hi all, I have a low cost apartment in Selangor, wish to transfer to my sibling for free, the apartment market value is about 100-110k I assume, I have read through many article both confirm that transfer between sibling are entitle to full stamp duty, I am ok with that. The problem is my sibling and spouse are quite wealthy, probably won't comply with low cost consent rules. But due to my mother need me to do so, I am into a headache now to finding a way to proceed this transfer.
I heard that the possible way is first I transfer the apartment to my mother under love and affection rules, so the stamp duty can be exemption, and the low cost rules seem not apply on transfer between son and parent. So only legal fees we need spend, 2 times legal fees to be exact, I transfer to mother, she then transfer it to her daughter (my sibling). each legal fee might cost 3k, even though I think this is the most stupid act in the world....
The thing is my mother won't let me to sell it so the cash can given to my sibling, this seem the most cost effective way in the moment, she believe this apartment will increase lot more value in the future, so that in the mean time I need to manage this property with full responsibility, need rent it to correct person, make sure they not doing illegal thing in the unit, pay the management fee, do the repair work when necessaries, I even have to pay income tax on the collected rent, while all rental goes to my mother.
But this apartment is intended to transfer to my sibling, I really don't have the effort and intention to keep manage it, I wish to get out from this in few year time, I wish you can teach me what is the best way to doing it. TQ.

why don't you sit down with a property lawyer and get their advice instead of guessing here..

If it is you that is going to manage the property, I suggest better leave it as per current status.

After spending money doing the transfer, then your sister sell it after register in her name 😭 .... because she don't want to manage the property.

Can I say the property belongs to your mother but register in your name ?

Yea, we verbally agreed long ago that this is her belonging. Becos this apartment at the end won’t be mine, I dont want to bear the responsibility to manage it, as you may know how much headache to do it alright…

what do you mean by wont comply with low cost consent rules?
if this low cost has completed the period, you can transfer to anyone regardless right? if it havent completed the period, u just cant transfer to anyone period.

Hi may I know what the meaning of “complete the period”? I’m pretty sure definitions of low cost properties is the entire period of it lease hold. So it can’t transfer to person who didnt fits the requirement set by state government.

as per AI
In Malaysia, transferring ownership of a low-cost house (RMMJ/Affordable housing) typically involves restrictions, including a holding period of 5-10 years and the need for state government approval for certain transfers, along with stamp duty exemptions for first-time homebuyers.

Here's a more detailed breakdown:
Restrictions on Ownership Transfer:
Holding Period:
Low-cost properties often have a restriction on transfer within a certain period, usually 5 to 10 years, depending on the state and specific circumstances.
State Government Approval:
Transfers of ownership may require approval from the relevant state government or housing authority.
Eligibility Criteria:
The new owner may also need to meet the same eligibility criteria (e.g., low-income earner) as the original buyer.
Purpose of Housing:
Transferring ownership to someone who no longer qualifies as a low-income earner or someone who already owns multiple properties might conflict with the initial purpose of such housing.

my understanding was just a time-lock over there as requirement.. i didnt know after time-lock will still need to follow ownership criteria or not

This post has been edited by pysh: Mar 19 2025, 09:59 AM

I afraid this is not time lock ... the 5 years restriction only for Real Property Gains Tax (RPGT), so selling after five years don't need to pay this tax, but other restriction still remain, Thanks for your input

nope, i'm not talking about RPGT.. i dont care much about RPGT as you're transferring between family and you said your brother is wealthy..
u cannot transact a low cost property within 10years to protect the interest of scalpers

Subsequent subsale buyer for low cost / affordable housing must follow the same tnc as per the first buyer.

Another point to note if the property is in Sgor is that if the first owner is a non bumi and subsequently sold to a bumi, it auto become a bumi lot and transfer to non bumi is not allowed.

This post has been edited by mini orchard: Mar 19 2025, 05:45 PM