Jan 6 2012, 08:36 AM
QUOTE(Deja Vu @ Jan 6 2012, 08:24 AM)
Another cheaper option is tru Amanah Raya (Gov body). U'll b asked to prepare some documents and will take a couple of years to hv it settled. Once tats settled, d car has to be transferred ownership to a direct family member b4 it can b sold, if i remember correctly.
In d meantime, s'one will hv to service tat loan, unless u plan to let d bank confiscate d car.
Speaking from my own experience, it took us 10yrs to get LA thru Amanah Raya. Although it is hassle free, it takes really long time, unless you constantly push them. But by doing so, their reply would be 'kita tak boleh buat apa-apa, kena tunggu surat perintah' In d meantime, s'one will hv to service tat loan, unless u plan to let d bank confiscate d car.
Upon my uncle's passing, my aunt and cousins had to wait a good 10 yrs to obtain only the LA when they thought the name would be transferred.For them , it was still okay because it was properties but in case of vehicle, the value depreciates and by the time you get things sorted out, there wouldn't be much to gain from the sale.
just my 2 cents..
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