Sorry, never heard of such arrangement before.

me also.was surprised when my fren told me. i'll ask more details from him. he said, nowadays alot people do like dat.

Hi, I have a question regarding transferring property ownership from mother to child. Is it possible to get it done in the Pejabat Tanah? If its possible, how long does it usually takes?

My apologies if its the wrong forum to ask the above question..

Dear all,

I would like to seek for some advices regarding my housing loan.

The loan was approved in 2004 when the house was under construction. The VP was in 2006 but the individual title and thus MoT was not available at that time. Therefore there's still 2.5% of the loan not withdraw yet by the developer. I have written to the bank for early commencement of the instalment and this was approved, thus I have started to make the instalment from early 2007.

But till today the individual title is not ready yet. According to the loan agreement, the lock-in period of 5 years is calculated from the full drawdown. Therefore I guess that if I would to refinance the loan now, I will still have to pay the early settlement penalty right? Current interest rate is at BLR-0.15%

From your experience, would it be possible to get the bank to waive the penalty cause I have been paying the prepayment for more than 5 years?

Also does it means that as long as I don't have the individual title yet, I cannot settle the loan without paying the early settlement penalty?

Thanks a lot.


This post has been edited by atah: Oct 31 2012, 10:08 PM

thankyou very much....

Hi Dario,

I have some question regarding the subsale leasehold apartment at JB.

Let say the title had been issued to the developer but vendor did not apply for transfer. I heard from my banker there are 2 options available:

1. Developer transfer to vendor then transfer to me.
2. Developer direct transfer to me.

May i know for both case, how long will it take for the whole transaction to complete after signing SnP? Thanks!

Hi Dario,
Wanted to ask 6months ago brought a condo settle everthing. But last months receive a tm bill cost around rm3k+ outstanding is the previous owner name . Try to call the previous owner but he dint pick up my call. May i know do i need to pay?? cause the bill is not my name but the address is correct where im staying. thanks

It's not as straightforward as just filling up a form and submit it at the Land Office. You would need to prepare a MOT, send it for adjudication, pay stamp duty and get it stamped, and then present it for registration at the land office. And CKHT forms have to be filled up and submitted as well. I would advise you to appoint a lawyer.

To quote what you said, "According to the loan agreement, the lock-in period of 5 years is calculated from the full drawdown".

Can you reproduce the page which stipulates that clause here for me to take a look? From what I understand, it is from the date of the Agreement or the date of first release.

If it follows full drawdown, then there would be no end to the lock-in for properties without individual/strata title.

It's not options open to you, but it depends on the discretion of the developer. Obviously no.2 is better and faster than no.1, and is preferred. But some developers go by the book and strictly insist on no.1. As to how long, it really depends on how efficient and co-operative the parties are.

Roughly speaking, no.1 may take around 3-6 months (or even longer) , while no.2 may take up to 3 months.

This TM bill is in relation to what? His personal handphone? Your current house phone? If it has nothing to do with your house, then there's nothing to worry, and of course, you do not need to pay.

If you do not want to receive his mail any further, you would need to communicate with TM and inform them that the person is no longer residing in that address.

The tm bill is the previous owner streamyx bill when he still stay at this house. Just worry the that will be problem when plan to apply new line for the current house. thanks

so, either one, can we proceed with the loan, and move in to the house? it's just the formality to transfer the title or any other implications?

Hi Dario, thanks for your reply, for option no.2, does it means that I can get my property at around 3 months time.
If there is any delay in title transfer (longer than 3 months), will I need to bare the penalty?

3 months is just a rough estimate, please. Do not quote me on it as I had informed you - it really depends on a lot of factors.

There is no penalty as time for your SPA would only start to run from the date your lawyer receives the duly executed MOT by the developer.

usually how long it takes for the bank to release the balance sum after the lawyer advised?

Hi Dario, thanks for your feedback.

If all is in order - average would be 3-5 working days. For super urgent cases some banks can even issue it within 24 hours.

thankss

Hi Dario,

Thanks for the response.

Snapshot of the page as attached below. If it's true then do you think the bank will waive this if I go and negotiate with them?




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