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 House Purchase Concerns, Concern from governmenti

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me_1980s
post Oct 31 2019, 11:45 AM

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1) For your 1st concern, you need to read the land search/Title to confirm. Freehold/Leasehold is the tenure while restriction-in-interest is another thing you need to concern. The land can be freehold but at the same time can have restriction-in-interest. Restriction-in-interest is known as "sekatan kepentingan".

2) Why do you want to create trust? Normally trust is created for the purpose of holding the property for religion, children or ppl who contemplate they may be bankrupt (normally businessmen who has high volatility in income).

Is the property under Malay owner and you are non-Malay and there is a restriction-in-interest in the property?



me_1980s
post Oct 31 2019, 06:52 PM

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Seemed like you may not know the whole picture. Better get the father and son to seek a second opinion from another lawyer.
me_1980s
post Nov 26 2019, 01:53 PM

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QUOTE(JamesBotak @ Nov 22 2019, 01:57 PM)
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Bro, I've one very important question that I desperately need to know.

Let's say the purchase has took place, how do I find out whose name the house is really under and if they really had created the trust thingy?

Thank you so much.
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From your land search. If it's trust, the trustee will be "Pemegang Amanah" in your search.

 

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