Hi Dario,

I have 2 questions and appreciate if you could enlighten me.

1) I understand that EPF and insurance policies are excluded from will. What happens if husband names wife as beneficiaries in both EPF and insurance policies but both die together? Since the beneficiary named in the EPF and insurance policies is dead, how is the money distributed then? If there is a will, does it then follow the will?

2) Imagine the scenario where husband names wife and 3 kids as beneficiaries and the surviving member(s) get all the shares BUT what happens if ALL die together? Assume no other persons are named as beneficiaries. What happens to the assets of the deceased(husband)? Does it then get distributed according to Malaysian law? Or the government takes it?

Thanks

hi dariofoo, i want to ask current i got penalty due to over due date from snp. the annual 8% interest is on what price?

Hi Dario,

Just to confirm what you have said. Assume Person A has a house and in his will, the beneficiaries are the wife and 3 kids. However, what if all of them died in a car crash at the same time? Does this mean that since all the beneficiaries mentioned in the will are dead, it is as if Person A has died intestate(eventhough he has a will), and the house would be distributed to the parents, brothers etc after a Admisnistrator has been appointed?

Hi Dario,

First of all, thanks for helping us. I have some questions on transfer out of love and affection. I read in version1 that if transfer between husband and wife, no SPA needed if transferring out of love and affection - can just prepare the DOA / MOT. Also, both parties are exempted from stamp duty on the DOA / MOT. My questions:

1. My father and I jointly bought a property in 2010. SPA and bank loan are under both of our names. Individual title is out and we are still servicing the loan. Now, my father wants to transfer his 50% ownership to my mother. Do the above statements still applicable? What about the names for the bank loan? What about RPGT?

2. MOT for individual title? And DOA for un-issued individual/strata title?

Your reply will be greatly appreciated. Thanks.

Rgds,
Mcray

Thanks Dario. A few more questions:

1. If bank insists on refinancing the house loan, so I will become the sole borrower? Can my father become the guarantor now instead?

2. Will this 50% property ownership transfer (from my father to my mother) be exempted from stamp duty fee?

2. As you mentioned, transfer out of love and affection normally is done when there is no encumbrances upon the property. Besides the refinancing issue, any other issue I should be aware of?

Thanks a lot!

Hi Dario,

Do you have a checklist of documents that a buyer should received from my s&p and loan lawyer after a property transaction completed? The property I bought is a subsale condominium, leasehold with strata title.
Regards,
Keen

Thanks Dario for your speedy reply. Last few questions below:

1. Is there any limit to the number of love & affection transfer that can be done by an individual? Ie. Can my father transfer 2 or more properties to my mother via love & affection transfer?

2. For subsequent love & affection transfers from husband to wife, ALL are also exempted from stamp duty?

3. If my father refuses to the the guarantor or borrower after transferring his 50% portion to my mother, the bank will make me the sole borrower of the newly financed house loan?

Thanks very very much for your advice!

I applied for refinance 2 months ago. No change of property ownership but change of loan bearer(from joint acc to single acc). Today lawyer told me need another two months for getting consent from land office due to my property is leasehold.
I donno is it normal practise to do like this?need advice from all.thanks.

Hi Dario or other Sifus here,
Can I know what are all the incidental charges when doing a subsale purchase. This is what I have gathered below.
Bank Loan costs
1. Valuation fees
2. Loan stamp duty
3. Loan legal fees
4. MRTA

SPA processing
1. S&P fees
2. Lawyers legal fees

Did I miss anything else?

For SPA processing, I believe the rates are quite transparent on S&P fees and lawyers legal fees. However, this are my questions:
1. How is the valuation fees determined? Is there a fixed rate?
2. Is there a fixed rate for loan stamp duty
3. Is the bank loan lawyers fees a must for subsale purchases?
4. If the bank loan lawyer and my SPA lawyer is the same firm, does it complicate matters or make them easier. Also, will I be able to ask for better discount like this ?
5. For a subsale purchase of 500k, how much will all this incidentals come up to excluding MRTA as that depends on the term you choose.

TQVM.

Consent from land office should be easily obtained right? Just have to wait long?

hi there, can you please help me with my problem..its like this, my father is a guarantor for my uncle business loan..Then my uncle fail to pay bek his loan, so he has been declared under bankruptcy...my father then gone into trouble as well as he couldn't pay back the debt and was announced bankrupt also....our house got seized and he's unable to transfer the property, but we were still allowed to stay in our home as the house is still under loan repayment period before this...until today, my father had settled off his housing loan, but during the loan repayment period, he has used up the house as an overdraft...which means that, although he had settled off his initial housing loan, but he hasn't paid back the overdraft amount yet...so under this situation, is there possibilites that our house will be taken for auction eventhough we're just the guarantor, not the borrower???? please help me

Recently I have sign an option to purchase an apartment in Johor Bahru. The apartment was advertised on iproperty.com.my by the estate agent and I have called the agent and subsequently view the place. After negotiating the price with the vendor ( via the agent ; since the agent never reveal the owner's contact particular/name) the offer was accepted. However during the signing of the option letter, which bears the agent's company letter head, the agent ask me to sign another letter, which also bears the estate company letter head. However this letter is actually a letter to give the agent commission of 1%. Since the agent said it comes along with the offer letter and I have to sign it and give 1% commission, so I signed, thinking that that was required and was acknowledged by the estate company since it carried the company's letter head.
However later I realised after reading through the Internet that only the vendor is suppose to pay the agent commission and not the buyer. I felt cheated and conned.  I also got to know that the agent also charges the seller 2% commission.  I would like to clarify with you on this matter. With the given scenario above, is it true that the agent has misconducted and cheated on me?
And if it's true, can I lodge an official complaint to the board of valuer, appraiser and estate agents of malaysia as well as making a police report indicating that the agent has committed fraud and conned on me?

Any legal implication on me since I have already sign the commission document? Although it clearly stated in the rules n regulation of the MIEA that a registered estate agent shall not accept fees from more that one client in any one transaction. And I have no prior knowledge bout this and being conned into signing the document ?

hi guys,

i would just like to ask some opinions from experienced property buyers here.

i recently bought a condo in damansara perdana and the bank loan has gone through. just waiting for the application to LPHS to be completed.

however, the home address stated in my SPA is different from the actual unit. i asked my lawyer about this and he said its because the first owner made a mistake and they issued a letter stating that the property is the same.

has anyone came across such a situation before? and would this cause problems in the future?

pls advise

thanks!

Hi Dario,

thanks so much for your valuable insight...

with regards to your post #490 on http://forum.lowyat.net/topic/1602849/+480

im about to sell my property and figured out i need to pay rm4000 in rpgt and purchaser's lawyer says that they will need to hold 2%(rm2000) for rpgt purposes.. but i'm intending to submit the chkt 1a myself.

Q1: is it the norm for them to hold? even if i'm doing the submission myself?

Q2: if i were to submit chkt 1a myself, do i need to pay at submission and how much? will lhdn require me to pay rm4000 or rm2000?

Q3: side question, are chkt submission fees charged by the law firm considered as an allowable expenditure for rpgt purpose?

thanks in advance,
Dave

Hi, Dario & frens,

1) In some landed g&g development, thier SPA signed under Stata Title Act. Can strata title also apply on single storey landed homes/ bungalow?

2) Can SPA under HDA (both schedule G & H) be change  by  the developer? If it happen, can we challenge the developer & SPA lawyer? Which channel is the best way?

Please advice.

Thanks.
sk

Hi Dario,

I am going to collect the key for my new apartment on Dec. But I will be temporary travel abroad for 6 months start on this OCT. Do I need to inform the developer regarding this matter or what should I do?

Hope to hear from you soon.

Thanks!

Regards,
Felix

Hi Dario and all sifu,

1) Is the ownership transfer (cukai pintu, cukai tanah, TNB, Syabas) done by SPA lawyer or buyer?

2) Is the 50% discount on SPA stamp duty applicable on service apartment which is on the commercial land?

Thanks in advance 

just want to ask, what's the current lawyer fee? let say I'm buying a RM300k house, how much my lawyer fee would be?