Double Transfer help
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 Sep 10 2017, 02:24 PM
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#1
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space   
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So meaning that if a property is:
Still under master title but in the middle of transfer to strata, need to do double transfer in order to buy/sell the property? If it is Still under master title but no process of transfer to strata yet, then this is a straight forward case as compare to the first scenario? Am I correct? |
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Sep 10 2017, 10:32 PM
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#2
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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chiahau what does vendor mean here? a 3rd party?
Many properties in the market still under master title. So better to check whether the title is still hold by developer or already transfer to "vendor"? Is that correct? Sorry for my noob question. |
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Sep 10 2017, 10:44 PM
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#3
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All Stars
23,688 posts Joined: Aug 2007 From: Outer Space
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QUOTE(chiahau @ Sep 10 2017, 10:36 PM) Vendor = Penjual = Orang yang jual property to you. okay understood. thanks for the explanation. Purchaser = Pembeli = You Master title held by developer is no problem one ( Unless Dev bankrupt or under receivership ). Now under new strata act, 6 months after issuance of Strata, must transfer d or will kena fine or what. Held by Developer for subsale case also no problem ( Providing it's freehold or developer give consent for DIRECT TRANSFER ) Double Transfer = Developer => Vendor => Purchaser. Direct Transfer = Developer => Purchaser. If you're buying a Selangor property and it's leasehold, better to have the title transferred to the Vendor before proceeding. If not later wait over 1 year, leceh la. Leasehold Property & Restriction of Interest = Need to go thru Land Office for Consent. Usually delay at here coz Land Office needs time to work.  just completed a purchase of a selangor leasehold property. still under master title. done and dusted within 3 months. I think should be direct transfer in this case. didn't really check with the lawyer about the process. only know the end results. |
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