Risk of Bumi Quota, Non Bumi Lot
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 Jul 16 2015, 03:01 PM, updated 11y ago
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#1
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Senior Member
1,457 posts Joined: Jul 2009  
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Hi sifu, for some reason i decided to buy a leasehold townhouse from a bumi owner (i am non bumi). Developer confirm the unit is not a bumi lot/ bumi reserve unit. So basically this unit will fall under bumi quota. Since the property still under master title, my lawyer told me that I can buy the house. The risk I will face is difficulty in transferring name during starta title is out. Another problem is difficulty selling my unit to another non bumi unless I successfully get my starta title...
1) Can I know other risk other than the above? 2) Is the previous bumi owner able to claim my property? Sorry for bad english. Thanks sifu  1) Leasehold 2) Master Title 3) Non Bumi Lot / Non Bumi Reserve 4) Bumi Quota 5) Current owner bumi, I am non bumi 6) For own stay at least 5 years and above 7) Townhouse at Selangor This post has been edited by t3n: Jul 16 2015, 11:13 PM |
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Jul 16 2015, 10:52 PM
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#2
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(max_cavalera @ Jul 16 2015, 10:06 PM) Leasehold master title.... Mind tell me the reason?Better skip Unless freehold master or strata title is still okay  |
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Jul 16 2015, 11:06 PM
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#3
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(max_cavalera @ Jul 16 2015, 10:55 PM) Ive encountered same situation and even my father in law as well..... I thought bumi lot cant transfer but bumi quota still have chances to transfer?If its leasehold strata some how its much more difficult to convert from bumi quota/lot to non bumi compared to freehold strata... Even some re agent also said the same thing... |
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Jul 16 2015, 11:06 PM
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#4
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 10:58 PM) what if non bumi and leasehold master title? skip also? This is what my situation now... |
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Jul 16 2015, 11:12 PM
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#5
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 11:10 PM) then whats the problem... shldnt be a problem what.. now most of the houses in selangor, NS, are doing 50% bumi quotas... some are 30% bumi quotas... That's why I need some sifu here enlighten me what is wrong with non bumi lot + leasehold + master title... Most of the ppl just say skip but never mention reason haha...as long as your house are not bumi lot, then i see nothing wrong... |
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Jul 16 2015, 11:15 PM
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#6
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(linkor @ Jul 16 2015, 03:21 PM) leasehold master title -- better not. Mind tell me the reason?If freehold and got individual title, go ahead. I would advice - SKIP |
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Jul 16 2015, 11:21 PM
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#7
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 11:17 PM) the only problem i see here is, if its leasehold master, and if its already more than 10 years master, then bank are not very interested on such property nia.. so meaning are a little difficult to get loan for such property... Thanks bro, at least read 1 positive post from someone.. My S&P include "if bank doesnt disbursed loan, owner have to pay back my 10%"...for me its fine... if u really like it... and for own stay... |
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Jul 16 2015, 11:27 PM
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#8
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 11:22 PM) wah, u sign spa first before knowing ur loan approve or not ah? then who going to pay for ur spa if loan rejected? For my case Loan approved + signed offer letter from bank already.. My lawyer said, sometimes bank doesnt want to disbursed your loan (for bumi lot case) even though ur loan already approved before this.. |
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Jul 16 2015, 11:32 PM
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#9
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 11:30 PM) i see, if offer letter already signed, then shldnt be a problem... 99.9% success already Thanks bro, you make me feel better  |
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Jul 16 2015, 11:36 PM
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#10
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(Cabinda @ Jul 16 2015, 11:34 PM) dont happy too early... our housing policy will always change... who know in future they imposed 70% quotas... since they can go from 30% to 50% They are killing the developer lol... Btw if not mistaken Selangor still 30% quota right? |
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Jul 17 2015, 11:45 AM
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#11
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(linkor @ Jul 17 2015, 10:41 AM) You already signed.. actually no point arguing.. I havent signed the s&p.. Still have last chance to decide now.. That's why need sifu like you to advise me.. happy investing and good luck ! |
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Jul 17 2015, 01:57 PM
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#12
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(linkor @ Jul 17 2015, 01:03 PM) Since you ask.. my concern are.. Thanks bro1) Are you sure you can get title later on ? Developer promise do not count. 2) Know your risk, if you can't get title, what to do ? 3) Would it be better to buy a non-bumi unit ? even if it could price higher ? 1) Not sure can get title o not but some says is just matter of time. 2) the only risk i know is i wil get hard time seling to another non bumi. What else should i worry of? 3) Yes, there are some non bumi lot but my wife like the design and location for this bumi unit. |
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Jul 19 2015, 04:31 PM
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#13
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Senior Member
1,457 posts Joined: Jul 2009
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QUOTE(lucerne @ Jul 19 2015, 03:05 PM) Selangor land office will not easily let go the bumi quote to non bumi.. even u wish to pay the bumi discount premium difference. What if I resell to bumi? If transaction done during master title, do we still need to get consent from state authority?sometime Bumi sold to non bumi (if succeeded) and then plan to resell to a non bumi -also difficult if before strata out. so my advise is better skip, no point go thru so many appeals and waste or pay more legal fee etc. |
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