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TScocklea
post Jun 21 2017, 01:06 AM, updated 7y ago

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Hi, sorry if this has been asked numerous times but I can't find answer online.

The house I currently live in is under my sister's name. She wants to change the title to my name. House value is less than 300k. What is the procedure I need to go through to do this. Do I need to engage a lawyer? And how much will this cost me.

Thanks in advance
wild_card_my
post Jun 21 2017, 02:16 AM

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QUOTE(cocklea @ Jun 21 2017, 01:06 AM)
Hi, sorry if this has been asked numerous times but I can't find answer online.

The house I currently live in is under my sister's name. She wants to change the title to my name. House value is less than 300k. What is the procedure I need to go through to do this. Do I need to engage a lawyer? And how much will this cost me.

Thanks in advance
*
Is the property encumbered? As it does it have any loans on it? And when the transfer is made, would you need to pay the sister 300k, or just transfer like that without any payment? Would you be needing a mortgage if you need to pay for that or would you be paying cash?
TScocklea
post Jun 21 2017, 08:54 AM

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QUOTE(wild_card_my @ Jun 21 2017, 02:16 AM)
Is the property encumbered? As it does it have any loans on it? And when the transfer is made, would you need to pay the sister 300k, or just transfer like that without any payment? Would you be needing a mortgage if you need to pay for that or would you be paying cash?
*
House is fully paid for, and i dont need to pay any money to my sister, just transfer.
alextan99
post Jun 21 2017, 09:15 AM

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I am not expert but she can transfer the ownership to your name and government will tax based on the market value plus lawyer fees. Since its internal transfer both can use the same lawyer to save some cost
wild_card_my
post Jun 21 2017, 10:34 AM

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QUOTE(cocklea @ Jun 21 2017, 08:54 AM)
House is fully paid for, and i dont need to pay any money to my sister, just transfer.
*
ok so all you need is an MOT. You can have a lawyer help you with this, better do it properly. Fees will be based on the market value, stamp duty is ALSO applicable, but can apply for waiver from LHDN.. is this your first property? Success rate for the waiver: can't say, up to LHDN. No need for an SPA though since this is just MOT. Let me know if you need quotes from lawfirms

This post has been edited by wild_card_my: Jun 21 2017, 10:36 AM
TScocklea
post Jun 21 2017, 11:37 AM

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QUOTE(alextan99 @ Jun 21 2017, 09:15 AM)
I am not expert but she can transfer the ownership to your name and government will tax based on the market value plus lawyer fees. Since its internal transfer both can use the same lawyer to save some cost
*
Thanks for the answer. I read something along that line as well but no full detail.

QUOTE(wild_card_my @ Jun 21 2017, 10:34 AM)
ok so all you need is an MOT. You can have a lawyer help you with this, better do it properly. Fees will be based on the market value, stamp duty is ALSO applicable, but can apply for waiver from LHDN.. is this your first property? Success rate for the waiver: can't say, up to LHDN. No need for an SPA though since this is just MOT. Let me know if you need quotes from lawfirms
*
Thanks for this. It helps me understand better. Definitely need quotes from lawfirm but im in JB though, is that possible?

I have another question if you dont mind. The house in question is currently Hak Milik Sementara. It is a freehold bumi (or non-bumi, have to recheck) house, but just the Hak Milik is Sementara. Is it possible to change to Hak Milik Kekal?
lifebalance
post Jun 22 2017, 11:00 AM

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QUOTE(cocklea @ Jun 21 2017, 01:06 AM)
Hi, sorry if this has been asked numerous times but I can't find answer online.

The house I currently live in is under my sister's name. She wants to change the title to my name. House value is less than 300k. What is the procedure I need to go through to do this. Do I need to engage a lawyer? And how much will this cost me.

Thanks in advance
*
In your situation you will need to refinance this property from your sister to your name

Then from there the SPA and title can be transferred to your name.

The process is not complicated, you just have to apply for the loan with the bank in this case.

The costing is based on 5% of the market value of the property

Your sister can also choose to sell it to you at a cheaper price.


wild_card_my
post Jun 22 2017, 11:05 AM

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QUOTE(lifebalance @ Jun 22 2017, 11:00 AM)
In your situation you will need to refinance this property from your sister to your name

Then from there the SPA and title can be transferred to your name.

The process is not complicated, you just have to apply for the loan  with the bank in this case.

The costing is based on 5% of the market value of the property

Your sister can also choose to sell it to you at a cheaper price.
*
the house is unencumebred and the transferee doesnt need to pay anything to the current owner. no need to do refinancing. A transfer will do.
lifebalance
post Jun 22 2017, 11:08 AM

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QUOTE(cocklea @ Jun 21 2017, 08:54 AM)
House is fully paid for, and i dont need to pay any money to my sister, just transfer.
*
QUOTE(alextan99 @ Jun 21 2017, 09:15 AM)
I am not expert but she can transfer the ownership to your name and government will tax based on the market value plus lawyer fees. Since its internal transfer both can use the same lawyer to save some cost
*
In this case it is cheaper to do a MOT transfer without the need to refinance. Just have to pay the stamp duty based on the market value will do.
wild_card_my
post Jun 22 2017, 11:11 AM

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QUOTE(cocklea @ Jun 21 2017, 11:37 AM)
Thanks for the answer. I read something along that line as well but no full detail.
Thanks for this. It helps me understand better. Definitely need quotes from lawfirm but im in JB though, is that possible?

I have another question if you dont mind. The house in question is currently Hak Milik Sementara. It is a freehold bumi (or non-bumi, have to recheck) house, but just the Hak Milik is Sementara. Is it possible to change to Hak Milik Kekal?
*
The hak Milik sementara is related to government issue, they havent finished surveyingthe the area and they may have other projects coming up. In the future once they are done surveying you can ask for new title with the hak milik kekal. but that is not up to you, it is up to the government.
hanhanhan
post Jun 23 2017, 02:59 PM

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QUOTE(cocklea @ Jun 21 2017, 11:37 AM)
Thanks for the answer. I read something along that line as well but no full detail.
Thanks for this. It helps me understand better. Definitely need quotes from lawfirm but im in JB though, is that possible?

I have another question if you dont mind. The house in question is currently Hak Milik Sementara. It is a freehold bumi (or non-bumi, have to recheck) house, but just the Hak Milik is Sementara. Is it possible to change to Hak Milik Kekal?
*
just do a transfer based on love & affection. stamp duty will be based on market value of the house.

if market value 300k - stamp duty is 5k
legal fee to do it is supposed to be 3k
then some disbursements to lawyer such as registration fee at land office (each state diff fee, so i can't really tell u how much is it in JB), transport etc

hakmilik sementara is just govt thing. the final will be either Geran or Geran Mukim. This doesn't affect the value of the house or validity of the title.

This post has been edited by hanhanhan: Jun 23 2017, 03:00 PM
mr.thinkpad
post Jul 7 2017, 08:03 AM

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QUOTE(hanhanhan @ Jun 23 2017, 02:59 PM)
just do a transfer based on love & affection. stamp duty will be based on market value of the house.

if market value 300k - stamp duty is 5k
legal fee to do it is supposed to be 3k
then some disbursements to lawyer such as registration fee at land office (each state diff fee, so i can't really tell u how much is it in JB), transport etc

hakmilik sementara is just govt thing. the final will be either Geran or Geran Mukim. This doesn't affect the value of the house or validity of the title.
*
hakmilik sementara isn't going to get hakmilik kekal?
AllexKing
post Jul 7 2017, 10:07 AM

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QUOTE(cocklea @ Jun 21 2017, 11:37 AM)

I have another question if you dont mind. The house in question is currently Hak Milik Sementara. It is a freehold bumi (or non-bumi, have to recheck) house, but just the Hak Milik is Sementara. Is it possible to change to Hak Milik Kekal?
*
QUOTE(mr.thinkpad @ Jul 7 2017, 08:03 AM)
hakmilik sementara isn't going to get hakmilik kekal?
*
On the issuance of Final title by Land Office, its based on 2 scenarios :-

1. Assumption yr property is more than 10 years and title survey fee yet to deposited to Board of Surveyor by developer. Its will take time for Land Office to do survey for issuance of Final Title.

2. In scenario yr property is still new and issued with individual title and also developer deposit the title survey fee to Board of Surveyor. Its much more easier to obtain Final Title. The appointed Licensed Surveyor will expedite and complete the survey and apply for the Final Title from respective authorities.

 

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