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Legal, Financing & Practical Issues Affecting Housing Developers Under:-1....

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Bukit Bintang

Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

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1. The current application of the Strata Titles Act 2007 and the Housing Development Act 2007:

Re-defination of “Housing Development” and “Housing Accommodation” under the new Act

• Legal and practical implication

• Commercial vs Residential properties

• Legal status of Service Apartments under the HAD

 

2. Application of the Strata Titles Act

Meaning of opening of the “Strata Book.” – Legal and practical importance

a. Submission of Master Title for sub-division

b. Effect of non-submission under the Third Schedule of the Sale and Purchase Agreement under Schedule H.

c. Transfer of Ownership of strata titles under the Act:

• The time period for the original proprietor and the purchaser must execute the Memorandum of Transfer

• Criminal liabilities for failure to execute the Memorandum of Transfer

• Importance of securing at least 1/4 of the titles transferred

• Understanding the “initial management period” under the Strata Titles Act

• Effect of “direct transfer” to sub-sale purchasers

d. Convening the First Annual General Meeting of the purchasers

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Bukit Bintang

Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

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