Hi everyone,

Currently, me & my bf facing some sensitive issue on buying property under both name. I would like to get some advise here. Let me share my problem.

My bf sister had pass-away and left the condo property under the name of my bf and bf-lil-sis.

We Planning to buy the condo:
The condo price is 220k.
Transfer the name under writing for me & bf

Problem
Need to transfer 2 times, Pass away sis name --> to bf & bf-lil-sis --> me & bf
1) Legal Charges issue. (the current property lawyer going to charge Rm6k per transfer)
2) the flow is not approved. (For me alone, i'm not able to pay for the installment)

How can we success to do the transfer? Please help and thanks in advanced.

This post has been edited by 8v!n: Aug 27 2008, 01:32 PM

here what you can do is to give it from the sister's name to your boyfriend's and his little sister's name, and then you can buy his sister's half share.

so, if the fees is rm6k just to transfer from your boyfriend's little sister to you, then that's very high. if it includes the transfer from the older sister's name, then i am not too sure.


no. 2 means the loan is not approved? if you and your boyfriend together cannot make the monthly payments, you will not get a loan, and the property might be auctioned off by his elder sister's bank. i suggest you consider selling the property before this happens.

if you don't mind stating here, how much are the monthly payments, and what is your combined salary?

To buy over the lil-sis half share also need to involve the legal work. So in that case, one question is, do my bf still can get loan from bank?

The 6k transfer fee is from the pass-away sis --> to my bf & lil-sis. As been inform by that lawyer, is discounted. But i would like to survey instead can get better and cheaper cost.

FYI, me & bf total income is 6k per month. In order, we still have our installment and some debts to pay every month. But calculated it most probably will approved.

maybe you should go see another lawyer to find out a proper procedure to transfer straight to you and your bf, and skip his little sister. at least this way it will be easier to get a loan as well. also, 6k seems a little high. you should get another quote for that as well. where is your location?

1. Does your bf's sis bought MRTA or any type of insurance to cover for the loan of Condo?
2. You say you & your bf plan to buy the condo... from who? Who owns the condo now?

Location is at Desa Petaling Condo. The selling price is actually 240k but since sell to his-self and me, then sell at 220k.

I'm trying to get my dad's lawyer, but the problem is, my dad totally disagree for me to buy that house, because he say will occur bf side family politic in future. I'm still considering should i just 4get about it or keep focus on that?


The bad things is no MRTA, coz 8 yrs ago doesnt popular with that issue. Now we suffering.

Owner of the condo is my bf sis (who passed away alr)---> legal inheritance by my bf and lil-sis.

1. Your dad does have his valid point. Are you and your bf considering marriage in near future? "Together" for long time doesn't guarantee will marry. Touch wood, when both of you decide to split... there will be lots of complication arises, legally and human.

2. Both your bf and his lil sis will need to continue to finance the loan, not "buying" from someone else.

3. Speak to the bank and consult a lawyer.

who is occupying the house at the moment? if it is occupied by your boyfriend's family, then i really do not recommend you touch it, unless you want to burden yourself with legal problems in the future.

our relationship are now verbally engaged and planning to the next level which is married. But those marriage proposal normally did by guy, so i cant ontrol. my parent advise us to go for register of marriage (rom) but i not sure what is my bf opinion. I'm still waiting his decision since he still facing financial problem.


Currently only my bf staying there. His family agreed to sell off the house and get the cash, so my bf can release from current debts and have some cash in-hand

I'm really thanks that you guys still here reading and replied to my problem. I'm worry that this problem will affect the relationship between me & bf and both family as well. As my parent side, they want to make all things clear and no doubts occur whether now or future. As same on me.

until you are legally married, i wouldn't recommend buying a house together. you should listen to your father. tell your boyfriend to sell the place, take the money and settle everything. then 2 of you can buy another house together to stay, once you are married.

i thinking of the legal term. Maybe once i confirm, i will post a thread to sell it.

u sounds more like know nothing. what is FLOW ?

FEW ISSUES RAISED:-
1. how old is ur so called bf sister ?
2. the condo successor name is your bf and ur bf sister ?
3. u and ur bf wants to buy the house from ur bf and ur bf sister?
4. how pld is ur bf sister ?
5. u are not eligible for the loan, and why u are the one apply the loan not ur bf since your salary is under requirement?

this basically is ridiculous question.

Listen to your dad.

Dear cactus1,

I'm first timer to buy housing property, and dunno those legal stuff or housing procedure as i'm more likely in ICT + media line.

To reply ur question:

Me & my bf is 25 y/o, bf lil-sis is 24 y/o, owner which the sis had pass-away is in early 30s.

the condo beneficiaries to my bf & bf lil-sis

The flow we plan is [pass-away sis]----> beneficiary to [my bf & bf lil-sis] -------> buy over [me & my bf]

Me & bf definately eligible to get loan. As for this mean time, my income is more than my bf. We both plan to get the housing loan. But of course, since bf got lil-financial-problem, so that i need to pay more. But, i just worried, one day i cant fork out more money then wat i plan now. Plan this because once we got our own house, then can get married.


Is this silly thought that i have? Or i act too much instead to get married?

I assume you're non muslim. Have you thought of marriage registration 1st?
Once both of you are "legally" married, it will make things easier.
Your father does not want you to "rugi", and so does we here who r trying to give you advice.

I'm chinese Amen..

I'm daddy girl..

I love my bf. So trying to help him to get the condo. As from our point of view, if we buy over, we save alot which now the house alr got. Including 10k for simple reno, more than 10k of house furniture and electronic stuff. Nice view of KL city. olympic size swimming pool. If buying new condo, need to wait till it complete.

As summarize, is actually worth it, if we can strive to get the condo. Just whether good for me to do it or not. Anyway, really appreciate for all advise. I knew everyone is trying to concern be the neutral adviser.

Still in consideration.

It's your choice.
Anyway if you choose to go ahead, you can try and refinance with cash out, that way you can get extra cash to hold your wedding ceremony.

firstly, i am not interested with your personal issue which regarding u and ur so called bf.

the answer is pretty straight forward. ur bf sister is more than 18, legally, she can decide the management of assets from inheritance. get a solicitor to transfer the name from ur bf and ur bf sister to u and ur bf.

done.

bare in mind that, the existance of more than 1 name in s&p is a lot more hassle than one single name.

secondly, if the property is still under loan, then, the scenario will be slightly different.

lastly, as what other forumer said, u are just a 25 years old, and u thinking of buying the property in the join name with the bf, which is quite silly.

I'm not a lawyer but I'm thinking maybe you just need to transfer the property once.
If I'm not mistaken, the title or S&P is still under 'elder sis', and your bf and 'lil sis' are beneficiaries through will or something. I think it should be possible for 'lil sis' to relinquish her rights to the property. And you could check with lawyer if she could reassign her rights to you instead with cost (I don't see you mention this anywhere... why?). Also the property loan is under whose name?

On the 6k transfer fee, ~3.5k is probably for stamp duty. You should get a breakdown on the 6k for better understanding.

Frankly I don't really see the need to have your name on the property and/or take marriage into the situation, both are not the true issue which is your bf's financial situation and secondarily your financial situation.

Your bf actually inherited a debt unless it is sold off in which case there might be some cash return. If your bf just need some help for a couple of months, it's no big deal to help a little, and let him pay back later. If he cannot sustain the property on his own, then perhaps it is better to sell it off. There's always opportunity to buy another in the future rather than to get saddled with too much liability.

the boyfriend's little sister can directly "sell" her half to you with a court order, depending on the contents of the will. then there is no need to transfer twice.

actually, if you want to find out more, you could also pay a visit to the land office for some free advise, if you are lucky enough to find someone helpful.

that's nice to know, thanks.

why so concern about RUGI thing? have relationship problem very offen between you and ur bf like angry, mad? Family problem? how long the relationship? stable? if everything are good, why you so worry about? or you or ur bf are playboy or playgirl?

I thought it is MALE vs FEMALE are same LEVEL now?

Since the property are under both of your name, why not go ahead?
That property are under 3 of your bf family, your bf should receive 1/3 sale price, right?

RM220k/3 = RM70k+, mean that your bf can pay some advance which is he can pay less montly installment for few year and you can pay more than him, right?

Legal fee, everything can arrange once, your bf family can set the property selling price less, like RM220k set to RM180k or as less as possible but not less than you want to get housing loan which is 10% more than loan.

Example: if you want get a housing loan is RM160k, mean you need to set the selling price RM176k. other you pay back to your bf and ur bf family by cash.
That will save you SPA(s&p) cost.

Regarding Loan agreement, too many type offer in the market. Like ZEC, and non-ZEC.....

Another thing is you can save a lot money like 20k cheaper and some reno cost in the market price.
Just thinks about it!!!
Anyway is a good move in order you and your bf are stable and good future plan.

hope can help.....

This post has been edited by eagle.ng: Aug 29 2008, 08:54 PM

married then get the property

I suggest your bf not to accumulate more debts as i see this house as a liability more than an asset (Unless fully paid up or it is generating income monthly)

Well, first to say sorry that this might be long reply.

I'm letting my bf decide, coz i dun1 to c him just take my action for granted. If he plan all this for house and wedding ceremony is totally his job. I'm here just to support whatever he want to do. Anyway, will take ur advise. Thx ya.

Yeah, the transferring we discussed with the current property lawyer. The issue is ~RM6k per case transfer. I'm realize that, is actually same charges as i'm buying a new house. So, y i still need to take this current condo, instead myself can buy a new condo. I'm taking my off my hand and let my bf to decide and plan. Coz...i'm just merely a GIRL-FRIEND.


Alwiz there is a charges when go to the process name of transferring. I got the breakdown which i think a little overcharge too. The list still with bf.

The property loan is under the elder sis. Apparently, the plan is me & bf will buy the property by getting loan. Then, once loan approved will pay off the debts inherited my the elder sis. So there is no longer debts frm elder sis. Then the balance of money my bf have, will pay off his personal debts, and half for his lil-sis and his parent. So finally,. . . the property is fully, me & bf name.

The points to get this property is, we get a house and he settle his debts. But in order to keep the house, only my bf is not affordable, so need my help. When i'm involved, of course i need a black & white to make sure that is my property too. What if one day (*touch wood*). . .my bf dun1 me anymore ... i get nothing.


Thanks eagle.ng, your advise really appreciate. My relationship so far so good. My family is very concern for our marriage. But his family side never mention our marriage and yet more happening for divorce case, just mean his brother and sister on that case. But yet, i believed if we are strong, we will have happily ever after live ( that's actually my childish and fairy tales dreams )

To make sure once i got married, i got a house and no more debts, i need to step out and help my bf. That the sacrifices the lady need to do in order to get a better life. I know some other lady's no need to do so many things....just find a rich guy and happily ever after. But, i'm not that lucky.

The pricing will reconfirm, if my bf family agreed. But anyway, i really wanna see my guys put more effort to get this house. For my part, i just only can help on financially which i'm still afford.

This not just that easy.

As i just mention, once sold this house to me&bf, my bf will get the money and pay off his debts. This is the process that we want to get the house. I'm personally hope that this house really can sell of, whether to me & bf or others. Coz i really want my bf debts settle.

I gather from your answers that your bf can just have the house sold and the money gain would be more than enough to repay his personal debt and no strings attached.

If you and your bf 'bought' the house over, you just transferred the debt into you and your bf's name --> that's why I said you guys inherited a debt. Whether or not you guys should commit to the house for the next 20 years or so is really up to yourselves. It's not just about your relationship and marriage. It's also about being financially wise and planning for the future.

Offhand I would say it is better to utilize a housing loan to cover one's personal debt, but he must know what he is doing.

tgrrr, should i not say inherit the housing debt. . .as my bf sell the house(the money he get, half of it settle the house loan, the rest cash). . .and me and bf buy over the house (is like get a new house for us).

Have a house and get loan which i not agree for the word 'inherit debt'. Is ur personal house loan and you get ur personal property. Sorry no offense to shoot u. . . just share it out =p

And that's why, now trying to strategies, how to play this game. Should i involve or not?

Well the obvious question is does your bf have the same financial thinking and willingness to commit as you are? You'll need two to clap to be successful in this game.

And about the debt thing, I view a house that doesn't generate income as liability but it's more a matter of personal POV (point of view) and so no offense taken.

Uhmm. . . . i decided to handoff.

Since there is no planning from my bf. He just cant stay focus.

The things i can do is encourage him to sell off the house asap.

If decided to rent out the property, can the rental cover the loan? Further more since it is fully furnished, should be able to fetch a higher rental.
If yes, would suggest to keep the unit. If no... just sell off la.

rental is probably not an option as they will still have to get a loan to take over the sister's loan... and then what happens if you cant find a tenant for a few months? too risky.

If you can't find a tenant for a few months, what's the probability you'll get someone to buy your house in few months? Don't forget, the legal procedures will take months to complete before the new buyer can take over the condo. So in terms of time, both will come up to the same.

If the potential rental is more than loan payment, then can consider it as an investment.
- No downpayment required.
- Just continue to service the loan, not necessary to get a loan to take over sister's loan. (Need to negotiate with bank).

But TS has stated she'll leave it to the bf to decide/handle, we'll just wait n see.

Thx that a good solution if the house not yet sold out. Will ask the buyer to rent the house 1st before fully transfer. But no confirm buyer yet. And the condo price dropping. Because is more likely to resort condo.

So, you & ur bf hv decided to buy new house?
I wish ur bf can rend a room instead to rend a house. Because rend a house is more expensive and almost same like you buy a new house for installment. Anyway, it is depend the location too.
You may think to buy your new condo (under your name only, since you got purchase power) since your parent and your bf parent not much agree to put under both of your name. By the way, you should understand better why your bf get into too much the depts? Is it bad habit or other? Just protect yourself.

but once your done this, your bf might not happy on this....might have a better dicussion.

This post has been edited by eagle.ng: Sep 4 2008, 09:35 AM

Jz my wild guess the condo you talking about is Amadesa condo DP?

I agreed with tgrrr on house is a liability unless its generating income monthly.

Best thing is start selling now, market is weak.

You are only that guy gf la..stop dreaming.