to find out personally.

With regard to your father's half-share, you can do it on your own - provided you know how to draft a Form 14A (MOT), fill up the Form for adjudication, fill up the CKHT forms for both parties, send the MOT for stamping (50% rebate will be given), and finally present the MOT for registration. If you have the time and patience for all that, go ahead.

Good luck

Tq dariofoo. Appreciate your contributing here.

From the bill from lawyer, there is CKHT which RM300 per pax. We have 3 person, therefore RM300x3=RM900.

Lawyer told us that if we have tight budget, we may proceed to submit the form ourselves to reduce of rm900, but lawyer still hold the 2%.

Wanna seek your advise, is a straight forward process to fill up CKHT? Go LHDN, fill in the form and submit, thats all?
Any fees incurred during our submission of CKHT and lawyer to hold the 2% and submit to LHDN?

Thanks.

Wow thanks so much!....sounds like a lot of work @@
The WIll got nothing except for the half house and 1 car which is for me. How arh?? Got car woh...but i am paying on behalf for her. Can just transfer to me by bringing the will to the bank?

Very honest of the lawyer to say so. Yes he has to hold the 2% as it is the duty of the purchaser to pay the 2% on behalf of the vendor. No fees incurred for submission of 2%.

It's not that complicated, but you do need to watch out not to make any mistakes, as some LHDN branches are known to turn down forms which are amended or corrected using a correction pen. Check out this thread (perhaps 20 pages back) where there's a member who submitted his own CKHT form. Perhaps you can contact him for further details.