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> help needed regarding property transfer, my father is very ill

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TSxtorm
post Jul 17 2008, 07:51 PM, updated 16y ago

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my father is diagnose with cancer, few things i wana know as bellow

house - it is now under his name, get a lawyer and transfer name?
saving in bank - get him there to cash it out and bank it into my mums account?
cars - get the insurance agent to get it done?

the problem will be, when one is very ill, thier mind starts to think every one wants him dead, if some how he didnt sign any of the property mention above (im a little worry abt timing also, he cant really get out of bed now), what will happen and what can my family do to get it back instead of going to goverment (saving part)? btw can a bank send some 1 to hospital for signing the document?

help is much appreciated, me and my brother and sister are low salary family, his saving will probably help later. all i wish now i to take weeks of off day, but not possible at all sad.gif
mIssfROGY
post Jul 17 2008, 08:01 PM

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OKies...actually there r 2 things u can do.

To save money, get your dad to the land office to transfer his name to whoever. You do not need any lawyers in this..but the process can take up to 1-3mths and incase touchwood u know wat, the process cannot continue if it happens be4 the transfer.

Fastest way is to get him to write a will immediately. But this is expensive because, you need to pay for will writer, lawyer fees, etc and the amt might come up to few thousands.

But u better ask him to do either of these, because if he dont, then your relatives also can claim the hse, gotto pay tax to gomen if not mistaken and alot of headaches la. Process also takes very long.

This post has been edited by mIssfROGY: Jul 17 2008, 08:01 PM
b00n
post Jul 17 2008, 09:11 PM

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mIssfROGY had mentioned well.
He would still need to write a simple will and no need to be so specific.
i.e. he can basically mention in the will that his asset would be split between members of the immediate family equally. Thus he do not need to really specify who's name or what sort of assets etc.

Anyway regarding house, if there's no loan binding him to repay monthly than the process is like what mIssfROGY specified. But if there is than it will be tricky as you'll need to inform the bank on the transfer and refinancing under another borrower's name.

As for money, that's easily settled. Just withdraw all the money and put into your mum's account.

Car also need to transfer name. If no car loan than even easier. Just go to JPJ to endorse the transfer of name via the car grant.

Anyway my sympathy. That was what I advised my mum to do when my grandad was diagnosed latest stage of cancer in June. He never make it through even doctor gave a time line of 3-4 months. So money was taken out earlier and since previously we have planned to have joint account and fixed-d, so it's a more simpler matter as my mum is the co-signer. So even if he's in bed, we can still go get the money out.

House no choice have to go through will because not enough time to settle that.

Will you all the best of luck. Be strong!

This post has been edited by b00n: Jul 17 2008, 09:12 PM
cuebiz
post Jul 17 2008, 11:31 PM

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Writing a Will is essential in your case. Amanah Raya fees is as follows http://www.arb.com.my/arbwos/References/charges.asp

Transfer of name of the house also needs money. It depends on the value of the house. Usually, money paid out from life insurance is used for this purpose.

Besides, you may want to check if your dad EPF beneficiaries is updated. Closing of the safety box in the bank. Location of the life insurance policy.

Good luck

johnsonm
post Jul 18 2008, 09:38 AM

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xtorm, with due respect, i wish to point out that whatever was said above in relation to the house transfer is not entirely true.

first, in relation to the house, it all depends on whether the title (geran) has been issued, and also whether there is a loan on the property. if you can get this info for me, i can tell you what your next course of action is.

next, does your father have a will? if he does not have one, are his parents still alive? also, i assume your mother is still around?

in relation to the car, it will also depend on whether it has been fully paid up.

please note that most solutions involve your father signing a document, either a will or a transfer document.

the only one that does not, is if your father has not written any wills previously, then his property will go to his parents, his wife, and his children, in different shares (i have to check this up for you).

also, transferring the house now will involve the payment of stamp duty, but if it transfers by way of a will, there is no stamp duty. you might want to take this into account.

will writing is also not very expensive. my lawyer did a simple one for me (all my property to my wife type) for a reasonable fee.

pm me if you dont want to reveal your private details here.

be strong.
mIssfROGY
post Jul 18 2008, 11:42 AM

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QUOTE(johnsonm @ Jul 18 2008, 09:38 AM)

also, transferring the house now will involve the payment of stamp duty, but if it transfers by way of a will, there is no stamp duty. you might want to take this into account.

be strong.
*
Will involve stamp duty ark? Coz my dad's fren just transferred his house to his son few years back tho, only need to transfer name woh. I think it was couple of 10 bucks or hundreds. I think transferring name from parents to children is not the same as selling transfer??

So johnsonm, if lets say the property is a joint name where 1 died but left a will to give haf the property to his children while the other is still alive, no stamp duty involved? What about lawyers fees? Or can just go land office to execute the will?

Xstorm, however i m not sure about this coz this was wat told by my dad to me last time. He might have misunderstood his fren too. And ya...sorry forgot to mention about the complications of title transfer if there is still loan involve. Just write a will la.


johnsonm
post Jul 18 2008, 01:47 PM

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missfroggy, transfer from parent to child, or child to parent, or spouse to spouse, HALF of the full stamp duty is payable.

you cannot execute the will at the land office. you will need a lawyer or a will writer to draft one for you. if you are brave, you could draft one on your own, but this is extremely risky. for me, i wouldn't even go to a will writer. you can never be too safe when it comes to things like this.

so if the 1 joint owner died, and left a will, the property will be put into his children's name. there is a 3-4 month process involved here i think, and like i said earlier i am pretty sure there is no stamp duty.
TSxtorm
post Jul 21 2008, 12:23 AM

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everything happen too fast..

my father pass away last friday

house and car are being paid up.

there are some share too, 2nd board i think. my brother will follow up tomolo once the death certificate is done, according to 1 of my cousin, it can be done wihtout a lawyer?
cuebiz
post Jul 21 2008, 10:11 AM

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xtorm

Once a person dies, his assets will be frozen. There is no way you can withdraw anything with the death certificate except for insurance and EPF.

You need to apply for Grant of Probate if got will or Letter of Administration if got no will. You need to consult a lawyer for this purpose.

My condolence.
johnsonm
post Jul 21 2008, 10:16 AM

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xtorm, my condolences. alternatively, if you dont want to spend money, go to the land office where your house is, and they can transfer everything for you, including bank account.

this is much cheaper than seeing a lawyer.

once again, my condolences.
mIssfROGY
post Jul 21 2008, 11:07 AM

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xtorm, my condolences too sad.gif

johnsonm, what do u mean by "go to the land office where your house is, and they can transfer everything for you, including bank account."?
The land office can kautim for u without a will?
johnsonm
post Jul 21 2008, 11:09 AM

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Once again, I have to qualify whatever I say here with - IF I AM NOT MISTAKEN...

I think the Land Office can kau tim everything so long as the total of the estate left is less than a certain amount. It is certainly advisable for xtorm to go there before seeing a lawyer, as the lawyer would cost him money. If he has difficulty in the Land Office, then the only alternative is to see a lawyer.
TSxtorm
post Jul 21 2008, 01:54 PM

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yea, going to land office and see what can be done. heard 1 of my cousin who work in the lawyer firm say so.

if really canot be done then a lawyer is the only way.
cuebiz
post Jul 21 2008, 11:29 PM

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You can only qualify for Small Estate Distribution Act if you have the following criteria

1. Value of estate <Rm600K
2. MUST have at least One Landed property
3. Go to the correct Land Office

Fill in Form A. Cost = RM10

Need to get 2 witnesses (must not be relative)

Hope the info helps
TSxtorm
post Jul 22 2008, 02:57 AM

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haha low income family, sure less then rm600k smile.gif

house is under my father name, freehold

2 eye witness, ok will inform my brother abt tht,

thx alot guys, all info helps!
johnsonm
post Jul 22 2008, 09:11 AM

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cuebiz is spot on.
scorgio
post Jul 22 2008, 07:59 PM

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QUOTE(xtorm @ Jul 21 2008, 12:23 AM)
there are some share too, 2nd board i think. my brother will follow up tomolo once the death certificate is done, according to 1 of my cousin, it can be done wihtout a lawyer?
*
Get a remisier to execute the transfer ASAP.

As long as CDS was not notified about the death, the transfer can be executed.

Same for bank accounts, if it's a joint a/c, get the other person to withdraw the money ASAP. The accounts will be frozen if the bank found out one person had passed away.


TSxtorm
post Jul 25 2008, 06:52 PM

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my brother will handle all tht now.

it is all single name account sad.gif

damn... i miss my father alot. anyway thx guys for helping.


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