The standard S&P with 18 months DLP is for residential homes sold by developer.

What is the property are you buying commercial, residential (sub-sale), direct from house developer etc?

S&P can have variations esp for commercial and sub-sale property.


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Posted this on the home defect thread, hope the information helps:-

Long time never visit this page...

Transfer of DLP really depends on how the property is sold. This is not legal advice but I'll try to share.

1) Sold by assignment.
Property sold by assignment can continue to enjoy the remaining DLP because the original S&P is still valid. Layman term is tukar nama.
Sauce: HBA read page 8.
Consent charges
When there is no separate title (individual or strata) the developer shall not withhold its consent to any intended sub-sale, transfer or assignment by the buyer to any third party and shall endorse such consent within twenty (21) days from the date of receipt of such assignment. The buyer shall pay to the developer for giving the consent an administration fee of RM500 or 0.5% of the purchase price, whichever is the lower.

2) Sold by direct transfer.
After individual property title is issued and property registered to the original owner name. The new buyer cannot claim DLP because the original S&P lapses. Basically the new owner is considered to have purchased the property on "AS IS" basis. Similar to what "Arkadeuz" posted.

10. Vacant Posession
10.1 The parties hereto hereby agree, covenant and undertake that the Purchaser has prior to the execution of this agreement inspected and viewed the physical state and the condition of the said Property and the Purchaser is fully satisfied and accepts the same and and that the said Property is sold on "as is and where is" basis with the vacant possession
11. Condition And State Of The said Property
11.1 The said Property has been made available for the inspection of the Purchaser and the Purchaser has inspected the same prior to the execution of this Agreement. The Purchaser hereby declares acceptence of the state and condition of the said Property as the date of this agreement. The Vendor shall not be required and/or liable to carry any additional works whatsoever on the said Property.

This post has been edited by aaronpang: Feb 8 2011, 03:02 PM