Perfection of transfer in Malaysia

Posted on April 19, 2020 by Nadzirah Binti Abdul Razak @ Lapochik

Perfection of Transfer is a process to change the ownership of a property from the Developer to the Purchaser upon the execution of the Sale and Purchase Agreement. This process need to be done by way of registration at the Land Office and will only took place upon the issuance of Individual or Strata Title from the Land Office. Why we need to wait for the issuance of Individual Title or Strata Title from the Land Office? It is because when the property is a new project from the Developer, it will involve a Master Title that will includes building lots or parcel lots that have not been divided into individual building or parcel lot or in another words, all property will be put together in one big plan. Therefore, it is the Developer’s responsibility to subdivide the big plan into an individual share of the property and submit it to the Land Office for their approval. Upon approval by the Land Office, each unit of property will now has its Individual or Strata Title and the previous Master Title will be revoked to the Land Office. Once the subdivision is successfully been done, it is the duty of the Purchaser to register their own name on the Title upon the instruction given by the Developer.

• Basic process for Perfection of Transfer:-

1. The Purchaser pay legal fees, stamp duty and disbursements
2. Form 14A (Transfer of Ownership) signed by Purchaser
3. Form 14A (Transfer of Ownership) signed by the Developer
4. Pay stamp duty at LHDN
5. Registration process at the Land Office
6. Issuance of Individual/Strata Title on Purchaser’s name

• Documents needed from the Purchasers are:-

1. Copy of identity card of the Purchaser
2. Copy of title
3. Copy of Sale and Purchase Agreement
4. Latest assessment receipt
5. Quit rent receipt
6. Assessment receipt
7. Other relevant documents

Disclaimer
All data and information provided on this site are for informational purposes only. HS LIM & CO makes no representations as to the accuracy, correctness, completeness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. If you are in any doubt, please contact us for further information.