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Are all Leasehold landed properties required state government approval before the owner can sell them? Do the owner required to obtain such permission before putting the property on the market? How long would it takes to complete the whole selling process, 6 - 9 months as compared to 3 - 4 months for freehold properties? Thanks.
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Victor Lim
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<en>David</en> <en>Wong Lai Kwong</en>
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Although it is common that leasehold properties has a restriction in interest on the title that requires the consent of the State Authority to transfer, lease or charge the property, there are a few exceptions. The best is to look through the title deed.
This state consent requirement is only applicable to those properties already issued with individual or strata titles with the restriction in interest stated therein. Those properties without title deed issued that require the developer's consent to transfer are excluded.
The consent to transfer approval will require about 2 to 3 months and the consent to charge about 2 to 3 weeks.
So there is a likelihood that the whole transaction will complete within the 4 months period. Maklumat lanjut
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