ASKING SEAN
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- čas přidán 20. 07. 2020
- In this episode, we will address a question regarding the strata title and MOT. The difference of the Strata Title Act and Strata Management Act would be the time of issuance of title. Even without the title, there are still ways to transfer the ownership for the property.
As for MOT exemption, there's some government initiatives but it's only applicable to property of a certain budget. And some property developers are not participating the HOC (Home ownership campaign), hence buyers need to pay their own MOT and loan fees.
Good and informative video as always,Sean! Congrats to both on your first purchase! Anyway, I am sorry to say that, obtaining a Strata title is definitely not within two years’ time frame. And obtaining the latter has no effect on conversion of tariff from commercial to residential and vice versa. Only the owner of land can apply for such a conversion. The Strata law states that Developer is given a 6 months’ time from date if issuance of VP to submit application for subdivision, which you may want to set that as a reminder to gauge the time needed. Another reminder, since its in Selangor, be prepared for a hefty “Quit Rent” (which they have another term for it in Selangor-parcel something). Great content, once again!
Thank you Sean for your clear explanation pertaining to Strata Title n MOT. 👍👍 I hope all future property buyers will see your videos to give them a better understanding before making a purchase.
Thanks for watching Vanessa. Do share the channel around your friends yea=)
An excellent presentation. There is probably a grey area, or my hair also turning grey over this (joke). Anyway, I would like to sincerely ask this... Does the Residents Association (RA) have powers to impose on every resident to pay monthly maintenance fees, even though residents didn't sign an contract/agreement with RA? Previously, the residential area has no RA and recently the community established an RA and started guarded system. Kindly enlighten the legal power of such newly establlished RA over strata (with strata title) and non-strata (with individual titles). Truly appreciate an explanation on this matter of concern.
Bought a low cost flat about 25 years ago. Was lucky that the developer managed to complete it. VP done. After that developer became bankrupt.Till today no strata title. But life goes on. The flat is well managed by the management. currently, i am renting out the unit.
Thanks alot,can you make reviews about Bangsar South and Cyberjay
Hi Sean... if I am not in hurry or no intention of selling the property can I delay further the transfer of strata title ? Any penalty if I delay ? Is there a price different of MOT on freehold and leasehold property ?
Well presented. Thanks Sean!
Glad it was helpful Ken=)
What if we couldn’t reach the liquidator? How can we do
keep up the good work.......
Appreciate the encouragement Mielan=)
👍
You may not want to worry about ST so much. You will need to standby money for completion of transfer of ST from dev to purchaser.
Yupe yupe=) Thanks for sharing Justin.
Really Huge discount for 10kinrara, i believe the launching price are way higher ;)
Yupe yupe... you're right!! It's so exciting=)
I believe you meant DOA (Deed of Assignment) not PA (Power of Attorney) :)
Hi Sean. I am renovating my strata title townhouse in sri hartamas. I am having end lot however, I am facing lot of problems from my downstairs neighbours which he do not allow me to hang my air con compressor outside my windows. Appreciate your advise
Shawn, a quick question, lets say my property has not obtained strata title yet but I am about to sell it, and during SPA initiation with sub sale buyer, I get notice to perfect strata title of the property, what should I do?
Hmm. So pls consult your lawyer whether the developer is willing to do a direct transfer to the new owner instead of you. If cannot then you’ll need to pay once, the new owner will pay again for the transfer.
Hi Sean, have you think of reviewing Brem Holding properties?
Any property also I would be interested in reviewing hahaha=)
Can an owner with separate individual title, not pay monthly maintenance in a gated & guarded place?
Just for clarification, does this mean your neighbourhood is installed with the guard post and gate after the houses are completed which is governed by Rukun Tetangga?
1. If it's individual title, yes you can not pay. But it will disrupt whatever the residents are trying to do, which is usually to improve security for everyone.
2. If it's an official gated & guarded, which means it's strata titled, then you are obligated by law to make monthly payments.
Hope this clarifies Susan=)
@@iherng Does installing guard post & gate, automatically means, the entire community including land with individual titles, have to follow the gated & guarded rules (esp to pay monthly service fees). So far, only local residents' association (RA) has been formed, but yet to take over from developer regarding maintenance. No Rukun Tetangga yet to be established, todate.
I like your lecture mode
Hahaha. Thanks for watching Gwen!!
What if when the developer went bankrupt and the unit is still under master title???😥
That’s the worst case scenario. The transaction process will take way longer and this might cause banks to not finance new buyers for the project.
Hii...i'm confuse about the residential strata and commercial strata..what's the difference? which one is good?
Erm, it's actually the same strata title. Just that from the original Strata Title act has a revision called Strata Management Act.
Thanks for watching:)
Sean... could you explain the HOC highway route to vp... i sent you an email on this.. pls
Hi Daniel, I'll look at it yea=)
Thanks for watching!!
Hi Sean, appreciate your video. May I know your email? Wanted to ask some question on shop-lot property. Thanks
taniherng@gmail.com :)