abu plans to charge his property to assilah to secure a short term loan.
both of them agree not to register the charge in order to avoid extra cost eventho form 16A and the annexure of the charge have been executed by both of them.

by law is it wrong?and under which section can u consider it wrong?and can u pinpoint me where is it wrong?tq so much if u can help me

It's not wrong by law, it's just ridiculous for assilah not to insist on the charge to be created as she will not have any security over the property, in the event abu does not want to pay, and then transfers it to another party to defeat her interest. Unless assilah is not really interested in the property and she is confident that she can sue abu in his personal capacity and make him pay via other means?

Registration of Form 16A does not cost more than RM100 and stamping is a mere RM10.

Tell assilah to think twice. Unless she has an ace tucked up her sleeve.

Individual title? Master title? strata title?
What are all these?

For residential house, is it called Individual title?
For shoplots, it's master or strata title?
and for condos, it's strata title?

Dear all,

I have a house under my name, now i want to give to my wife, may i know which is the cheapest way to do this?

by Will...

hi,

need some help perusing the lawyer's fees pls? atched

Also actually, had a damn hard time with this lawyer just to complete a simple S&P transaction. Took 10 months just to get consent from land office. Had many delays and the owner had to go do things himself several times.

I plan to protest and not pay the full lawyer fees as definitely got a very bad service. But need to know from which expense item i can ask for discount/reduction?

Thanks.

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Added on December 28, 2011, 11:16 amprop price is 320k

This post has been edited by zigot14: Dec 28 2011, 11:16 AM


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For landed properties, it is called individual title. The actual term is Issue Document of Title (IDT). That is the original title which is given to the owner (and most often is kept by the bank as security for a loan given out)

It's individual title.


Condos, apartments and even gated and guarded community schemes are strata title.

Master title refers to the title of a lot of land (or several lots of land) where a condo/apartment project is to be built and where strata title will be issued subsequently upon completion of the project. So basically the master title would be subdivided into strata titles - which are individual titles for such projects.

Is the property still encumbered to the bank? Or is title clean?

Please compare with the samples in v1 of the thread. There's plenty there. Please bear with that until I prepare the sample Note of Charges and put it up at page 1 of this thread as I had stated I would. Been busy as I celebrate Christmas.

Disbursements can be reduced. However, requests for reduction is often done at the beginning of the transaction, not at the end.

hi... i cant change the name of the condo strata title under my name due to there was a caveat lodge with it and it has been lost cos the developer had been bankrupt and they need to do a land search to know the owner of caveat and withdraw it...then only the strata title can be changed under my name......but before that the lawyer already mentioned that it cant be searched.... so when the time he presented to the land office...it get rejected......is it possible that the name of the owner of caveat cant be searched?? if let say it able to search...but the lawyer said he doesn't know who is the person and cant be proceed....is there any other solution.......appreciate for your advice on this...thanks...

This post has been edited by trust86: Dec 29 2011, 07:32 PM

I do not have a question but I am really learning a lot in this post and how I wish this thread was started way back 4 years ago when I first started investing. I am super impressed! Dario should have a Pusat Khidmat Lowyat Dario!

Hi, can any lawyer advise whether the developer S&P lawyer can do this?
The scenario is like this:-
I bought a condo with S&P free using developer lawyer. S&P and loan agreement signed and stamped already. Today, S&P lawyer call and said the developer want to amend something on 1 page of the S&P and the effect to me is minimum. (I haven't received what is the changes). The lawyer will send 4 copies of A4 papers to replace that page to me and ask me to initial of all 4 pages of A4 paper and sent remaining 3 pages to her. My question is, is this common practice in Malaysia? Is the S&P still legally valid? IF I refuse to the changes, what can I do? (The developer is a listed company)

This post has been edited by Airoha: Dec 29 2011, 11:43 PM

Dear Dario,

I just moved into a new Condo that i bought from the developer. And within the first week, my bathroom was flooded with human waste. The management was on Christmas holidays, and i had to tahan the smell and unhygienic bathroom for two days before they fixed it. They blamed it on the contractors from the renovations. I feel so disgucted that i haven't been using the bathroom and even the attached bedroom. May i know can i ask for compensation?

the house is clean title under my name, now i wish to put only my wife name, which way is cheapest way to do this?

Is it a private caveat?

If it is a private caveat, it can be removed via an application to the land office by the land owner, whom in this case would be the Official Liquidator or a private firm acting as liquidator. However, in reality, they would be hesitant to do so as it would incur more costs for them. The liquidator's job is to sell of the assets and deal with the liabilities of the company in liquidation with the lowest costs spent possible.

The other alternative is for your lawyer to write to the caveator directly and seek his consideration to remove the caveat, as the developer is in liquidation anyway.

Yes, the particulars of the caveator would be in the title search. Name and address. Some title searches (weirdly) would only disclose the name and ic number (or company name and regis number), so you'll need to go one step further and conduct an IC/Company search to get the address.

All the best.

Cheers for taking the time to do so. Knowledge is power.

If you're free you can start with v1 of this thread as well.

Haha. I think this is the place

PS: Checked out your website. Your portfolio is pretty impressive. 


This post has been edited by dariofoo: Dec 30 2011, 01:32 PM

Yes, parties can amend the SPA. But do check what it is. Probably a typo? Error? At least they should inform you what it is.

Amendments are practised but am not sure if it is COMMON. Can't back it up with any database or somesort. SPA would still be valid,no prob.

If you refuse? What if the amendment goes to the root of the contract and affects the performance of the contract? Then would it not end up being detrimental to you?

The developer fixed it at their own cost right? Then you have not suffered any direct pecuniary losses.

Other losses - Trauma? Toilet-Phobia (google it up, there is such a thing) ? Anguish? Depression?

If you want to prove mental suffering, anguish, trauma, etc, you need to get a psychiatric report to confirm that your mental condition is a direct consequence of the crappy (no pun intended) service by the developer.

That itself would not be easy.

Then it goes to assessment of damages (compensation) - how much can you get for such mental suffering, anguish, trauma, etc, ? How to assess? How long is the impact? Curable? Permanent?

Do bear in mind that you need to bear the costs of the medical reports, etc first, without any guarantee of success. So do bear the pros and cons before pursuing the matter further.

Excellent. Do a clean transfer with "love and affection from husband to wife" as consideration via a memorandum of transfer (MOT).

100% exemption upon stamp duty on the MOT and perhaps just few hundred in disbursements.

Legal fees would be a reasonable figure not more than the scaled fees according to the market value of the property at the time of transfer. In other words, it's negotiable.

The work is minimal anyway, as there is no SPA involved. Don't be tricked into paying more for preparation of Deed of Gift, etc. That is not needed based on the facts of your case, i.e. from husband to wife.

All in all, can be completed within 3-4 weeks at the soonest.

DarioFoo,

Just wanna wish you Happy New Year and may you have a thunderous dragon year!!!

Cheers as always!!!