flowchart - title out
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This document outlines the steps for property purchase and financing in Malaysia. It details preparing the sale and purchase agreement and charge documents, obtaining necessary consents, sending documents for adjudication and stamping, paying stamp duty, and ultimately receiving the registered title once the process is completed, which can take between 3 to 9 months. The key steps are preparing transfer and charge documents, obtaining required consents, sending documents for processing, paying stamp duty, and ultimately receiving the registered property title.
flowchart - title out
- 1. 2a. Prepare MOT 2b. Prepare charge 3a. Executed by developer & purchaser(s) 3b. Executed by purchaser and financier. Charge must be dated later than MOT 3a(i): if at least 1 purchaser is a foreigner, consent from state government is required (form 433B) before sending MOT for adjudication. 3b(i): if property is leasehold, consent to charge needs to be prepared to seek permission to proceed from the relevant Land Office. 3a(ii): if property is leasehold, consent to transfer from developer is needed to seek permission to proceed from the relevant Land Office. 4a. Send MOT for adjudication 4b. Send charges for stamping 5a. Pay stamp duty (within 30 days of notice) 5b. Send original charge for endorsement 5a(i). Stamp issued 8. KIV duly registered title (ind. title around 3-4 weeks; strata title around 3-9 months, need to check monthly) 9. Send security documents to bank (for strata titles, send other security documents and undertake to send duly registered title once it's issued) 10. Send a stamped duplicate charge & copy of duly registered title to purchaser(s) Close file 1st property purchase from Developer Title issued from Land Office (informed by developer) SPA & Loan 1. Inform financier (bank/financial institution) 6. MOT & a stamped duplicate charge sent for registration 7. KIV presentation receipt (c)debrawong.com