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My parents house is under lease hold. Due for expiry in a few years time. The land is under my grand father's name. Should we change ownership now or after we renew the lease ? As we are not sure how long he is going to live. Please help.
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<en>David</en> <en>Wong Lai Kwong</en>
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Edward,
Changing the name and extending the lease are 2 different issues. Since it's under your grandfather's name but not knowing his age and the sensitivity involved, you may request him to initiate a transfer to a younger next of kin's name as a love gift.(to minimize stamp duty)while he can. Otherwise, a probate (with will)or letter of administration (without a will)will take some time to be granted should that situation arise. It may exceed the lease expiry date (few years?)of the property in question. To avoid this, it's best to apply for the extension of the lease and apply for transfer at the same time. Use a trusted lawyer to do this.
David Wong 0193330573  Maklumat lanjut
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