QUOTE(gks @ Sep 26 2022, 02:52 PM)
As long as developer has perform their duty, judge is right delay in strata ready is not the fault of developer and LAD shouldn't be impose. But, something missed because as per section 28@Schedule H, developer can apply for waiver for strata not ready upon VP. Also a question mark why bank is not releasing the sum that causing developer not to release the VP.
Anyway all the best if you intend to pursue the matter further with developer.
The whole reason bank not releasing the last sum of money is because POT (Perfection of Transfer) not yet done due to Land Office pasal, so developer use that as an excuse not give me VP.
Also, Judge use common sense to think that if that is a very good valid reason, then thats why tolak my LAD claim.
Then here comes the problem, if judge use common sense, then what is the whole point of having the SPA to begin with? According to the my SPA written inside, developer have to give me the VP no matter what reason after 24months, otherwise I can claim LAD from them.
I clearly understand from my point of view that this is not developer fault as developer did all their part to get it done, but late is late right? If bank can use common sense, then I also can use all sort of excuse to repay my loan, so no interest on me too right? too bad is not happening in reality what.
In my understanding is: Who wrong?
- use common sense, Land office.
- according to SPA, developer wrong
- according to judge, nobody wrong (tolak my LAD claim because u can't sue Land Office)
- according to netizen, Covid wrong
QUOTE(spectrum17 @ Sep 26 2022, 02:59 PM)
If Im in a right direction, POT is part of the owner/ borrower's responsibility to get the bank to release.
In order to prove the developer has done their part is ask for the request letter from the developer to the bank.
Otherwise is a debatable case.
Yes. You are 100% correct.
Developer did ask bank to release the last sum money but can't due to Land Office is so slooooooow. Everyone in the legal industry that handle this know how terrible their appointment slot for daily.