MALAYSIA REAL ESTATE






Advertise Here 


List Your Companies Here  >>>    Post Your Property For Sale Totally Free (New) >>>

Realtors and Real Estate Agents - Sign Up for Free Account at Property.net.my >>


Download our Free Tool Bar for IE Internet Explorer



Malaysia Real Estate
Malaysia Real Estate Portal
 
 FAQFAQ   SearchSearch   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

How to transfer property from joint to single ?

 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> S & P and Legal Issues
View previous topic :: View next topic  
Author Message
v2_vehooi



Joined: 23 Jul 2006
Posts: 92
PostPosted: Sun May 04, 2008 11:44 pm    Post subject: How to transfer property from joint to single ? Reply with quote
I just bought a property and joint name with my brother... and now i was think to buy his share of this property, and transfer the property from joint to single. (right now, the S&P is me and my brother name, I want only my name of this property).

Last time I ask one of lawyer, she say the legal fees is based on the market value. I wonder who should responsible to check the market value? And what happen to the loan ? Is it possible convert the loan from joint to single ???

Thanks for advise Smile
Back to top
View user's profile
cynthusc



Joined: 16 Sep 2005
Posts: 310
PostPosted: Fri May 09, 2008 12:19 pm    Post subject: Re: How to transfer property from joint to single ? Reply with quote
v2_vehooi wrote:
I just bought a property and joint name with my brother... and now i was think to buy his share of this property, and transfer the property from joint to single. (right now, the S&P is me and my brother name, I want only my name of this property).

Last time I ask one of lawyer, she say the legal fees is based on the market value. I wonder who should responsible to check the market value? And what happen to the loan ? Is it possible convert the loan from joint to single ???

Thanks for advise Smile


Market value can be determined by a valuation. If you need a valuer please email me at cynandbella@hotmail.com

Before you do the transfer or valuation, check with the bank first. if the bank gives consent, only then can your brother transfer to you. Whether consent is given or not depends on your financial ability to repay the loan. If you plan to sell then don't waste time and money. Just get your brother to give you an irrevocable power of attorney and you can sell it to another.

regards
Back to top
View user's profile
v2_vehooi



Joined: 23 Jul 2006
Posts: 92
PostPosted: Sun May 11, 2008 12:42 pm    Post subject: Reply with quote
consent from the bank ? I dont get you, can you explain to me in more details in order to save money and can successfully convert the property from joint to my single name, same as the loan.
I think my financial status shouldn't be a problem Smile
Back to top
View user's profile
cynthusc



Joined: 16 Sep 2005
Posts: 310
PostPosted: Mon May 12, 2008 11:23 am    Post subject: Reply with quote
v2_vehooi wrote:
consent from the bank ? I dont get you, can you explain to me in more details in order to save money and can successfully convert the property from joint to my single name, same as the loan.
I think my financial status shouldn't be a problem Smile


the property is assigned to your bank for the loan so in order for you to deal with the property i.e. transfer the property from your brother to you, you need the bank's consent (write to them).
Back to top
View user's profile
yewkhuay



Joined: 11 Nov 2006
Posts: 74
PostPosted: Fri May 16, 2008 7:48 pm    Post subject: Reply with quote
how about add another name to the house ? same procedure ?

then can the 2nd name under the house withdraw $$ from EPF ? S&P need to hav 2nd name right?
_________________
Have a nice day!!!
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> S & P and Legal Issues All times are GMT + 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



This is a free forum intended to foster communication between all users.
Hileytech Sdn Bhd does not guarantee the correctness or validity of postings, nor does Hileytech endorse any postings. No posting or contents in this forum can be copied and reproduced without prior permission from Hileytech and the owner of the posting. All other names and marks are trade names, trademarks or registered trademarks of their respective owners.
Powered by phpBB, Another web site by www.hileytech.com,Forum Archive
Tel : +60-3-42978281 ::  Fax : +60-3-42978254 :: hiley@hileytech.com