We hav been given a house, but that’s under his father’s name.
How is the procedures to transfer the name from the father to son? Is that possible to add son+son’s wife name ?

I heard transferring a properties to son is cheaper than adding the son’s wife name. How much will that cost on the transfer fees on a landed leasehold properties cost around 200k. Kindly enlighten me.

transferring to the son alone is cheaper, as you get half stamp duty. stamp duty for a 200k property is 3k. so you only pay 1.5k. if the son's wife is in the picture, i think the stamp duty will be 2,250. not too sure though. better check with a lawyer.

legal fees consent etc let me look up my records see if i have something similar to help you estimate.

by the way, it is also relevant to know which state the property is in, and whether it is still under master title or not.

johnson,
thanks for enlighten me.
wat do u mean by master title. Its a leasehold property and already paid off located at pandan indah.

roughly, how much will the total will cost?

master title means a few houses are held under 1 title. individual title is your house has its own title.

if your individual title is out, legal fees for agreement is 1850, fees for consent is 300. total is 2150. there is a 5% service tax on this which will bring it to 2257.50.

then there is stamping which is rm40, search is 60, the consent charges are 150, stamp duty is around 1500, misc will come up to 200 or so.

so all in you should set aside about 4300 or so. i might have missed out some stuff.

it is important to ensure that the market value you are quoting above is the correct one as the stamp duty will be based on this.

johnson,

thank you very muchiiii...

This post has been edited by choongjoey: Aug 27 2008, 03:16 PM