If you get a good real estate agent, good lawyer and good mortgage consultant, there should not be anything to worry about.

There is no such thing as extra risk when buying subsale. Risk is there in all property purchases. It is just a matter of how the above parties act in your best interests to mitigate/reduce the risk involved.

Here:

http://www.lppeh.gov.my/searchregistrant.p...l&search=Search

Did you browse throught the website to get more info or did you just do the search?

This website may shed more light on this:

http://miea.com.my/site/index.php?cat=64

If he uses the agency's standard booking form and payment is made to the agency as stakeholder, there should not be a problem. More so if he is a registered negotiator. Just make sure no payment is made personally in his name. Browse the net for more info to assure yourself.

a - no RPGT as date of acquisition is in 2005. Refinance does not matter.

b - yes it would.

You can sell A first but exercise the exemption on B as the exemption does not factor in whether the unit you are selling is your first or second sale. It is a one-time exception which can be applied at any time for any property within the RPGT time frame when you want to sell it.

So, your statement that "I will be taxed if I sell my second house" is not accurate.

Cheers.

Which State?

What does your SPA lawyer have to say about this? Have you spoken to the developer about it? What is their response? Sorry to reply your question with more questions but I would need more info before advising you further.

This post has been edited by dariofoo: Dec 11 2012, 12:03 PM

A transfer is always by way of sale & purchase agreement (SPA), if there is money (or some other form of consideration) changing hands.

An SPA is not proof of ownership. It must be supplemented by an MOT (if property is with title) or deed of assignment (if without).

Exception: If there is no consideration, then it can be via a deed of gift or just a transfer via MOT with love and affection as the consideration. There is no need to draft a SPA for such cases.


Assignment in the Malaysian context refers to a deed of assignment (DOA), which only comes into the picture when the property in question does not have an individual title, eg a condo under a master title and the developer has not applied for strata (indiv) title yet. So, when the first purchaser (A) wants to sell it to another party (B), there would be a SPA plus DOA to evidence an assignment of rights from A to B, and so on and so forth. The trail of DOAs must be kept as evidence of continuity of assignment.

Once the strata title is out, then the assignment is no longer relevant, as in Malaysia, registration is everything.

All queries will be answered tmr. Cheers

The lawyer acts for the bank even though you bear the legal fees. Weird, but that is the way the process is in the system.

Was there any penalty by the developer? If no penalty, then all is ok.

Speak to your loan lawyer and also the mortgage consultant about it to arrange for the excess to be paid to you.

What is stated in your tenancy agreement? Is there a clause to deal with such matters.

What was the reading when the pipe was fixed? Would that not be the most accurate reading in order for you to determine the cut off mark? Worst case scenario - calculate the monthly average and deduct accordingly. At the very least, they must pay for actual usage. They can't refuse to pay for water at all!

1. What is stated in the booking form between the parties? It should contain a clause in relation to the agent's fees.

2. Yes, if it is stated so in the title.

3. Consent from FIC. How long? Depends on the efficiency of the parties - usually 1-3 months.

Grant of Probate is a document which empowers the executor to deal with the estate of a person who died leaving a will.

Dealing with the estate would mean dealing with the properties, monies, belongings and also to cover debts, liabilities as provided for in the will.

I do not understand how in your case, the lawyer purportedly transferred all the properties without the Grant of Probate being first obtained from the Court? That should've been the first thing done.

Kindly download and read the SRO at the first page of this thread.

Boss, was there a will or not?

If got will - Grant of Probate. No will - letters of admin (LA).

Both require going to Court to obtain an order. Both require a lawyer to be appointed to prepare it.

LA is more complicated than probate as all the beneficiaries need to repudiate their claim to be the administrator (same function as an executor explained earlier). The administrator will administer the estate accordingly once the order has been given.

Go back to the lawyer again and ask what was done. Did you pay fees? What did you pay for?

Never encountered such a situation before. Well, you have to refund the purchaser in full first, and then settle between you and the agent. See what can be worked out. In the absence of anything in writing, it's hard to advice.

What was the reason for the SPA to be aborted?

Are you in Semenanjung or Sabah/Sarawak? Because there is no such concept of "grant of letter of administration with will annexed" in S'jung.

If got will - GoP. If no will - LA.

How can LA with will annexed?

Anyway, my suggestion is to get this copy of the LA from the lawyer since 10k has been paid to obtain it. If nothing is done - complain!

This question has been posed and answered not too long ago in this thread. Look it up.

Sorry for missing that out. Yes you are right but I am not aware that it was effective 1 Jan 2012. As far as sale by way of assignment, consent is not required.

Risk is always there. In every case where the lawyer holds stakeholder monies the risk is there for the lawyer to abscond. How do you tell whether it is going to happen or not? Your guess is as good as mine.

If, as you said, "vendor has experience with S&P and is quite confident of vetting the draft before finalization" then you mitigate the risk , as all the clauses would be fairly balanced in the SPA.