Asked by Anonymous
Hi, what is the procedure of property transfer from parents to sons?
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2 Answers
Greetings from Ohmyhome. We are an One Stop Property Platform. We have our legal team to advise you on the procedure. The transfer will be under love and affection. Even though natural love and affection is recognized in Malaysia, a formal written and registered document is still required as evidence that a contract has been agreed by both parties. We are able to assist you on this matter. You may contact or whatsapp us at 019-2665593
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The important procedure is to have a Memorandum of Transfer (MOT) presented to the Land Office and the required stamp duty paid if it is a transfer out of love and affection. If the transfer involves the sons getting a loan on the property then a friendly Sale and Purchase Agreement (SPA) and Loan Agreement needs to be drafted. Your appointed lawyer will be able to advise and assist you further.
David Wong (License No. E2097)
Mobile: +60193330573
Foreward Realty Sdn Bhd - E(1)1909 Read More
David Wong (License No. E2097)
Mobile: +60193330573
Foreward Realty Sdn Bhd - E(1)1909 Read More