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Thread: Transferring of ownership, one unit of apartment at Sri Bayu Condo USJ 11

  1. #1
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    Transferring of ownership, one unit of apartment at Sri Bayu Condo USJ 11

    Hi all, I own an apartment at Sri Bayu Condominium, USJ 11. I have fully paid up the unit and just want to hear from those who have experience on transferring the ownership. Thanks.

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    there's no stamp duty on the transfer if you are tranferring to yr spouse or children. check with yr lawyer.

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    Quote Originally Posted by coleslaw
    there's no stamp duty on the transfer if you are tranferring to yr spouse or children. check with yr lawyer.
    Not sure about no stamp duty on immediate family.................my mum transferred her house to her children recently at the Shah Alam Land office....family transfer or "Kasih Sayang" category will have to pay 50% stamp duty and admin. fees based on the valuation of yr house(there is a printed table for cost of admin. fees)

    To save lawyer fees, you can do it yourself and its not difficult....some running around and the Land office staff in Subang Jaya and Shah Alam are very helpful and polite.

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    how long ago is, recently?
    i've did some paperworks done last month and my lawyer told me it's a very recent ,this exemption. maybe effective in september last year.
    i had a few people from ' pernilaian' at my place last week. they confirmed it is so. they have to collect data and present it to 'kewangan' on how much the govt will rugi with the exemption. so it might not be a long term thing.

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    If you are planning on selling your condo unit, you can save on the transfer and lawyer fees(which can come to several thousands) by arranging a direct transfer to the new owner. In normal circumstances, the lawyers would chase you to have the transfer done, which is not so much in your interest but theirs! I went thorugh that recently with my apartment. I don't know how long you can defer the transfer though, anyone knows?

  6. #6
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    Quote Originally Posted by coleslaw
    how long ago is, recently?
    i've did some paperworks done last month and my lawyer told me it's a very recent ,this exemption. maybe effective in september last year.
    i had a few people from ' pernilaian' at my place last week. they confirmed it is so. they have to collect data and present it to 'kewangan' on how much the govt will rugi with the exemption. so it might not be a long term thing.

    Did the transfered in June '08.....requested for free exemption but was told 50% is the rate given for parent to siblings or kasih sayang category.

    Even my lawyer friend says its 50% reduction at that time for this family transfer maybe the law changes after June'08 or i have been shortchanged.

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    Hi all, thanks for the info given.

    I spoke with one of my friends who own a unit of apartment in KL. He told me the Stamp Fees for an apartment with purchase price (based on S&P) less than RM300K is about RM5000.00. This is not inclusive of lawyer fees.

    He was fined for about RM6K because he did not transfer to his ownership from the developer within 1 year after the strata title was issued; he did the transferred about 4 years later. So, all in all he paid total about RM15K for the transfer of ownership.

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    Quote Originally Posted by coleslaw
    there's no stamp duty on the transfer if you are tranferring to yr spouse or children. check with yr lawyer.

    Coleslaw - no stamp duty payable only if transfer of property is done btw husband and wife or vice versa - pursuant to Stamp Duty (Exemption)(No10) Order 2007.

    however if the transfer of property is from parent to child/chid to parent, still need to pay half (50%) of the stamp duty payable calculated on that property - Stamp Duty (remission)(No7) Order 2002.

    Save for the above 2 categories - ie transfer of property btw spouse to spuse and parent-child, no exemption of stamp duty is in force at the moment.

  9. #9
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    Quote Originally Posted by rachel sj
    Coleslaw - no stamp duty payable only if transfer of property is done btw husband and wife or vice versa - pursuant to Stamp Duty (Exemption)(No10) Order 2007.

    however if the transfer of property is from parent to child/chid to parent, still need to pay half (50%) of the stamp duty payable calculated on that property - Stamp Duty (remission)(No7) Order 2002.

    Save for the above 2 categories - ie transfer of property btw spouse to spuse and parent-child, no exemption of stamp duty is in force at the moment.
    Rachel, how old a child must reach in order to be elligible to own a property? (I mean transfer to my child case)

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    Quote Originally Posted by PeterHng
    Rachel, how old a child must reach in order to be elligible to own a property? (I mean transfer to my child case)
    Pursuant to Malaysian law, the capacity for a person to enter into contract is 18 years old (except a marriage contract). Prior to that, you can transfer it to someone who could hold on trust for your child.

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    Quote Originally Posted by tehmc
    If you are planning on selling your condo unit, you can save on the transfer and lawyer fees(which can come to several thousands) by arranging a direct transfer to the new owner. In normal circumstances, the lawyers would chase you to have the transfer done, which is not so much in your interest but theirs! I went thorugh that recently with my apartment. I don't know how long you can defer the transfer though, anyone knows?
    Again, this depend on the practice/procedures of a particualr land office - I understand a lot of land offices now do not allow a direct transfer from developer to subsequent buyer (which was possible only in early 90s?) and developer also stop doing that for reasons to avoid risk of being held liable and responsible for any wrongful transfer if any disputes which may arise later.

  12. #12
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    Quote Originally Posted by rachel sj
    Pursuant to Malaysian law, the capacity for a person to enter into contract is 18 years old (except a marriage contract). Prior to that, you can transfer it to someone who could hold on trust for your child.
    Thanks Rachel. Got to wait another 6 years then

  13. #13
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    You are right about the procedures which vary from state to state.
    Mine was for an apartment transaction in Cameron Highlands which was under Pahang state.

    I believe there is a time frame for the property owner to do the tranfer and if he chooses to sell the property in the meantime, it's only logical that the property be transferred to the new owner direct and not go through two tranfers. I actually deferred the transfer for more than two years (and many reminder letters from the lawyer who I didn't even know and I believe I wasn't obliged to use) before I got myself a buyer. What liability would the developer be subject to and what dispute would there be, if any? I don't really know the legalities involved but I'm interested to learn.

  14. #14
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    Quote Originally Posted by tehmc
    You are right about the procedures which vary from state to state.
    Mine was for an apartment transaction in Cameron Highlands which was under Pahang state.

    I believe there is a time frame for the property owner to do the tranfer and if he chooses to sell the property in the meantime, it's only logical that the property be transferred to the new owner direct and not go through two tranfers. I actually deferred the transfer for more than two years (and many reminder letters from the lawyer who I didn't even know and I believe I wasn't obliged to use) before I got myself a buyer. What liability would the developer be subject to and what dispute would there be, if any? I don't really know the legalities involved but I'm interested to learn.
    Not quite sure about land offices' practices in Pahang...but surely not something that can be reasons logically if they insist to have 2 seperate transfer rather than direct transfer as this is something that fall squarely within state govt's purview and autonmy.

    Basically it's advisable that you effect the transfer out of property title into your own name once your property title is ready - reasons - once title is issued in your name, you then have indefeasible title and rights to your property and can deal (sell/charge/lease) with it legally.

    Legal fees shouldnt be a hindrance for you to effect your transfer timely - what if the title falls into some unwanted scams or is fradulently transfer out into some other persons name ? or worse still, if that somebody goes on to sell it to a bona fide buyer ? there is a case law which our court actually decided in favour of the subseuqent buyer in such case and the innocent rightful owner was deprieved from the right of getting back her property !

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