MOT/MOC vs POT/POC
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 Aug 31 2023, 01:32 AM, updated 3y ago
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#1
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Senior Member
5,512 posts Joined: Aug 2011 
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Hi all,
I'm trying to understand the various costs to be factored in when buying an under-construction property, and there's something that confuses me. I've come across Perfection of Transfer / Perfection of Charge (POT & POC), as well as Memorandum of Transfer / Memorandum of Charge (MOT & MOC). Are these ultimately referring to the same thing? If no, when exactly will these be due/applicable? |
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Sep 1 2023, 01:04 PM
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#2
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Senior Member
5,512 posts Joined: Aug 2011
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QUOTE(DragonReine @ Sep 1 2023, 01:00 PM) POT is the process to formalize the change from Master Title to Strata/Individual title using MOT (Form 14A), so that the buyer is recognized as the new owner of their unit/property that's issued on the strata/individual title. Do you have to pay stamping fee for MOC if it was paid at the point of purchase?POC is to transfer ownership for an Individual or Strata Title using the MOC (Form 16A), to the bank who supplied the home loan to purchase the property, so that the bank is the owner of the property until the borrower has paid off the loan. To simplify it: POT/POC = the process/action taken MOT/MOC = a specific legal document involved in POT/POC But when tossing around the abbreviation in fees, POT/POC = the legal fees involved, while MOT/MOC = stamp duty for the documents  |
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