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 House Purchase Concerns, Concern from governmenti

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mini orchard
post Oct 31 2019, 01:52 PM

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QUOTE(JamesBotak @ Oct 31 2019, 01:42 PM)
Thank you for the explanation. I really appreciate it.

1. To be honest, I never knew that there is such restriction-in-interest before. This is the first time I've come across this. How do I find out if restriction-in-interest applies to this land/house? It it written it the geran or something?

What else do I need to know regarding this restriction-in-interest?

Is it normal for the approval to take about 2 months? Can't make it any faster?

2. To be honest, I've also never heard of this trust thing before. It's just that based on the family situation right now, the lawyer suggested to create this trust.

The situation is such that the father wants to buy the house for the son but the house can't be placed under the son's name. It can only be placed under the wife's name (wife of the son) but the father doesn't want the property to fall to the wife's family if anything happens to the son.
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There is this famous saying ...

Want the grandchild but not the daughter in law.

Just rent a house for them. Why all the legal complication.
mini orchard
post Oct 31 2019, 02:26 PM

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QUOTE(JamesBotak @ Oct 31 2019, 02:11 PM)
It's too complicated. I don't know why this is even needed in the first place. In fact, I was surprised that the lawyer suggested this thing because the family didn't mention anything about this.
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If the father dont tell the lawyer, he just cannot proposed something out from nowhere.

What happen to the son's status? Bankrupt? Paying cash for the purchase?

Just say what you know all so we can offer some solution. After all we are all masked in this forum.

This post has been edited by mini orchard: Oct 31 2019, 02:46 PM
mini orchard
post Oct 31 2019, 06:04 PM

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QUOTE(JamesBotak @ Oct 31 2019, 05:50 PM)
Thinking about it again, yeah the father might have told the lawyer something that made him came up with that plan.

Son is non bumi. House is bumi lot. Yes the father is paying cash for the son.
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Why that house?

So many properties in the market now.

If buy non bumi lot can he register in your name?

This post has been edited by mini orchard: Oct 31 2019, 07:16 PM

 

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