Asked by Anonymous
Hi, if i bought a commercial property in May 2015 and got bank loan on that time also. In the S&P it is mention that the VP should be 48 months calculate from S&P date or Building approval date in the case which date come later.
Question1- the Late handover payment (LAD) date should be calculate from the date of S&P or the the stamping date in the S&P (assuming that the Building approval date is before S&P date)?
Question 2- (the important question that i want to know) Since the LAD only can claim after buyer get VP from the developer, so if the project suddenly stop construction in next year, what can i do? What is my right in this condition and what should i do?I still need to pay the installment to bank? What department from government or anywhere that i can complain and get back the money that i had paid for the installment since it is a commercial project? Malaysia have any Law or Act to protect commercial buyer?
Question1- the Late handover payment (LAD) date should be calculate from the date of S&P or the the stamping date in the S&P (assuming that the Building approval date is before S&P date)?
Question 2- (the important question that i want to know) Since the LAD only can claim after buyer get VP from the developer, so if the project suddenly stop construction in next year, what can i do? What is my right in this condition and what should i do?I still need to pay the installment to bank? What department from government or anywhere that i can complain and get back the money that i had paid for the installment since it is a commercial project? Malaysia have any Law or Act to protect commercial buyer?
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