My father plan to transfer his property (leasehold landed house) to me as his age is catching up.
Would like to know what is the process and feed incurred?

Engage a lawyer for the transfer process. Standard legal fees rate applicable based on current market value. Can nego for discount.

In addition, require to pay 50% stamp duty based on current market value. Calculate gross, then less 50%.

In addition, state consent required because the title is leasehold.


https://www.lowpartners.com/malaysia-law-fi...uty-calculator/

This post has been edited by mini orchard: Feb 26 2022, 12:47 PM

Thanks for the info

TS, if immediate family member transfer, can consider Commissioner of Oath because the transfer it is simple transfer from father to the children.

https://www.pesuruhjayasumpah.com.my/perkhidmatan-kami/ - under category Sumpah Wasi dan Pentadbir

The small town's folks used to use the service from the Commissioner of Oath for the transfer of land sale MOT to avoid legal fees. It can be done, I have seen many are doing it previously.

If transfer from not immediate family, better engage a lawyer.

Sorry can tumpang this tread, my house under dad and my name and he wanted to change it all to my name as he is old. Whats the process like and rough cost involved? Property around RM300K now

1st, you have to make sure the properties is free from all encumbrances.

https://www.jkptg.gov.my/en/soalan-lazim-3/...use-of-a-lawyer

"All land transactions can be done without a lawyer depends on the consensus between seller, buyer and the bank as well.

For the land transaction of nothing in return (pemberian secara kasih sayang) such as from a husband to a wife, a father to a child or a mother to a child, the Form 14A can be signed (attestation) in front of a Registrar/ Land Administrator for free. After that, one must deal with LHDN/ JPPH for the purpose of land valuation to get to know the amount of stamp duty to be paid. Once the stamp duty is paid, presentation can be made at the Director of Land and Mines Office (for Registry Title) / Land Office (for Land Office Title) where the land is situated. .

Besides that, land transaction via cash payment can also be made without a lawyer. Otherwise, if the land transaction is via bank loan, the bank will normally request it is done by a lawyer."

https://www.selangor.gov.my/petaling/resour...sih-Sayang).pdf

You can get help from Commissioner of Oath to assist to fill up the document if you are not familiar, the cost will be minimum. The stamp duty on the transfer will get 50% waiver .

The standard rate of Stamp Duty will be applied.

Your current ownership 50% - no transfer = 0 cost
Your father ownership 50% of 300k, transferring the 150k ownership to you.

1st 100k @1% = RM 1k
Next 50k @2% = RM 1k

There are 2 options for the transfer :-

1) Transfer using Form 14A at Pejabat Galian & Tanah.
2) Surat Ikatan Pemegang Amanah (Trust Deed)

If I'm at the parent position, I'll go for option 2.

Thanks for the great info! Do you mind elaborate more on why Option 2 is better?

This blog gave the reason you was looking for.

https://hasbulbrothers.com/cara-daftarkan-n...gai-persediaan/