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 Transferring bumi-lot to non-bumi, Is this possible?

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baharinsav62
post Apr 7 2011, 10:02 AM

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QUOTE(zigot14 @ Feb 13 2011, 12:53 AM)
It's a condo. The property is 15 years old already tho, buying from another bumi owner. Does this affect anything?
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If 15 years old, strata title should be out already. If so, no need developer's consent.
From strata title, check sekatan kepentingan. If no sekatan kepentingan, no problem selling to non-bumi.
If got sekatan kepentingan e.g. lot khas/rezab untuk orang Melayu/bumiputra, then very difficult to tranfer ownership from bumi to non-bumi.
If leasehold, have to get State consent.

baharinsav62
post Apr 7 2011, 10:52 AM

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QUOTE(michaellee @ Apr 7 2011, 10:30 AM)
Just curious, since when/which state needs consent for leasehold land? Thanks.

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For leasehold land, before transfer of title between 2 parties can take effect, consent from the State Authorities is needed. As land matters are State matters under the Federal Constitution, all states have this ruling. That's why, in any leasehold land title, there is a clause in the sekatan kepentingan, stating something like " tanah ini boleh dipindahmilik, dipajak atau digadai setelah mendapat kebenaran Pihak Berkuasa Negeri".



baharinsav62
post Apr 7 2011, 11:28 AM

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QUOTE(michaellee @ Apr 7 2011, 11:11 AM)
You are right in pointing out that sekatan penting but as far as I know, I don't think the transfer of leasehold land should be any longer than freehold and normally the so called state approval is a rubber stamp thing. But just to be on the safe side, I will double check with the lawyers. I have bought a few leasehold properties, the time taken for completion is quite fast. Definitely within the 3+1 month.
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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

 

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