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 Lawyer's Corner v2, One-stop centre for any legal queries

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femlab
post Sep 2 2012, 10:03 PM

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Hi Dario n sifu,

I am selling my condo (still under master title). before hari raya break, i went to purchaser lawyer office to sign d snp. i didnt appoint a lawyer myself, just tag along with purchaser lawyer.

After raya holiday break, i got letter from developer saying strata title is out. Now came a problem.

1) I ask around what to do now. So i call both purchaser n developer lawyer, the current situation is, purchaser lawyer have not submit anything yet to developer (i specalute due to long break). purchaser lawyer want to re-do d snp. new snp state i need to obtain strata first if developer not agree to do direct transfer to new purchaser. is this fair?

2) purchaser lawyer made a letter for me to sign stating that i choose not to have a lawyer of my own and i cannot sue or report them to authority/tribunal if anything go wrong.

3) bank will realise loan amount in purchacer favour? is this right? but due to (2) i cannot sue them if they runaway with money?

4) Is it too late for me get a lawyer of my own now? or not worth it since im in midle of process? is the process sound normal?

This post has been edited by femlab: Sep 2 2012, 10:06 PM
femlab
post Sep 3 2012, 02:23 PM

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QUOTE(dariofoo @ Sep 3 2012, 12:23 PM)
1. Yes, the SPA needs to be amended to reflect a situation where the strata title is out and therefore, the duty would be upon the vendor to obtain clean title in his favour before time can start to run in the transaction. Otherwise, the purchaser's interest is not protected.

2. You can sign a letter or have it provided in the SPA that it is your choice not to appoint a lawyer of your own BUT DO NOT sign anything which absolves the purc's lawyer from any liability for negligence, etc. You would be digging your own grave if so.

3. It will be released in favour of the purc's lawyer as stakeholder.

4. You can still appoint your own lawyer. The purchaser would not be prejudiced in the event of a delay as time would not have started to run for the SPA anyway. I doubt if the purchaser would take issue with that. Since a new SPA would still need to be drafted, you can opt to appoint your own lawyer to assist in drafting it.
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Thanks for advices rclxms.gif

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