Hi all

Can anyone guide me what next after housing loan paid off?
The bank (hlb) said that i need to engage lawyer to getting back all legal docs, spa etc and i need to spend more? Which lawyer i need to go- any free service consultation available pls? I asked previous lawyer during spa sign off and they asked 3-4k...just to release my apartment.. Is this real?....

Which area is ur property located?

No la. I did one only <1k. The lawyer is helpful and will explain the procedure. He also give discount. Not bad actually

u better engage back your S&P lawyer. they will explain the process which roughly takes less than 2 months for my case to redeem back from bank and transfer of title...

hmm...
to discharge your property from bank, either discharge (if Individual Title/Strata Title is issued) or deed of receipt and reassignment (if your property still under Master Title), the legal fees + disbursement is under rm1000. the legal fees is stated under Solicitor Remuneration Order.

I not sure whether your property is still under Master Title and the Individual/Strata Title is issued but not yet transfer to your name (still under Developer's name), maybe your SPA lawyer include the fees for Perfection of Transfer (means to transfer the title into your name from the Developer). I think you should check this out.

I am engaging my SPA lawyer to execute the Perfection of Transfer of strata title. But was told by my SPA lawyer that there is a conflict of interest cos they are representing the financier (my housing loan bank). If i were to engage them i need to sign an agreement with them to acknowledge the fact that they are only representing the financier but not me and that i agree to engage them with with full knowledge and acknowledgement of the above. The solicitor also prepare a Charge Agreement between me and the financier despite the fact that there is already an existing home loan agreement that i had signed with the bank a few yrs ago when securing my home loan.

Is this a common practice in M'sia that the SPA lawyer representing both the Financier and the Mortgagor as in my scenario ?

On what ground that i need to sign the additional so called "Charge Agreement" with my financier ?

Appreciate your advice on what i should do.

Your Title was recently issued so you need to do Perfection of Transfer and Perfection of Charge. As it is recently issued the title would be in the name of the Developer. Thus you need to "perfect the title" by registering the title in your name from the Developer's name.

As for the Charge, title needs to be "perfected" also by registering the charge in your financier's name.

Usually for POT, the lawyer would be representing you. But for POC, the solicitor has to obtain a letter of instruction from the financier to allow them to do this process for you. Therefore, they don't actually represent you but they represent the financier. As such, u will be required to sign this letter of acknowledgment of legal representation in respect of the POC - customary practice.



I think you are referring to Charge Annexure. This is necessary as the Charge Annexure is to be annexed with the Form 16A (Charge instrument) used to register the charge in your financier's name on your title (for POC transaction). These documents would then be submitted to the land office for POC registration.

Previously you would have signed a Facilities Agreement, Deed of Assignment by way of security and Power of Attorney. These are loan documentations.

This post has been edited by kruk_kruk_kruk: Jun 2 2020, 09:14 PM