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 Bumi Lot Freehold, transfer to non bumi

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ecin
post Apr 21 2012, 03:34 PM

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QUOTE(azadsan @ Apr 21 2012, 02:48 PM)
when you guys mentioned there is a minimal penalty/premium to be paid on the conversion, how much is it?
for example a 300k condo in Selangor. how much to convert? thx
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Hi azadsan, you can't convert it like that, it's after signing SPA, your lawyer will handle that for you (Subject to you and/or your agent can convince ("Not con") the purchaser).
If you've time and want to clear all your doubts, you proceed to Land Office directly to check all in one shot is better
chee yat
post Jul 18 2014, 12:09 AM

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I still can't understand after reading through all these.
Currently there was a unit which the agent told me is freehold unit own by Malay.
The agent say this is not bumi lot, is just Malay owner & even when he buy also does not entitle for any bumi discount.
Some more he told me free hold didn't have any bumi lot, is it true?
Basically i'm talking about freehold Condo.
onnying88
post Jul 18 2014, 01:01 AM

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QUOTE(chee yat @ Jul 18 2014, 12:09 AM)
I still can't understand after reading through all these.
Currently there was a unit which the agent told me is freehold unit own by Malay.
The agent say this is not bumi lot, is just Malay owner & even when he buy also does not entitle for any bumi discount.
Some more he told me free hold didn't have any bumi lot, is it true?
Basically i'm talking about freehold Condo.
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Freehold do have bumi lot also. This is for sure.

If a bumi brought a freehold non bumi lot (without bumi discount) then it can be sell back to non bumi.

Best way to do now is try to request the title and check the land status with land office before you proceed any further.
BEANCOUNTER
post Jul 18 2014, 01:15 AM

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I believe its not true that when devekoper finally relase the bumi quote to the public...they can sell at normal price.
As my understandimg they still need to pay the penalty of bumi discount to the local council when sold as non bumi units.

Freehold units...only bumi disc....not bumi lots.
syarehey
post Jul 18 2014, 08:13 AM

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for freehold strata title, I still got bumi discount on my non bumi lot house.
AMINT
post Jul 18 2014, 10:07 AM

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what have been said here were not 100% true. I sold my property (leasehold some more) to a non-bumi. I am a bumi btw. First check the title. if not mention any sekatan, u can try to proceed. after that really depends on authority. happy investing.
chuamhc
post May 2 2015, 05:05 AM

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chuamhc
post May 2 2015, 05:06 AM

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