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TSFreshGraduate
post Dec 23 2017, 11:29 AM, updated 7y ago

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What is the most "cost effective" way for ... e.g. Transfer of property from aunt to her nephew. House is still servicing under loan (need to clear loan first right?). What is the stamp duty rate?

Thanks guys!

Edit: Loan almost settled.

This post has been edited by FreshGraduate: Dec 23 2017, 05:08 PM
roy_zu
post Dec 23 2017, 04:34 PM

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QUOTE(FreshGraduate @ Dec 23 2017, 11:29 AM)
What is the most "cost effective" way for ... e.g. Transfer of property from aunt to her nephew. House is still servicing under loan (need to clear loan first right?). What is the stamp duty rate?

Thanks guys!
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Need to clear the loan and buyer takes up new loan. Aunt to nephew not different from usual seller to buyer. Maybe you can save up the agent commission 3%
TSFreshGraduate
post Dec 23 2017, 05:20 PM

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QUOTE(roy_zu @ Dec 23 2017, 04:34 PM)
Need to clear the loan and buyer takes up new loan. Aunt to nephew not different from usual seller to buyer. Maybe you can save up the agent commission 3%
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Would it be better to clear the loan first in this case? (as it is almost fully repaid) and then initiate the transfer? Just want to find out what is the estimated costs to proceed with what you mentioned and this (to find the better alternative in terms of cost). Could only find threads on transfer within family members but not relatives. rclxub.gif
pain_pain
post Jan 4 2018, 09:30 AM

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QUOTE(FreshGraduate @ Dec 23 2017, 05:20 PM)
Would it be better to clear the loan first in this case? (as it is almost fully repaid) and then initiate the transfer? Just want to find out what is the estimated costs to proceed with what you mentioned and this (to find the better alternative in terms of cost). Could only find threads on transfer within family members but not relatives. rclxub.gif
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yes, it is better to clear the loan. although it is a aunt to nephew case , but there is no discount on stamp duty. you still have to pay full stamp duty.

cost of transfer include legal fees and stamp duty will depends on the market value of the property.

pls do pm me if you need lawyer to assist.
frequency
post Jan 14 2018, 05:41 PM

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Tumpang thread , sorry TS. I need some help.

I have refinanced the loan to another bank, and got the house transferred from my brother to me 3 years ago.

According to previous lawyer, there is no SNP involved, and only MOT involved.

After long long process, finally loan done and transfer done.. but right now, as my bro need to prove to KWSP for discharge of the first home but...

i only have the facility agreement document, hukum tanah document...

hmmmm, there is no MOT document or SNP I have received, any idea what docs I can use to prove that?


This post has been edited by frequency: Jan 14 2018, 05:42 PM
hanhanhan
post Jan 17 2018, 06:23 PM

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» Click to show Spoiler - click again to hide... «


show them a copy of the title with the new financier name inside (2nd page).

title shud have "kanun tanah negara" on front page

 

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