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> Apartment Momerandum of Transfer, lawyer contigent fees

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TS779364
post Jun 26 2008, 04:18 PM, updated 16y ago

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Can someone please tell me what is contigent fees charged by my lawyer for the above service given by him.I bought a low cost flat and I was given a bill for the purported Momerandum of Transfer,stamp duty and contigent fees(refundable).What is the contigent fees and what does the word refundable means?Does it mean I can get back my contigent fees?

I bought the whole low cost flat with cash so I was given the strata title bearing the name of the developer.How long would the lawyer need to take to transfer the name to mine through the land office and most probably how much would it cost

Could someone please enlighten me

This post has been edited by 779364: Jun 26 2008, 04:20 PM
johnsonm
post Jun 26 2008, 04:23 PM

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contingent fees? that is something new. by definition it should mean that it is the "just in case" fees, so if it is unsued, it should be returned. but if i am not mistaken, lawyers can only charge you for actual charges incurred, and not anything that might be incurred.

if you dont mind me asking, where is your property?
TS779364
post Jun 26 2008, 09:06 PM

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QUOTE(johnsonm @ Jun 26 2008, 04:23 PM)
contingent fees? that is something new. by definition it should mean that it is the "just in case" fees, so if it is unsued, it should be returned. but if i am not mistaken, lawyers can only charge you for actual charges incurred, and not anything that might be incurred.

if you dont mind me asking, where is your property?
*
Its some low cost flat located in Perak.I rented it out
johnsonm
post Jun 27 2008, 09:18 AM

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why dont you just tell your lawyer that you will pay for everything on the invoice except for the contingency fee, and if any extra expenses do come up, they can call you and you will bank the money in. simple.
cblau
post Jun 27 2008, 09:26 AM

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I might be wrong but this contingent fee can it be for the stamp duty ? It might be the purchase price you paid is too low and they might value it to market price hence you have to pay higher stamp duty.
johnsonm
post Jun 27 2008, 03:50 PM

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for purchase from developer the stamp duty is based on the purchase price, and no valuation needs to be conducted by the valuation department, if i am not mistaken.
TS779364
post Jun 27 2008, 04:15 PM

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QUOTE(cblau @ Jun 27 2008, 09:26 AM)
I might be wrong but this contingent fee can it be for the stamp duty ? It might be the purchase price you paid is too low and they might value it to market price hence you have to pay higher stamp duty.
*
I already paid up my stamp duty when i purchased my property.I am just a little confused with the contigent fees which says refundable so I would like your opinions on this.Thanks guy for the reply

 

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