AskGuru Q&A Community

Make confident property decisions with advice from our experts

Asked by
I am a foreign national & I have purchased a condo In Kuala Lumpur (Mont Kiara) for RM540K The total payment was finalised in April 2013. During this time, the base amount for a foreigner to purchase a property was RM 500K. The MOT and other necessary documents were submitted to the KL Land Office by April 2013, for strata title transfer. However, till now the strata title transfer shows PENDING at the KL Land Office. My lawyer tells me the reason for the delay is two fold. Firstly, when I purchased the apartment, the strata title was still in the name of the developer. The vendor had yet not had it transferred on his name. So there has to be a simultaneous double transfer at the land office - from Developer to Vendor & From Vendor to Me. So the double transfer takes some time. Secondly, I am a foreigner. So strata title transfers are more complicated when foreigners are involved. Has anyone experienced this delay in Strata Title Transfer before?
0 •
1456 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

<en>David</en> <en>Wong Lai Kwong</en>
Replied
Dear Mr. Rajiv, We have experienced this situation with a few properties in KL especially newer properties whereby the strata titles have just been issued. It is a situation that affects both local & foreigners alike who are the subsequent buyer. Rightfully, the Vendor (seller) has to pay the stamp duty and register the property under his/her name first before selling to you. However, you may agree to buy the said property by paying 10% upon signing the SPA subject to the conditions precedent that the Vendor has to fullfil. Some land office do not allow two transfers to be done simultaneously. The seller has to apply to transfer and register the strata title under his/her name first which will usually take not more than 4 months before handing over the strata title to your lawyer for subsequent transfer to your name which will take another 4 months. If the double transfer is allowed then it should be even faster than the projected 8 months to do both the transfers separately. As long as a registrable strata title is not handed to your lawyer for presentation to the Land Office then the full payment of purchase price should not be released to the Vendor. Because of the delay and a new regulation is effective 1st January 2014, it might have an impact on your transfer. The land office in KL is usually very efficient to inform the lawyers of the outcome of the transfer. I presume you have hired your own lawyer to advise and help you on this matter and not use the Vendor's lawyer who may favour the Vendor. David Wong Principal QUANTUM real estate www.quantumrealestate.com.my Read More
0
Upvote Upvoted

Still looking for answers?

Get advice from our community of experts

Ask Your Question
Previously Asked Questions