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Lawyers Corner, A one-stop centre on lawyers and queries
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X-Zen
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 Jul 8 2011, 04:43 PM
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sorry i created a thread on this but only saw this usefull thread
appreciate the response
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Hi,
I'm buying a subsale property
The seller does not want to engage any lawyer from her end so only use my (purchaser/buyer) lawyer
1) Do i pay more to my lawyer in this case compare to the seller engage her own lawyer
2) In this case, who pays for the income tax submission fee for seller (since she does not have a lawyer)?
3) In this case, who pays for the discharge charge fee from current owner (seller) bank since seller does not have a lawyer?
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X-Zen
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Jul 8 2011, 09:14 PM
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QUOTE(dariofoo @ Jul 8 2011, 08:36 PM) 1) You pay the full scaled fees for your lawyer as the lawyer is deem to represent you. The seller is deemed to be unrepresented. To calculate the fees you can download the SRO at the first page, or use the link to calculate. 2) The seller has to bear the cost of it - RM300/pax. For purchaser it is RM200/pax. 3) The seller has to bear the cost - RM300/discharge of charge OR RM400/deed of receipt and reassignment. Don't be bullied to pay the cost of the above on behalf of the seller. Know your rights  woo thanks dariofoo last question since we are on this subject, what's the differences between discharge of charge AND deed of receipt and reassignment notice that you use the word OR in which scenario would one or the other apply? any circumstances where both are applicable? |
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X-Zen
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Jul 11 2011, 08:13 AM
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QUOTE(dariofoo @ Jul 8 2011, 09:23 PM) Discharge of charge - where there is individual title out for the property. If the seller has an outstanding loan with the bank it will be secured by way of a charge created over the property. So discharge of charge simply means to remove the charge. Deed of RnR - where there is no individual title for the property. If the seller has an outstanding loan with the bank it will be secured by way of a deed of assignment duly executed and stamped. So deed of RnR simply means that the bank re-assigns all its rights over the property back to the vendor. After that, the vendor will assign his rights over the property to you - by way of a fresh deed of assignment. Then you assign your rights over the property to your bank via a deed of assignment as well.  thanks again bro just want to say what a good job you are doing here |
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