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gns89
post Jul 13 2016, 03:19 PM

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QUOTE(lifebalance @ Jul 13 2016, 02:18 PM)
if you don't pay for your MOT, your title will not be under your name and will be under the master title, when you want to tell ur property later in the future when ur developer might not be here due to bankruptcy or gone edi, you'll have problem selling it.
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I wanted to avoid this thing to happen oso as I've already planned of selling it when it appreciated within few years time. What is your advise and how normally people will do?
lifebalance
post Jul 13 2016, 03:29 PM

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QUOTE(gns89 @ Jul 13 2016, 03:19 PM)
I wanted to avoid this thing to happen oso as I've already planned of  selling it when it appreciated within few years time. What is your advise and how normally people will do?
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you must get permission from the developer when you want to sell ur property and tell them that the buyer will borne for the MOT.
shaniandras2787
post Jul 13 2016, 03:36 PM

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QUOTE(gns89 @ Jul 13 2016, 01:31 PM)
Hi Sifus,

My new property is almost completed by end of this year and I was told by my friend that I need to pay for the MOT.

However, when I called my agent and he said that I don't have to pay for the MOT as the developer do not apply for it and the S&P is already under my name.

Can someone please advice is this is possible/valid ?

If it is so, not applying for the MOT is it will affect my future transaction like selling off the property ?

I am still new in property purchasing and would like to get some guidance from the knowledgeable.
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In accordance to the Strata Management Act, the individual document of title to the property will be issued simultaneously at the time the purchasers take delivery of vacant possession of the property so I'm assuming that you will fall under the purview of this new Act.

Whether with or without the new Act, the law imposes an obligation for the developer to submit for the issuance of strata titles to the parcels held under master titles so i don't know why your agent gave you inaccurate information. Maybe his choice of word is wrong, probably he meant "not yet" rather than "did not".

Having the MOT completed is essential if the issue document of strata title has been issued because it will then cause the endorsement of your name as the owner on the title and the name of your financier as the chargee.

In respect of your prospect of selling the property to an intended purchaser in the future, if you are lucky, the developer may agree to a direct transfer and in this sense, you can save on paying the stamp duty for your MOT but if the developer don't then you can still do and need to complete your MOT first before proceeding the intended sale and purchase. the time frame for completion may vary depending on whether your property is a leasehold or freehold.



gns89
post Jul 13 2016, 03:58 PM

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QUOTE(shaniandras2787 @ Jul 13 2016, 03:36 PM)
In accordance to the Strata Management Act, the individual document of title to the property will be issued simultaneously at the time the purchasers take delivery of vacant possession of the property so I'm assuming that you will fall under the purview of this new Act.

Whether with or without the new Act, the law imposes an obligation for the developer to submit for the issuance of strata titles to the parcels held under master titles so i don't know why your agent gave you inaccurate information. Maybe his choice of word is wrong, probably he meant "not yet" rather than "did not".

Having the MOT completed is essential if the issue document of strata title has been issued because it will then cause the endorsement of your name as the owner on the title and the name of your financier as the chargee.

In respect of your prospect of selling the property to an intended purchaser in the future, if you are lucky, the developer may agree to a direct transfer and in this sense, you can save on paying the stamp duty for your MOT but if the developer don't then you can still do and need to complete your MOT first before proceeding the intended sale and purchase. the time frame for completion may vary depending on whether your property is a leasehold or freehold.
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Thanks shaniandras2787, very informative explanation.

Mine is a freehold property, what's your estimate on the time frame for completing the MOT?

Is it feasible/possible for us to request for this MOT from the developer during current stage of construction (under-con) ? Or it is advisable to do it only when there're potential resell happening ? I reckon getting an MOT completed is a time consuming task......



shaniandras2787
post Jul 14 2016, 11:02 AM

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QUOTE(gns89 @ Jul 13 2016, 03:58 PM)
Thanks shaniandras2787, very informative explanation.

Mine is a freehold property, what's your estimate on the time frame for completing the MOT?

Is it feasible/possible for us to request for this MOT from the developer during current stage of construction (under-con) ? Or it is advisable to do it only when there're potential resell happening ? I reckon getting an MOT completed is a time consuming task......
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The process from going to your solicitor's firm to sign the relevant documents to presenting same at the land authority for registration is fast, should take about two (2) weeks or so BUT waiting for the extraction of the duly registered issue document of strata title is going to be a pain in the arse.

The extraction time could take up to ten (10) months from the date of presentation for registration.

MOT is only required to be completed if the individual document of title to the property has been issued. Anytime prior to that, not required. So, even if you make a request to the developer now, your request will be denied.

It's very difficult to determine "when" is the right time to complete the MOT because it depends entirely on the individual but take notice that there is law to impose a penalty of between RM1,000.00 to RM10,000.00 if the owner of the parcel fails to complete the MOT within twelve (12) months from the date the developer's letter informing the owner of the issuance of the individual document of title to the Property.
black_hammer
post Nov 5 2016, 03:45 AM

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Full Entitlement, 50% MOT stamp duty discount per person.

First property registered under 2 persons.
It will be entitled for 50% less, 25% each.
It only utilize the partial entitlement, 50% from the full entitlement.

Are we able to look for another 50% less stamp duty on our second property which under the same 2 persons from the previous first property.
Fully utilize on the 50% stamp duty per life time per person.
WahBiang
post Nov 5 2016, 09:04 PM

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QUOTE(shaniandras2787 @ Jul 14 2016, 11:02 AM)
The process from going to your solicitor's firm to sign the relevant documents to presenting same at the land authority for registration is fast, should take about two (2) weeks or so BUT waiting for the extraction of the duly registered issue document of strata title is going to be a pain in the arse.

The extraction time could take up to ten (10) months from the date of presentation for registration.

MOT is only required to be completed if the individual document of title to the property has been issued. Anytime prior to that, not required. So, even if you make a request to the developer now, your request will be denied.

It's very difficult to determine "when" is the right time to complete the MOT because it depends entirely on the individual but take notice that there is law to impose a penalty of between RM1,000.00 to RM10,000.00 if the owner of the parcel fails to complete the MOT within twelve (12) months from the date the developer's letter informing the owner of the issuance of the individual document of title to the Property.
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Hihi, any idea on how to check if we have utilised the MOT discount?
The MOT for my first freehold landed property was covered by the developer and notice that it seems quite cheap compared those online calculator, hence i suspect developer used my 50% discount for first house ady... Now I need to pay for my 2nd house, a leasehold service apartment, but not sure whether it had been utilised or not.
shaniandras2787
post Nov 7 2016, 11:45 AM

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QUOTE(WahBiang @ Nov 5 2016, 09:04 PM)
Hihi, any idea on how to check if we have utilised the MOT discount?
The MOT for my first freehold landed property was covered by the developer and notice that it seems quite cheap compared those online calculator, hence i suspect developer used my 50% discount for first house ady... Now I need to pay for my 2nd house, a leasehold service apartment, but not sure whether it had been utilised or not.
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The discount is not one time exclusive in personam. It applies to every purchase.


WahBiang
post Nov 8 2016, 10:19 PM

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QUOTE(shaniandras2787 @ Nov 7 2016, 11:45 AM)
The discount is not one time exclusive in personam. It applies to every purchase.
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im referring to the MOT instead of the legal fee... any idea where to get more info on this?
i am number 2
post Nov 29 2016, 03:19 PM

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Dear all,

I am first time property buyer. Bought a service apartment under construction in August 2015, and the VP is estimated between December 2016 and Feb 2017.

My question is when do I need to pay for the MOT fee from the date of VP? Heard from ppl that new strata act requires the VP to come with the MOT, does this mean we have to pay for the MOT fee during the VP date? I want to know this for some financial planning...hope anyone can help.

This post has been edited by i am number 2: Nov 29 2016, 03:20 PM
dannychen
post Nov 29 2016, 09:24 PM

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QUOTE(i am number 2 @ Nov 29 2016, 03:19 PM)
Dear all,

I am first time property buyer. Bought a service apartment under construction in August 2015, and the VP is estimated between December 2016 and Feb 2017.

My question is when do I need to pay for the MOT fee from the date of VP? Heard from ppl that new strata act requires the VP to come with the MOT, does this mean we have to pay for the MOT fee during the VP date? I want to know this for some financial planning...hope anyone can help.
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better seek for your lawyer advice.
aaron1717
post Dec 2 2016, 12:33 PM

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QUOTE(i am number 2 @ Nov 29 2016, 03:19 PM)
Dear all,

I am first time property buyer. Bought a service apartment under construction in August 2015, and the VP is estimated between December 2016 and Feb 2017.

My question is when do I need to pay for the MOT fee from the date of VP? Heard from ppl that new strata act requires the VP to come with the MOT, does this mean we have to pay for the MOT fee during the VP date? I want to know this for some financial planning...hope anyone can help.
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better ready that money earlier and nvr touch it till you have to pay it....
rachel_xxx
post Dec 27 2016, 09:37 PM

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Hi can I know, MOC - how much normally the total legal charges? property price RM400k.

I expected MOT + legal fees can settle already, suddenly need to pay for MOC + legal fee as well.. pening...

MOT lawyer cannot do MOC? Why my MOT lawyer throw the docs back to my loan lawyer? Lawyer took 1 year 8 months to settle the transfer perfection, now still left very short time to settle MOC, if kena penalty can sue the MOT lawyer?

Thanks.
WahBiang
post Jan 8 2017, 09:52 AM

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QUOTE(shaniandras2787 @ Nov 7 2016, 11:45 AM)
Regarding MOT, some said those launched before the new act come into inforce will still follow the old the strata act, but some said it will still need to new strata act to handover the title once VP.. which one is true?
dannychen
post Jan 8 2017, 12:26 PM

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QUOTE(WahBiang @ Jan 8 2017, 09:52 AM)
Regarding MOT, some said those launched before the new act come into inforce will still follow the old the strata act, but some said it will still need to new strata act to handover the title once VP.. which one is true?
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depends on developer's license for that particular project (APDL), if the APDL issued before the new act enforce, they will follow old act.
WahBiang
post Jan 9 2017, 08:23 AM

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QUOTE(dannychen @ Jan 8 2017, 12:26 PM)
depends on developer's license for that particular project (APDL), if the APDL issued before the new act enforce, they will follow old act.
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The project was launched in 2014, so APDL should be done in 2014 as well? So I guess follow old act if based on ur above statement?
shaniandras2787
post Jan 9 2017, 10:22 AM

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QUOTE(WahBiang @ Jan 9 2017, 08:23 AM)
The project was launched in 2014, so APDL should be done in 2014 as well? So I guess follow old act if based on ur above statement?
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If the AP/DL is issued/approved prior to the effective date of the amended Strata Titles Act then yes, the old law will be applicable. Thus, you need to check with the Developer on when the AP/DL is issued but I doubt you will get any help on this.

Whatever it is, just seek to have the title perfected in your favor as soon as possible rather than estimating how long a period you can delay the perfection.
WahBiang
post Jan 9 2017, 01:33 PM

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QUOTE(shaniandras2787 @ Jan 9 2017, 10:22 AM)
If the AP/DL is issued/approved prior to the effective date of the amended Strata Titles Act then yes, the old law will be applicable. Thus, you need to check with the Developer on when the AP/DL is issued but I doubt you will get any help on this.

Whatever it is, just seek to have the title perfected in your favor as soon as possible rather than estimating how long a period you can delay the perfection.
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Yeah, just think of the cash flows timing
locoroco2
post May 6 2017, 09:24 PM

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Dear all, my strata title finally ready, I received 2 quotation from same solicitor who did my SPA as well as Loan Agreement, namely:
1) Perfection of MOT &
2) Perfection of Charge (MOC)

I would like to know if these particular charges below are reasonable:

Perfection of MOT: (Purchase price 350K)
- MOT legal fee 870
- MOT Registration fee 200
- Land Search fee 50 (still need another land search after SPA?)

Perfection of MOC: (Loan amt 315K)
- Legal fee for Subsidiary instrument - MOC RM800 (how they calculate?)
- Purchase documents from bank/developer - RM250 (no idea what this)
- Stamp duty for MOC - RM40

Hence, in order to sign the MOT, i need to pay a total of RM9300 (MOT 7600 + MOC 1700)...

Appreciate if someone can clarify on the charges listed above smile.gif Thanks!

This post has been edited by locoroco2: May 7 2017, 10:14 AM
locoroco2
post May 7 2017, 07:09 PM

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QUOTE(shaniandras2787 @ Jul 14 2016, 11:02 AM)
It's very difficult to determine "when" is the right time to complete the MOT because it depends entirely on the individual but take notice that there is law to impose a penalty of between RM1,000.00 to RM10,000.00 if the owner of the parcel fails to complete the MOT within twelve (12) months from the date the developer's letter informing the owner of the issuance of the individual document of title to the Property.
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the developer's letter asked me to sign the MOT within 30 days from date of the notice, I am confused as to whether 30 days or 12 months period ?

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