Thursday, May 5, 2011

Property and Conveyancing In Malaysia

What is Conveyancing?

The term 'Conveyancing' refers to all the legal and administrative work associated with transferring the ownership of land or buildings from one owner to another. The conveyancing process starts after an offer has been made and accepted to buy a property and solicitors' details exchanged by the two parties.

Who Does The Conveyancing?

Most people hire a solicitor or licensed conveyancer to undertake the legal side of buying their home. It is possible to do the conveyancing yourself, but it is time-consuming and also risky if you lack the necessary expertise. Although professional services are expensive, they have become cheaper in recent years and it is well worth the cost to successfully complete the purchase and to resolve any possible problems. This part of the process is crucial.

DIY Conveyancing: Pros and Cons

DIY-conveyancing is perfectly possible. If you are not put off by legal jargon and willing to deal with the large amounts of paperwork involved then you might manage without a professional conveyancer or solicitor. However, it is advisable to think about this very carefully, as it is a complex and time-consuming business. If it is not carried out properly you could, for example, find yourself involved in costly legal disputes over boundaries, or discover that there is a new road planned to be built opposite your home, or even that the seller did not have the legal right to sell the home.

In reality very few homebuyers undertake the conveyancing themselves, for three main reasons:

Many mortgage lenders will insist on employing a solicitor to protect their interests. They will not risk having shoddy conveyancing work.
There is a higher chance of things going disastrously wrong.
The other people involved may not be happy with you doing your own conveyancing, and may even reject your offer on this basis.

There are some cases in which DIY conveyancing is particularly inadvisable, for example:

the property is being sold by a divorcing or separating couple (this requires specialist skill or knowledge).
the property is not freehold.
the property is unregistered.
the property is not a house.

9 comments:

  1. actually....wanna learn about conveyancing.. can u help me ?

    ReplyDelete
  2. Isu untuk dibincang bersama

    MB Consent... case

    Perjanjian tanpa tempoh permohonan MB consent


    Pada Januari 2007 saya (bumiputera) telah memasuki perjanjian jual beli tanah dgn pihak pembeli (non-bumi)


    Permohonan ini memerlukan MB consent.
    Dalam perjanjian itu (overlook), tiada tarikh masa disebut bagi pembeli memasukkan permohonan pindah milik (MB consent).

    Pendik cerita, disebabkan kegagalan pihak pembeli (non-bumi) (menerusi peguam mereka), telah gagal memasukkan permohonan MB consent dlm tempoh munasabah. Saya secara unilateral telah menamatkan perjanjian tersebut disebab ada beberapa klausa/syarat nyata lain yang tidak dipatuhi pada awal tahun 2008.

    Bila saya periksa dgn pihak PTG, Perak, tiada MB consent yg dipohon. Utk itu saya masukkan satu keveat persendirian. Selepas itu saya berdiam diri. Bagaimana saya dikejutkan pada awal Julai 2011 permohonan MB consent telah diluluskan (Jun 2011), iaitu selepas 5 tahun. Saya difahamkan permohonan itu dibuat pada awal 2010, selepas 3 tahun perjanjian ditandatangani dan selepas penamatan perjanjian tersebut (MB consent diperolehi diperolehi selepas lima tahun perjanjian ditandatangani).

    Saya difahamkan ada pihak lain yg melobi secara senyap-senyap (broker pembeli)...


    Apakah implikasi kepada saya dalam hal ini ?.

    Saya tidak lagi mahu meneruskan lagi jual/beli ini... Saya kini telah mengusaha tanah tersebut secara usahasama dgn pihak lain selepas penematan tersebut tanpa bantahan pembeli setelah diberi 2 kali notis penamatan pada awal 2008 dan hujung 2007.

    Sekian terima kasih

    Kamal,Parit Buntar

    ReplyDelete
  3. is there any website with simple introduction possibly with the help of graphic flow charts?

    being a student , i surf the net once in a while , can any good samaritan out there give me the website link to my email:
    jue_is2222@yahoo.co.uk

    thanks from the bottom of my heart.

    ReplyDelete
  4. hi messy girl, sorry for late reply. learning conveyancing is not easy if not doing it practically. we only assist if any issue or problems face by the public.. we appreciate your effort and thanks for viewing our blog.

    ReplyDelete
  5. hi anonymous, we not sure about that. but it is best for you to read more from books to have better understanding about it.. thanks for viewing our blog.. wish you all the best..

    ReplyDelete
  6. en.kamal, kami ingin meminta maaf di atas kelewatan kami membalas komen en. kes en.kamal perlu penelitian terhadap perjanjian yang ditandatangani pada 2007 tersebut. lihat dengan teliti berapa lama daripada tarikh kebenaran diberi sehingga tamat tempoh perjanjian tersebut dan sekiranya ada, bagaimana perjanjian akan ditamatkan. jika ingin mendapat pendapat yang lebih baik sila berjumpa peguam dengan membawa segala bukti yang ada. semoga berjaya kami doakan.

    ReplyDelete
  7. Hi, if I'm not Muslim can i apply for Islamic loan. what is the procedure?

    ReplyDelete
  8. Thanks for your great information. We all appreciate your information. Keep posting these kind of nice blogs.
    Conveyancing fairlight



    ReplyDelete
  9. hi admin,

    if we did our self the conveyancing, how about Sale & Purchase agreement? Whose name need to put for 'in presence of'?

    Regards,
    Jay

    ReplyDelete