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About MOC/MOT
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DragonReine
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Nov 21 2023, 09:19 PM
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QUOTE(Mlchoo @ Nov 21 2023, 05:33 PM) I am in Penang. The lawyer from developer called to say can get MOT. Is the lawyer's fees negotiable or not? Also, besides MOT, they tell me got to pay 2k+ for registration fee for transfer and stamp duty another 19k. Legal fees almost 4k (transfer 2.4k, charge 1.5k). Total around 25k. Is this reasonable? Lawyer's fees are pretty much fixed by Solicitor's Remuneration Order (a guidelines for law firm fees) in Malaysia, can calculate here: https://www.lowpartners.com/malaysia-law-fi...uty-calculator/Except that if you employ same law firm as your representative law firm for SPA signing, the existing lawyer should only charge the buyer only 25% of their full-scale legal fees, per the Solicitors Remuneration Order. If different lawyer, max is 50%. This post has been edited by DragonReine: Nov 21 2023, 09:21 PM
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DragonReine
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Jan 11 2025, 09:32 AM
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QUOTE(hihihehe @ Jan 4 2025, 07:30 PM) Quick question Can i do POT without the stamp duty first or i have to do both at the same time? Developer lawyer want to charge me penalty if delaying the transfer but i dont intend to so it now as i could resell it Impossible to do without stamp duty. The stamp duty is what formalized the document and allow the transfer of your name to the title. Land Office will not process without the stamp duty paid.
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DragonReine
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Jan 11 2025, 07:09 PM
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QUOTE(hihihehe @ Jan 11 2025, 01:26 PM) Then MOC also have to do together right? Im getting separate legal fees for POT and MOC Yes correct Perfection of transfer=transfer your name to title, so you are owner of the individual/strata title Perfection of charge=provide security to the bank that the title is charged in favor of the bank, so that they can take legal action if you don't pay the loan (you'll see under your name on the title there will be a clause saying that your property is charged to your financing bank)
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