ahhhh, thank you so much for your explanation ~

wow tq for explanation

Was looking answer to this as well. Anyone have any idea? Thanks

There isn't a specific timeline per say. It is advisable to be done soonest possible as you wouldn't know when the developer will close down. If the developer were to close down it will be a hassle.

I agree on doing it asap. Developers / their subs might just close down after few years down the road. Worse is if they got into winding up and someone else takes over... then it will be worse.

Hi all,

I bought a new property from developer and in the benefit scheme when signing snp, it stated that I'm entitled for zero legal fee and disbursement fee for SnP and loan agreement.

Do i still need to pay legal fee and disbursement fee for Memorandum of Charge (MOC) and memorandum of Transfer (MOT)?

Thanks

There are tnc if the property qualify for HOC. Even if it does, and your lawyer didnt claim it b4 the dateline, then is as good not qualified.

You have to confirm with the SnP lawyer.

Hi,

My lawyer said SOHO property is not entitled for stamp duty remission because it is considered as retail and not residential properties.

What do you guys think? Is this correct?

'Branding' is not a detetmining factor for exemption of mot under HOC. If the title is stated commercial, then the property is not entitle for the exemption.

Want to ask some clarification. I have my 1st property SPA signed & stamped 2014 and late last year 2021 got the letter to complete MOT&MOC.

My Service Apartment unit details below. Unique is house & carpark have separate agreements ostensibly easier for owners to sell carpark lot only.
Term Loan: RM 463,140 (Unit RM427,140 & Car Park RM 36,000)
Unit SPA Purchase Price: RM 474,600
Car Park Purchase Price: RM 40,000

The problem is, I got quoted by 3 lawyers on the completion and each are referencing different figures. So which is the right one?
Quote A
MOT(POT) & MOC(POC) BOTH based on Term Loan

Quote B
MOT(POT) based on Unit SPA Purchase Price ONLY
MOC(POC) based on Term Loan

Quote C
MOT(POT) based on Unit SPA Purchase + Car Park Purchase
MOC(POC) based on Term Loan

Oso would there be any issue if it were done improperly, ie quoting lowest figure, as I understand the stamp duty based on MOT(POT)?

MOT is based on SnP

MOC is based on Loan Agreement

However, legal fees and disbursements may differ from each firm.

Hi, thanks for the quick reply. So just to confirm SnP means "SPA Purchase + Car Park Purchase" or just the SPA Purchase (house unit only)?

In my opinion, it should be for both since bith are transfer of ownership.

Ahh noted, Tq tq

Another thing, seeing many conversations of waivers or tax rebates and such for those years purchase before and after mine but since my SPA is signed in Year 2014, I don't suppose I got any waiver or tax rebates, am I rite?

During the purchase then, the sales people would have inform you if there is available tax rebates or waiver and your lawyer should have claimed, if you quaified for it.

This post has been edited by mini orchard: Feb 23 2022, 05:10 PM

Ahahaha! Nothing was mentioned back when I bought it so I guess not then! Thanks anyway

Another thing I want to ask. it is about the payment.

Roughly Im gonna pay Rm 14-16,000 and mostly is due to stamp duties. Are there any easy payment methods pay this off or I really have to pay lump sum to Govt? Are there such things as monthly deductions?

1. Personal Loan.

2. Do cash withdrawal from CC Bank A and immediately do a zero interest balance transfer with Bank B. Check if your Bank B have such promo for CC. Interest will be cheaper than PL for the cash withdrawal.

In Jan I fully settled PTPTN with CC and convert to zero interest 12 months instalment

This post has been edited by mini orchard: Feb 25 2022, 04:45 PM

I have an apartment which still on master title. I received letter from the developer to do MOT last year, it cost about RM10k...
To my luck, I manage to sell the apartment. In this case, do I still need to do the MOT (RM10k)?? Could the property transfer MOT directly done with the new owner please?
Hope sifu here can advise please

Most likely no since strata title is ready for execution.

However you can still submit a request to the developer and see whether they want to 'help' you.