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Transfer of title before property handover

 
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tkc



Joined: 13 May 2007
Posts: 250
PostPosted: Wed Jan 16, 2008 7:00 pm    Post subject: Transfer of title before property handover Reply with quote
Hi all,

Anyone know if I am planning to sell my soon to be completed house (maybe 6-9 mths' time), is it necessary to transfer the title to my name now? The S&P lawyer is chasing me to sign up for the MOT, of course with the stamp duty payment. The lawyer indicated to me that the individual title is out and it has to be transferred to my name before a 3rd party if the property is to be sold off later. Is that true? Isn't it better to have the transfer done after the handover, or better still after I manage to sell it off?

Last edited by tkc on Sun Jan 20, 2008 9:26 pm; edited 1 time in total
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cynthusc



Joined: 16 Sep 2005
Posts: 313
PostPosted: Thu Jan 17, 2008 11:36 am    Post subject: Re: Transfer of title before property handover Reply with quote
tkc wrote:
Hi all,

Anyone know if I am planning to sell my soon to be completed (maybe 6-9 mths' time), is it necessary to transfer the title to my name now? The S&P lawyer is chasing me to sign up for the MOT, of course with the stamp duty payment. The lawyer indicated to me that the individual title is out and it has to be transferred to my name before a 3rd party if the property is to be sold off later. Is that true? Isn't it better to have the transfer done after the handover, or better still after I manage to sell it off?


freehold or leasehold? If free hold can do direct transfer if Dev agrees but if leasehold, no choice must transfer to your name first.
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tkc



Joined: 13 May 2007
Posts: 250
PostPosted: Sun Jan 20, 2008 9:28 pm    Post subject: Reply with quote
hi cynthusc,

thanks for your reply. it's a freehold property. but if you mentioned 'if developer agrees .. ', can they disagree without any reason since my selling would be competing with the sales of the on going new phase?
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cynthusc



Joined: 16 Sep 2005
Posts: 313
PostPosted: Tue Jan 22, 2008 6:40 pm    Post subject: Reply with quote
tkc wrote:
hi cynthusc,

thanks for your reply. it's a freehold property. but if you mentioned 'if developer agrees .. ', can they disagree without any reason since my selling would be competing with the sales of the on going new phase?


as they only have an obligation to transfer to you and not to your nominee, they are within their rights to refuse
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