Refinancing your property for cash, and credit consolidation
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 Jul 6 2017, 05:34 PM
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#1
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Junior Member
238 posts Joined: May 2006 From: Kuala Lumpur  
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I have a question here. I own 2 small shop lots (Fully Paid Up) and a Sdn Bhd Company without any properties.
1) Would it be advisable to sell these shop lots to my own company to unlock it's value an let the Sdn Bhd finance the loan? 2) Is it legal to sell own property to own company? |
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Jul 6 2017, 07:02 PM
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#2
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Junior Member
238 posts Joined: May 2006 From: Kuala Lumpur
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QUOTE(lifebalance @ Jul 6 2017, 05:37 PM) 1. It depends on how you plan to move the properties as individual and the company are separate entities and also whether the other directors agree to take on the loan for this purchase. Thanks for the reply2. Yea no issue if it's agreed by all parties in the sdn bhd  |
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Jul 6 2017, 07:04 PM
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#3
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Junior Member
238 posts Joined: May 2006 From: Kuala Lumpur
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QUOTE(wild_card_my @ Jul 6 2017, 05:37 PM) The LTV of SDN BHD is on the lower side, tenure is shorter too. I am not actually looking to refinance it, I just want to transfer it to the company. Of course the company will have to take a loan to pay me.1. I would recommend refinancing it using the directors' names, you can use either the company bank statement and/or your director's salary as proof of income 2. It is legal to "sell" but more like to transfer the ownership. These 2 entities are separate entities... many people do this, especially for tax purposes. |
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