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About MOC/MOT
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WahBiang
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Jun 1 2016, 09:09 AM
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QUOTE(shaniandras2787 @ Mar 2 2016, 09:16 AM) I was told that the legal fees for SPA and LA is free (borne by developer). But then since the project is still under construction, so by the time it's completed and ready for title transfer, it could be 3 years later. At this point, I know we need to pay MOT already but do we need to pay for legal fees again? And some agent even said we need to pay legal fees but capped at 25% if used back same lawyer as per SPA. Any comment?
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WahBiang
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Jun 1 2016, 10:30 AM
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QUOTE(shaniandras2787 @ Jun 1 2016, 09:48 AM) Yes. You need to pay the solicitors to prepare the Memorandum of Transfer form (Form 14A) during the perfection of transfer. The legal fees is capped at 25% of your total legal fees payable (based on your purchase price) which is excluding the disbursements etc. Thanks, but where is this cap being mentioned? I tried to dig it but couldn't find it.. must it be the same lawyer then only can enjoy the 25% cap?
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WahBiang
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Jun 1 2016, 01:19 PM
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QUOTE(shaniandras2787 @ Jun 1 2016, 12:14 PM) Search for the provision under the schedules attached to the Solicitors Remuneration Order (SRO). Yes, you need to go back to the same firm of solicitors who attended to your Sale and Purchase Agreement to be entitled to this rate. If you elect another firm of solicitors then the legal fees will be at 50%. Thanks Bro. Found it under Schedule 6 (paragraph 2f) of SRO ady.
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WahBiang
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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. 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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WahBiang
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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. im referring to the MOT instead of the legal fee... any idea where to get more info on this?
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WahBiang
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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?
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WahBiang
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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. 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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WahBiang
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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. Yeah, just think of the cash flows timing
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