QUOTE(MaKiMo @ Aug 13 2014, 08:47 PM)
I would like to ask the members here about my issue.
The car I am driving now legally is under my sister's name, but she 'kuasa' to me and I paid off the last 3 years of the car loan (car is debt-free).
Recently she has problems with her business and she decided that she will declared bankrupt (coz the repayment of her business loans are around RM20,000/mth!), and she cant afford to service the loan anymore.
So the problem now is that she's telling me to sell the car off now before she will go to the OA. Can I instead transfer the car to my name? Will the OA be able to claw-back on this matter? My thank you for any useful advice...
As far as i know, legally once she is declared a bankrupt, neither you or her can sell the car. So i guess do it before the declaration is made.The car I am driving now legally is under my sister's name, but she 'kuasa' to me and I paid off the last 3 years of the car loan (car is debt-free).
Recently she has problems with her business and she decided that she will declared bankrupt (coz the repayment of her business loans are around RM20,000/mth!), and she cant afford to service the loan anymore.
So the problem now is that she's telling me to sell the car off now before she will go to the OA. Can I instead transfer the car to my name? Will the OA be able to claw-back on this matter? My thank you for any useful advice...
Sep 15 2014, 12:20 PM

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