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Apr 2, 2021 · Pursuant to Section 8 of the STA, developers are required by law to apply for the titles within six months from the date of the issuance of certificate of fitness by the local council or such other compulsory circumstances as facilitated in the same Section of this Act.
If your property does not have a property title or strata title yet, then provide a set of all the documents of ownership including the present and previous Sale and Purchase Agreements (especially Deed of Assignment (by way of transfer)) and a set of all past and present loan documents (especially Deed of Assignment (by way of security)), if any.
Mar 12, 2021 · In Malaysia, strata property ownership can be categorized under two different forms, i.e. property with title (in the form of an ‘individual title’ or ‘strata title’) and property without title (commonly known as ‘master title’ property).
The simple process of selling a strata unit could turn into a nightmare just because of the non-availability of a strata title. Titles are an important dealing instrument for example when charging to banks for loans. When buying a secondary property without a strata title, many financial institutions might be reluctant to finance or even do not ...
Jan 19, 2022 · For a property without individual title or strata title issued, a Deed of Assignment (by way of transfer) is used to effect the transfer of the property. Is a Sale and Purchase Agreement needed if no money is changing hands?
Apr 20, 2020 · We often come across property owners who are not willing to perfect the transfer of the strata title for various reasons, including wanting to sell the property soon, that they have no time or have simply forgotten to do so, or they do not sufficient cash to proceed with the perfection process.
Aug 10, 2018 · In this article we attempt to address some basic legal issues which a property investor need to know when buying or selling a property. 1. The sale and purchase agreement. The Sale and Purchase Agreement (SPA) is a contract which embodies the relevant terms and conditions of the property transactions.
