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Lawyer's Corner v2, One-stop centre for any legal queries
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PowderBug
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Mar 12 2012, 09:08 PM
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New Member
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Hi DarioFoo, If I buy a subsale leasehold property which has only Mastertitle and the property now under a liquidator, is there any name transfer involved for ownership? Or do I have to wait for the strata title to be ready? Lets say if the strata can only be ready only 5 years later, do I have to engage a lawyer to help me with the ownership transfer? By then, will the name be transfered straight to me? Or do I still have to get the current owner to be present for the strata title name transfer, 5 years down the road? For strata title to be ready, who should chase and who to chase? Any words of advise concerning liquidated leasehold properties? Subsale legal process duration wise and costs incured. Hopefully my questions are not super rojak to understand as I myself am very This post has been edited by PowderBug: Mar 12 2012, 09:57 PM
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PowderBug
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Mar 13 2012, 02:52 PM
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New Member
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Then the ownership will now belongs to the liquidator? Does this mean the management fees will go to them?
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PowderBug
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Mar 14 2012, 05:06 PM
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New Member
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QUOTE(dariofoo @ Mar 14 2012, 11:43 AM) I wouldn't say OWNERSHIP BELONGS to them. It's just like the ship has a new captain. The captain doesn't own the ship, but just tries to steer it out of shark-infested (read: creditors) waters. Ultimately the company will reach its final port of destination and be wound up and thereafter cease to exist. Management fees would still have to be paid as usual. It will go into the fund for the upkeep and maintenance of the common property and is out of reach of the creditors, so no worries there. Thanks Dario! Really appreciate your kind help!
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