To prevent the adverse effects of a property bubble and to attract genuine buyers rather than speculators,the Penang State Government has come out with their latest ruling in which come into effect on 1 February 2014, of imposing a 3%…
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To prevent the adverse effects of a property bubble and to attract genuine buyers rather than speculators,the Penang State Government has come out with their latest ruling in which come into effect on 1 February 2014, of imposing a 3%…
TERMINATION OF CO-PROPRIETORSHIP 1) Can the court terminate the parties’ co-proprietorship or not ? Yes, it is possible. 2) How to terminate the co-proprietorship ? = Subdivide the land = Have the land partitioned = Transfer the minority shareholder’s…
Top 10 Tenancy/Lease Terms You Should Have Before Renting Tenancy is created for a term not exceeding three years, whereas leases are for period longer than 3 years. Tenancy at will is an agreement where a tenant occupies a property…
WHAT IS A DEED OF MUTUAL COVENANT? A Deed of Mutual Covenant (“DMC”) is a document containing terms that are binding on all flat owners of a multi-unit or multi-storey building. Once a DMC is signed by the owner of…
Mortgage Reducing Term Assurance (MRTA) is sometimes referred to as Mortgage Life Insurance. If you are taking a housing loan to buy a property, chances are that you will be required to pay for MRTA by the bank as part of your…
The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 Passed The Valuers, Appraisers and Estate Agents (Amendment) Act 1981 has come into force on 2 Jan 2018. The primary aim of the Amendment Act is to expand the scope to…
STRATA TITLES (AMENDMENT) ACT 2001 The Strata Titles (Amendment) Act 2001 (Act A1107) (‘the amendment Act’) is introduced to amend the Strata Titles Act 1985 (‘the principal Act’). The amendment Act is largely designed to improve the mechanism of…
TAX EXEMPTION ON RENTAL INCOME FROM RESIDENTIAL HOMES RECEIVED BY MALAYSIAN RESIDENT INDIVIDUALS Current position Pursuant to section 4(d) of the Income Tax Act 1967, Malaysian individuals who lease out their residential homes must pay a progressive income tax ranging…
Purchasing properties in Malaysia has caused various psychological barriers on many purchasers even though the price of the said property is said to be cheaper than market value.
Tourism Tax is a mandatory tax charged on foreign tourists staying at any accommodation premises (eg. hotels, inns, hostels, lodging houses, AirBnb etc.) in Malaysia made available by an operator at flat rate of RM 10.00 per room per night.
When you are buying a new house, you are often told that you are signing a “standard” sale and purchase agreement (SPA). However, do you know what are the “standards” you should expect in a standard SPA for residential property?
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If the creditor has my property as a collateral and/or security (form of charge or otherwise), do they have to auction off the property (realized the value of the property first to deduct against my debt) or they can sue…
Freehold and Leasehold Titles According to the National Land Code, 1965 (Act 56 of 1965), Section 40 asserts that all State land belongs to the State authority. When a plot of land is disposed by the authority to an individual…
Buying a property can raise some concerns, especially if you are a first time buyer. Below are the FIVE basic things that you may want to know before investing your hard-earned money into something as liberating as owning a property.
Construction defects are one of the most common causes of disputes and litigation in the construction industry, as there are often disagreements when it comes to identifying what construction defects are.
It is quite a common practice where landlords, upon a breach of tenancy agreement by their tenants, change the locks to the premises in order to evict the tenants.
Is it a fixed term tenancy, periodic tenancy or tenancy at will? A fixed term tenancy has a definite beginning date and ending date and may have an option to renew in the agreement. A periodic tenancy is a tenancy…
What are the options you have if the new property you just bought is full of defects?
If you are a buying a house for the very first time, well, congratulations! You are about to embark on a very exciting journey. But first, there are a few things that you should consider before proceeding with your purchase:…