QUOTE(A_K @ Oct 12 2012, 09:24 AM)
If the mortgage consultant does not want to get it for you, ask his manager, then his manager, and so forth up the ladder. Lawyer's Corner v2, One-stop centre for any legal queries
Lawyer's Corner v2, One-stop centre for any legal queries
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Oct 12 2012, 11:40 AM
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#881
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
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Oct 12 2012, 12:05 PM
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#882
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(baharinsav62 @ Oct 12 2012, 11:54 AM) Thanks so much for your advice, appreciate it very much. Did your SPA lawyer do a title search before signing the SPA? If so, this encumbrance would be stated in the search and the lawyer ought to have obtained that letter of disclaimer from the end-financier on your behalf. The lawyer only just adviced me yesterday (through the letter I received from them). They should have advised me earlier, during signing the SPA perhaps but when I looked at the SPA there is no mention of the land being encumbered to a 3rd party (normally, this would be mentioned in the SPA, right?). Is there a possibility that the developer took a loan from the chargee bank AFTER the SPA was signed (with the land as collateral) and now only the bank wants to claim the redemption. Anyway, I called the lawyer and they told me to settle whatever future progress billings direct to them , which they will forward to the chargee bank and c.c. the developer. I also called the developer and they informed me that I could pay the progress billings via 2 alternatives i.e. to the lawyer, like above or direct to them and they will settle the redemption with the chargee bank. I will probably follow the lawyer's advice to settle the progress billings direct to them to be transmitted to the chargee bank. Thank you again and wish you well for the future. Unless of course like you said - the loan was procured after the SPA , but that is highly unlikely. End-financing is always prior to SPA. After SPA and when funds start to roll in, it is redundant to obtain end-financing. My opinion, of course. Anyway, just get a letter from the end-financier that whatever you have paid to the developer has been received by them or a letter by the developer to that effect. Secure your position with regard to payment made. |
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Oct 12 2012, 12:08 PM
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#883
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(gracelim2202 @ Oct 12 2012, 11:41 AM) Dear Dario, 1. Of course it can go through. The lawyer cannot charge you for something which he does not do any work for!Thanks for your reply. 1. In case if I refuse to pay all the above, will the deal still go through? 2. Will the lawyer act inappropriately, for example changing certain conditions in the S&P which will not favor me, as the seller? 3. What if I choose another lawyer at this juncture? (though this option is a bit tough since there is basically no charges can be applied on) What are my options now? 2. How can he change it if it has been signed, initialled on every page and if you have a copy of it? Just be extra vigilant, that's all. 3. SPA signed? If so, then there is little point to bring in a lawyer at such a late stage, bearing in mind also that there is no redemption involved and that you are doing the CKHT yourself. Just be extra careful and vigilant. If you are smart, the lawyer would not dare to mess around with you. |
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Oct 12 2012, 04:41 PM
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#884
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(tonytyk @ Oct 12 2012, 01:40 PM) Dear Dario You got that from an ACCA write up, right? Thanks for the reply. Do we consider SPA for lease hold property a conditional contract? Would you to clarify considering the following extract on Conditional contract: The significance of a conditional contract is that the disposal and acquisition date of the chargeable asset concerned depends on the date the condition or the last of the conditions is/are fulfilled. A contract is conditional for purposes of RPGT if the contract requires the approval of the government or a state government, or an authority or committee appointed by the government or a state government. The date such approval is given would constitute the date of disposal. Thanks Let's take a look at the RPGT Act 1976. The definition of dispose: “dispose” means, subject to subsection (4), sell, convey, transfer, assign, settle or alienate whether by agreement or by force of law. Looking at a strict interpretation , it would mean that disposal is by way of an agreement. As such, I would argue that date of disposal is the date of the agreement. Yes, there is no doubt that in a transaction of a leasehold property where consent is required, it is a conditional contract. However, I am not of the opinion that date of disposal should be extended to date of consent. I have two reasons for the said view: 1. Every agreement is conditional up to the very end, i.e. success of registration of the Memorandum of Transfer or perfection of the Deed of Assignment. If the MOT cannot be registered or the DOA cannot be perfected, then the entire agreement is terminated and parties are restored to their original position. Assuming that the argument for the date of disposal ought to be the date consent is given, one might as well go on and say that it is further conditional upon successful registration of the MOT or perfection of the DOA. After all, if consent is given, and yet at the end, transfer/assignment cannot be done - would the transaction still fail and the agreement terminated? 2. For purposes of RPGT, 2% is payable to the Director General of the IRD within 30 days from the date of disposal (date of SPA) being advance remittance of RPGT payable - if disposal is less than 5 years and if no exemption has been applied for. However, LHDN does not define date of disposal as date consent is given. It looks at date of disposal as date of SPA, i.e. 30 days from date of SPA. Couple this with the fact that for leasehold properties which require consent, there is a very very very little chance for consent to be given within 30 days from the date of the SPA. However, the 2% must still be paid. As such, LHDN is indifferent as to whether consent is ultimately allowed or otherwise. The 2% must still be remitted. From my personal experience, date of disposal has always been date of SPA. For 100% confirmation, you can call LHDN customer service and enquire therein. |
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Oct 12 2012, 04:45 PM
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#885
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(mcrayfc @ Oct 12 2012, 03:45 PM) Thanks Dario for your quick reply. Police might knock on the door once and give a polite reminder but I doubt if it will work. Legal LOD seems like the last resort and there is a legal cause of action for nuisance. There would be merits in this case to even get an injunction. However, one has to bear in mind the legal costs involved. Is it worth the hassle and who is going to bear the costs?I am thinking of more aggressive ways. We have tried diplomatic ways already. Calling police will help? Can I engage lawyer to sue them for making noise every night for the past few months? JMB hasnt been set up yet as it is a new condo development. Thanks, Mcray |
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Oct 12 2012, 04:46 PM
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#886
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(regnig @ Oct 12 2012, 04:03 PM) Is there any channel e.g. land office dept where I can expedite the process for obtaining the consent? 2-3 months is quite average. If you want faster there are some folks who claim to know people inside who can 'expedite' things but such things are illegal (as it is akin to corruption) and there is no guarantee of success. I was having the same case and lawyer told me to wait for 2-3 months to get the consent |
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Oct 14 2012, 12:18 AM
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#887
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(mcrayfc @ Oct 12 2012, 05:34 PM) I think must at least ask the police to show up once to show our seriousness. How much does it cost for legal LOD, just an approximate range of fee? as well as injunction and other legal costs? For litigation, fees are subjective. Best to approach a lawyer and get a quote.I won't mind paying the cost to help my current tenants or future tenants as the unit above who are making all the nuisance are owner-occupier. |
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Oct 14 2012, 12:18 AM
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#888
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
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Oct 14 2012, 12:21 AM
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#889
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(nyzx @ Oct 13 2012, 11:49 PM) I would like to ask for the 50% of stamp duty rebate. I have purchase a house from developer around rm470K on AUg 2011. SNP is free since it pay by developer. I've answered your earlier post on the same question.1. Did i entitle to get any stamp duty rebate for MOT as my purchase price is more than 400K. 2. Did i entitle to get any stamp duty rebate for loan agreement? Added on October 14, 2012, 5:10 pmBack online. Accidently closed it yst. Thanks to cherroy for reopening d thread This post has been edited by dariofoo: Oct 14 2012, 05:10 PM |
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Oct 15 2012, 11:53 AM
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#890
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(hc2012 @ Oct 14 2012, 07:43 PM) 1) I have heard from friends that there is case like this whereby the seller refused to move out and owner first go to see owner together with police. 2nd time will go to change the lock, then 3rd time enter the premise and throw all things out. But after reading your posts, I doubt that we can do that, right? You can't do that. It is illegal. Vacant possession has not even been handed to you yet. How can you go in and throw away his things?QUOTE(hc2012 @ Oct 14 2012, 07:43 PM) 2) In your post #1273, Let me elaborate. Once title has been transferred in your favour, you are already the legal registered owner. The final step would be when you collect the keys - also known as surrender of vacant possession. The vendor does not have the right to cancel the transaction at this point. Q: May i know as well at what point above, I can confrim the house ownership have been successfully transfer from the seller to me? A: At the stage where the title has been transferred to your name and where you have collected the keys. Does that mean at this moment, though the title is already under our names, we are still not the legal owner? Does the seller has the right to cancel the deal at this point? QUOTE(hc2012 @ Oct 14 2012, 07:43 PM) 3) We have given him time and would prefer not to proceed with legal action. But what if we are to proceed with legal action, how long would the process take? Is it the lawyer's obligation to make sure the seller handover the VP to us and no additional legal cost incur if we choose to proceed with legal action? 3. How long it would take would depend on the efficiency of the Courts, your lawyer and also whether the vendor contests it or otherwise. It is not your SPA lawyer's duty to ensure that keys are handed to you. His duty would be to send over a letter to the vendor informing him of the particular clause in relation to surrender of VP in your SPA and demand that he complies with it. If you want to take legal action to enforce the clause then you would need to instruct him accordingly (with a separate set of fees) or appoint another lawyer, if this one does not do litigation.4) Is the verbal conversation/follow up made by lawyer with the seller valid in court? 5) Normally both parties will initial on every page and sign full signature at the signing page. What if the seller didn't initial at every page but only signed the signing page, is the S&P still valid? I believe so, else the bank would not have disbursed all the sum. ?? 6) What is your advice for us on what to do next? Many thanks to you in advance. 4. How to prove? The other party would deny whatever is adverse to him. 5. Failure to initial every page does not nullify the agreement. 6. Send in a legal letter of demand. Also demand for late penalty interest. Balance purchase price disbursed according to SPA, right? |
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Oct 15 2012, 11:54 AM
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#891
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(me_1980s @ Oct 15 2012, 09:25 AM) One may look into para 15 of Schedule 2 of the Real Property Gains Tax, wherein it states:- (1) Except where this Schedule provides otherwise, a disposal of an asset shall be deemed to take place— (a) where there is a written agreement for the disposal of the asset, on the date of such agreement; or (b) where there is no written agreement, on the date of completion of the disposal of the asset. However, there is a conditional also, wherein para 16 of the same Schedule:- 16. Where— (a) a contract for the disposal of an asset is conditional; and (b) the condition is satisfied (by the exercise of a right under an option or otherwise), the acquisition and disposal of the asset shall be regarded as taking place at the time the contract was made, unless the amount of the consideration depends wholly or mainly on the value of the asset at the time when the condition is satisfied in which case the acquisition and disposal shall be regarded as taking place when the condition is satisfied. The para 16 has been amended from:- 16. Where a contract for the disposal of an asset is conditional and the condition is satisfied (by the exercise of a right under an option or otherwise), the acquisition and disposal of the asset shall be regarded as taking place at the time the contract was made, unless- a )the acquisition or disposal requires the approval by the Government or an authority or committee appointed by the Government, the date of disposal shall be the date of such approval; or b )the approval referred to in subparagraph (a) is conditional, the date of disposal shall be the date when the last of all such conditions is satisfied. Hopefully it helps u. As the law now stands, it is on the date of the agreement. |
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Oct 15 2012, 01:42 PM
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#892
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(hc2012 @ Oct 15 2012, 12:35 PM) The lawyer said all the delay are due to the vendor side, so no penalty on me. The lawyer is holding the balance purchase price. Only pending the release of key from seller. They never experience such cases before, so myself is like stuck here, dunno what to do. I meant penalty to be paid by the vendor to you. Are you sure what the lawyer is done is correct according to the SPA? Normally the monies will be paid to the vendor and within xx days, the vendor must hand over the keys to you, failing which the vendor has to pay late penalty interest to you.Sending legal letter of demand... to be sent by my SPA lawyer or litigation lawyer? Does it mean we are entering into SP by doing so? Thanks. Anyway, check what is provided for in your SPA. QUOTE(hc2012 @ Oct 15 2012, 12:35 PM) Sending legal letter of demand... to be sent by my SPA lawyer or litigation lawyer? Does it mean we are entering into SP by doing so? Any lawyer would do. Yes, the next step is to compel the vendor to hand over VP via an application for SP. Of course, late penalty interest would continue on daily rest until he does so.Thanks. |
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Oct 15 2012, 04:34 PM
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#893
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(Ms Sim @ Oct 15 2012, 04:09 PM) hi dario, im in the process of selling my house. the lawyer firm recommended me to sign the appointment letter, in which i will appoint them acting on my behalf only they will send me the breakdown of the invoice for the legal fees + snp. My selling price for my house is 380K, it charge me 3.6k for the legal fees. according to the legal calculator, it only cost about 3.11k. Hence, i would like to ask is it necessary that i need to sign the appointment letter 1st? Of course you would need a proper invoice with the breakdown before you appoint them. Insist on it. If they still refuse, then it is unethical of them and you should appoint another law firm. |
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Oct 16 2012, 10:02 AM
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#894
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(shearmagic @ Oct 15 2012, 11:33 PM) hi dario, 90 normal days.i am the seller of a condo (still under master title), and would like to ask if the balance payment of the purchase price should be paid within 90 days or 90 working days? here are the wordings in the SPA: In the "Interpretation" section of the SPA, it is stated: The interpretation clause which you have stated defines where the term 'working days' appears, and not 'days'. |
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Oct 16 2012, 10:02 AM
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#895
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(Ms Sim @ Oct 15 2012, 04:47 PM) as the buyer's loan already approved, it only waiting from my side to confirm on the snp thingy. according to the lawyer, the due date will be on 22Oct2012. is it enough time to draft all the snp thingy? thanks You should ask that to your lawyer, as he is the one who is preparing it . |
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Oct 17 2012, 06:31 PM
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#896
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(caterpiez @ Oct 16 2012, 01:34 PM) Hi, When you returned the keys to him, did you get him to sign an acknowledgement? If yes, then you can prove that you surrendered VP back to him after xxx days, so you can claim back the pro-rated rental paid. If diplomacy fails, then you have to appoint a lawyer to send out a letter of demand. If that fails, then you can go to Court and file a Small Claims Suit against the landlord and get it heard before a Magistrate.Not sure whether this problem suitable to post here or not.This is scenario between me (tenant) and the owner:- 30/9: I moved in at night.My parent tag along to help me move in. My mom complain to owner why this house look like partial furnish even though agreed at the beginning full furnish. The owner very frusted n going home without we signed the agreement. He said he need to add something n will be back 1/10: At night, owner call me and give move out notice in 2 months. so all my deposit will be used to pay for 2 months rent. My mom angry and asked me to asked permission to move out early. The owner reply "ikut suka you la". 5/10: I moved out from the house and return the key back. I left the place exactly same as I move in. I even used picture taken before as reference. The rate of my staying will be based on homestay rate as requested by owner. RM200/night, you know 10/10: Owner coming in checked the house condition.Still no news regarding the balance. 15/10: Owner asked me to sign a memo whereby I agreed to receive RM1600 only (Rm1300 deposit + RM300 utility) where I'd paid to him (RM1300+Rm1300+Rm300). He said to me suddenly he changed his mind and want to deduct whole month rental.Of course I'm very angry Right now, I'm asking the owner to prepare the billing why he want to charge me RM1300? Is there anything else I can do to solve my problem so I can get my money back RM2500 as we agreed first time. Thanks for reading my problem |
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Oct 17 2012, 06:38 PM
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#897
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(Ms Sim @ Oct 16 2012, 10:35 PM) I would like to ask, do i need to pay all the CKHT 1A, Form 16N, State Authority’s Consent to Transfer and Statutory Yes. Unless you want to file in your CKHT yourself.Declaration legal fees as well? QUOTE(Ms Sim @ Oct 16 2012, 10:35 PM) Please refer to the various samples in v1 of this thread. Link is at page 1.First time ever I saw a lawyer bill for 'email charges' |
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Oct 18 2012, 09:41 AM
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#898
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
Yesterday was the 2nd birthday of Lawyer's Corner. V1 kicked off on 17 Oct 2010.
Let's have some cake |
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Oct 22 2012, 12:35 PM
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#899
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
QUOTE(beauwlf @ Oct 19 2012, 01:32 PM) Good Day, Whether you really need a lawyer or not - the pros and cons are stated in a discussion at the early pages of this thread. Feel free to browse.i am letting go of a property at RM132k, the purchaser's lawyer already emailed me the s&p draft. They seem to indicate that i need to get my a lawyer. As a vendor do i really need a lawyer ? If i do how much will be the total fee that i need to pay ? Thank you, Legal fees according to scale as per the SRO at the first page. Or you can use the calculator. Add in around RM300-RM400 for disbursements. |
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Oct 22 2012, 12:35 PM
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#900
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Elite
2,795 posts Joined: Aug 2010 From: District 9 |
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