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 Strata Title, Why is it important?

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TSaurora97
post Jun 16 2019, 01:00 PM, updated 7y ago

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This article is pretty interesting because a lot of developers drag their feet in issuing strata title.

In the beginning, the land is registered with the developer under a master title. Thereafter, he will build structures on top of it. Once the property is VPed, by right the developer should have applied for the master title to be stratified. So each owner of a parcel will get a title.

The delay for the developers to stratified the master title because it cost a lot of money. Which requires developer to pay lump sum first and claim back from purchasers later. Sometimes also delay by purchasers in paying the developer. bangwall.gif

Nowadays, we here certain property, 10-20 years also don't have strata title. This is a problem to the seller because the bank don't have a title to charge as security.

This article explains both importance, why its needed, the process, the cost involved and how to escalate, if your developer does get the strata title in time.

http://www.starproperty.my/index.php/artic...nership-issues/

 

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