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What's next after full settlement, Title transfer, lawyer etc?
TScym
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Oct 21 2017, 09:03 AM, updated 7y ago
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Getting Started
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Dear all sifus,
Need advise on next step after paid off the house.loan with Ambank.
I was told to come back after few weeks but the counter officer also not sure what is the next step.
How to do title transfer? Do I need to engage a lawyer, and what is the estimated fee for the services?
Thanks in advance.
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me_1980s
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Oct 23 2017, 12:13 PM
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Getting Started
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You need to engage a lawyer to do the discharge (title situation) /reassignment (non title situation).
Estimate fee including disbursements should be less than 1k.
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lifebalance
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Oct 23 2017, 03:23 PM
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QUOTE(cym @ Oct 21 2017, 09:03 AM) Dear all sifus, Need advise on next step after paid off the house.loan with Ambank. I was told to come back after few weeks but the counter officer also not sure what is the next step. How to do title transfer? Do I need to engage a lawyer, and what is the estimated fee for the services? Thanks in advance. If you've already paid off all the loan then you'll need to arrange for the discharge of the title so it's best you hire a lawyer for that to do for you. Cost prob 1k
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TScym
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Oct 24 2017, 12:31 PM
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Getting Started
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Ok noted. Thanks for the advise.
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jetwash
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Oct 25 2017, 09:09 AM
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What if we discharge to another name? Let's say I've settled house loan under my name, now want to change ownership to wife (only). Would it be like selling the house to her, legal cost-wise?
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shaniandras2787
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Oct 30 2017, 04:24 PM
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QUOTE(jetwash @ Oct 25 2017, 09:09 AM) What if we discharge to another name? Let's say I've settled house loan under my name, now want to change ownership to wife (only). Would it be like selling the house to her, legal cost-wise? You don't need to "sell" the property to your spouse if you want to just transfer the ownership. A simple transfer can be done. Legal costs wise will depend on the market value of the property. That's how the legal costs is derived from. Stamp duty is waived.
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hanhanhan
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Oct 31 2017, 03:53 PM
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» Click to show Spoiler - click again to hide... « QUOTE(shaniandras2787 @ Oct 30 2017, 04:24 PM) You don't need to "sell" the property to your spouse if you want to just transfer the ownership. A simple transfer can be done. Legal costs wise will depend on the market value of the property. That's how the legal costs is derived from. Stamp duty is waived. stamp duty is waived (just pay rm10) provided u have sijil kahwin
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