100 Singaporeans in legal dispute over condo purchases in JB

FMT Reporters
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25 Dec 2024, 08:34 AM
They claim the developer was not upfront on the sale terms and conditions.

PETALING JAYA: At least 100 Singapore house buyers are locked in a legal dispute with a Malaysian developer over the ownership of their properties, CNA reported.

The news portal said the buyers claimed the developer was not upfront about the sale terms and conditions.

It said property lawyers were now urging buyers to read the fine print and engage local agents better aware of local conditions before purchasing properties in Johor.

CNA reported that Singaporeans were among the top buyers of properties in Johor Bahru and this had seen prices of condominium units jump 30% in the first three months of this year.

About 170 buyers have set up a WhatsApp group to pursue their case.

They said they bought properties as a weekend home and for investment for as much as S$275,000 (RM907,280).

They were shocked when they found out they had bought the homes under a scheme called a private lease scheme (PLS) which says they are buying a lease for 99 years.

This is more like a rental agreement under which they do not actually own the property.

The developer is the actual owner and the buyers are tenants and must seek permission if they want to rent or sell.

A lawyer interviewed by CNA said under PLS, the buyers do not obtain strata titles and only get a long rental lease. They also do not get voting rights to select the committees to run the condominiums.

If there is any legal dispute, creditors will go after the land to the detriment of the lessees. The value of property may also be affected, the lawyer added.

Developers argue the PLS is valid and the buyers have passed the legal period to take action.


https://www.freemalaysiatoday.com/category/...RWRUBGGIgwxJvwA

Wow wtf

Yini machem pun ada kaa??

PLS....

ah....

so we learn from south korea, the best korea

As usual foreigner is normally not fully protected under the law. They didn't read the term and conditions before buying.

Which project?

Wow...which conman developer is this?

Search around hwz and news, still dint figured out which project.

Iskandar Residences in Medini Iskandar Malaysia (MIM)

But but.. None of them read the terms and conditions?

The mindset of 3.5 exchange rate...

wah got such thing. sue the company to death

Too much money.. Close eye buy maybe?

Good

S$275K for 99 yrs worth it loh... car coe also 10 yrs only.

i bet when they come to buy that time all chirping "cip cip cip cip"

Very long article.dunno If is this same case or not
Go read yourself.
I donwan /k comment WOT

https://www.aurelle-of-tampines.com.sg/buye...elated-dispute/

This post has been edited by niwde: Dec 25 2024, 09:58 AM

More like being conned by developer/agent🤭😂🤣

gov appruv this scam is it

If it is modified as they said post signatory, then it's really an issue.

Plus only scammers say such thing as past the legal timeline. It's similar as putting up a sign you can kill people in your home with no regard of the law.