Malaysia Real Estate

[xinfull]

Hi everyone

I got a few questions regarding Perfection of Transfer for strata title of my apartment.

1. Duration. I was told it would take approx 3 motnhs to complete. It has been > 4 months since I engaged the lawyer and paid the legal fees in full.
Is this normal?? How can I press them now? They keep saying pending etc.

2. Charges
There were 2 separate charges that I had to pay. One is Perfection for Purchaser. Apt cost RM185k, total fee came to RM850. That's fine.
Another one was the Perfection for Borrower.
This came to RM720.
I just paid this but can I challenge this with the bank??

Thank in advance to all ...

[reeverbot]

hi xinfull


regarding your 1st question, i must say that waiting for the title, whether the strata or title for the landed property do takes alot of time. they may promise within half a year but the land office processes too much application and they need time. so rest assure xinfull, in time you'll have your title.

and bout your 2nd question, am sorry cuz i cant help you. never heard bout that case before


sincerely,
reeverbot

[hfchuraymond]

I think you could be hoodwinked.

First, the Perfection of Transfer is a mandatory obligation to be completed within three (3) months from the date of the Memorandum of Transfer.
Once this period of time is surpassed, a late penalty fees will be incurred by the land office.

Nowadays, even extracting titles late from the land office after seven (7) days of issuance from the land office can be penalised. What more, if the Perfection of Transfer is delayed after three (3)months.

As for the legal fees for both Perfection of Transfer and Perfection of Charge, actually, the accorded fees is within RM350. Anything more, is subject to dispute and your property is below RM200K. Just imagine, how much more monies to be paid for the same type of work for signing on two documents, form 14A (for transfer) and form 16A (for legal charge) for properties worthed twice that amount ?

Very unpredictable, in my opinion and you probably may think of a number to call already. Please don't quote me as I am also a legal practitioner with a conscience.
_________________
RC

[Lord Aragorn]

Straits View Residences is the first strata landed property in Iskandar Malaysia. Moving forward, I think there are going to be alot of strata landed property launches and more people asking about strata title transfer