Bought a property which the developer because unable to pay the debtors, decided to declare bankrupt. Now there is a lawyer coming by to work on the strata title for the owners, for a fees collected upfront, but unable to specifically say when the strata title can be obtained.

Made to understand that there is significant amount money to be paid to some entities before the strata title can be obtained. And thus the lawyers idea is pool this money together from the owners. Is this correct ?

Who exactly will be responsible for seeing through the process of getting strata titles for the owners ? The liquidator might be most unwilling to sign off whatever documents to allow the strata title process to go smoothly to completion, until they collected whatever money they took out earlier.

The owners themselves would naturally have vested interest in this but individually, they would do nothing. I would imagine that condo management might also be having vested interest in seeing through this as well ?

Want to know the process. Could someone familiar with this enlighten me ?

If the Developer/Company wound up means the Official Receiver or Liquidator should do the strata.

So you are saying there is no way this can be accelerated, when it comes, it will come ? Just wait for Liquidator to notify you ?

If the liquidator doing his job well then should be no problem. Coz the master title still in the developer name. So the liquidator should do the work. Appoint surveyor to do the strata.

My company also doing the same thing

What is a surveyor ?

Your company is a legal firm ?

Surveyor are doing the plan and submission to Pejabat Tanah to apply strata title.

My company doing the liquidation.

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That's why it is important for buyer to seek for strata title, or quickly done it once it is available.

Without strata title, it is messy for the future.

It is sad to say, many still do not bother or know the importance of the strata title.

Still don't understand. I supposed a surveyor is employed by somebody. In this case of bankrupt developer, rightfully the liquidator is the one employs the surveyor to apply for strata title, right ?

I would imagine that the liquidator isn't the party most interested to see this through.

Would it be possible for the buyers to poll together money to hire surveyor to hasten the process ?

How can the process of applying for strata title be carried through ?

Buyer will be most interested to seek for strata title, but who they should go to is the question.

Current legislation is not good to protect buyer.

Strata title is only possible when developer sub-divide its land and submitted to land office for buyer to apply for strata title.

If developer closed shop without sub-divided its origin land title, then buyer is stuck in no man's land.

Liquidator suppose to liquidate once the company closed shop, but sometimes it may take for years or look like never ending saga, missing documentation, wrong procedures, delay whatever.
Worst sometimes, the land is already mortgaged to bank, or being caveat for whatever reason, dispute etc. then the procedures would even more messy.

That's why no one can promise when it can be done in this kind of situation.
It may not as simple appoint liquidator then already can solve, as you don't know what is the situation of the bankrupt developer.

That's why it is important to have strata title, I would never buy a property that without a title, it is messy.
That's why developer reputation, financial strength is also an important criteria when purchasing a property.

Then you advise is for people who haven't bought the property. The topic here is if it is so unfortunate one is already in this situation, what can he do ? and what is the best thing he can do .....

Group up owners, appoint experienced or good lawyer, liquidator to do the job.

Apart from that, I do not think there is much can be done from buyer side.

Buyers should go to the liquidator....and seek liquidator proposal for this matter.

Yes liquidator should appoint surveyor to do the strata. Surveyor will do the documentation and plan signed by the liquidator.

Liquidator should have the detail of the land ex:
1. The land have charge or not.
2. Where is the master title
3. What are the quit rent amount.
4. If charge to bank how much the redemption cost.

Yes im agreed to appoint experience liquidator to do the job.

Every owner can appoint their own liquidator ?

Or the owners collectively appoint one liquidator ?