As far as I know, normally for leasehold props the SPA is structured such that the 3+1 month period for completion of the sale and purchase process, starts from the time when State consent is obtained. Therefore, once consent is obtained, the transfer of title can definitely be completed within this period.

This post has been edited by baharinsav62: Apr 7 2011, 11:30 AM

Hi all, I'm new to all these bumi non-bumi thing. Appreciate if you all can give me some advice.

Case: If I'm nonbumi and i want to buy a bumi lot (leasedhold landed property) from developer. Developer later on successfully get approval from state authority and I successfully bought over that property.

Question 1: After the approval from state authority on this case, does it mean that this property is no longer a bumi lot?

Question 2: If I want to sell this property, can I sell to non-bumi? or i need to go through the bumi to non-bumi consent application again?

thanks.

I also wanted to ask the same question. Recently I just signed a S&P for a bumi lot shoplot. My lawyer has told me that after the title is successfully transferred to my name and if i want to sell this property to a non-bumi, I do not need to obtain the State Consent again. HOWEVER, if i want to sell this property to a BUMI, I need to obtain the State Consent again.

I'm just wondering whether my lawyer is saying the truth?

bro, mind to share how long does it take to complete the whole process of transfering frm bumi to nonbumi ?

i got a question on this.

after get consent to sell to non-bumi & transfer, will the phrase "Lot Bumiputra" still exist on the geran/title?

the house i'm planning to buy has the phrase "lot Bumiputra" in the geran/title

thanks for the explanation/help 1st

This post has been edited by scoop7: Jun 22 2012, 07:12 AM

Transferable.. We had 2 property transferred from bumi lot to non bumi lot.. Both landed property.. One FH one LH..
Took very long time. Over 1 year for the transfer after many appeals.. Manage to transfer on reasons that owner really needed the money for medical (chemotherapy) and one more for business purposes..

I see. Does your original geran has the phrase "Lot Bumiputra"?

The geran i'm looking at has the phrase "Lot Bumiputra" printed on it.

How about the reason of selling because already bought bigger house as an upgrade? I heard some use this reason and got it done

I don't think this is a valid excuse.

You bought bigger house (means you are rich) but your old house is still sellable to other poorer bumi.
So why should they allow you to sell to a non bumi and you are not really in need of urgent money.

Do you know why this bumi quota was first established ?

It is because non bumi are buying too many houses and bumi cannot buy any house

This post has been edited by jalsrix: Aug 25 2012, 11:13 AM

U use this excuse la," Tuan, saya perlu menjual rumah ini sebab saya dah beli rumah lagi besar dan tak mampu untuk commit kepada 2 rumah sekaligus. jadi saya perlu menjual rumah ini dengan cepat"

So as non-bumi,
Which type of bumi type can buy?
I need summary, too many new jargons. Anyone can help?

Very time consuming, 1 to 2 years, u need to pay premium to convert also, u need datuk bandar to endorse for u.

Everything still the same like u buying a non bumi lot, better look for other lah

if te condo is freehold, definately can.

I have clients doing it multiple times edi

Peri-peri, i will soon sell my one and only leasehold. so u recommend that i should not attempt to sell to non bumi and just sell to bumi? need ur comment

If it is freehold, will it take long? i am about to buy a freehold condo, the title is out, sekatan kepentingan is tiada, can we transfer the name without land office consent?

So sorry i need it to be done fast.

Thanks

Bloody hell!
If like dat, a bumi guy buys 20 lots of bumi property (with 7-10% discounts) and then, upon completion, write in to convert all his bumi lot into non-bumi (along with making noises and bringing it up to the ministers) he can then "flip" his property for a massive profit!

What a stupid rule!

Amint, the process will be faster and hassle free if you were to sell directly to bumi, however if u want to sell to non bumi u must ensure and prove that you've advertised and tried selling to bumi but no bumi takers interested in your unit after a period of time.

An officer from state department once explained to me that you also must have valid reasons to dispose your property to non-bumi i.e
1. To cover heavy medical expenses (operation, chemo, transplant, etc)
2. Facing near bankruptcy
3. Owe money to many alongs

She mentioned that the usual reasons of upgrading house, transfer to another state, etc are not strong enough for bumi to non bumi conversion.

Hope this helps. Cheers!

khedge, thank u for explaining. I appreciate it very much.

depends in lawyer, bank. should be 2months time if smooth

consult your lawyer

---

Added on August 26, 2012, 2:53 pmwelcome to Malaysia

This post has been edited by cloner: Aug 26 2012, 02:53 PM

heheh. welcome to malaysia. where all your dreams can come true. but in the process u need time or money. huhu