Guidebook on Registering Property in Malaysia.pdf

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GUIDEBOOK on REGISTERING PROPERTY in MALAYSIADiagram 4ADiagram 5Diagram 6Diagram 7Diagram 8Diagram 9Diagram 10Diagram 11Diagram 12- Workflow of Registration Process atKuala Lumpur Land Registry[for consent to transfer involving propertywith restriction-in-interest / leasehold (if required)] 16- Initiative for Improving RegisteringProperty (Freehold and Leasehold Landed) 18- Obtaining Redemption Statement inStraightforward Cases 22- The Procedures for Sub-Sale of Propertieswith Title (Freehold or Leasehold) frombuyer’s point of view 24- Release of Original Title in StraightforwardCases 26- Type of Transactions in Property Saleand Purchase 28- Obtaining Redemption Statement inStraightforward Cases 31- The Procedures for Sub-Sales of Propertywithout Title (Freehold or Leasehold) frombuyer’s point of view 33- Release of Original Documents inStraightforward Cases 34Appendix 1 - Issue Document of Title 36Appendix 2 - Form of Private Land Search 39Appendix 3 - Memorandum of Transfer (Form 14A) 40Appendix 4 - Form PDS 3 44Appendix 5 - Form PDS 15 (Online) 45Appendix 5a - Form PDS 15 (Manual) 48Appendix 6 - Notice of Assessment 50Appendix 7 - Discharge of Charge (Form 16N) 52Appendix 8 - Charge (Form 16A) 55Appendix 9 - Application for Private Caveat 59Appendix 10 - Withdrawal of Private Caveat 61Appendix 11 - Cost of Registering Properties(Registration Fees) 62Appendix 12 - Schedule 17 Application for Consent toTransfer and Charge 67GLOSSARY 72CONTACTS 74ACKNOWLEDGEMENT 82
GUIDEBOOK on REGISTERING PROPERTY in MALAYSIAINTRODUCTIONRegistering PropertyThe speed of getting property registered is one of the elements that impact a country’scompetitiveness. Onerous processes and procedures for property registration affect the ease ofdoing business.4PEMUDAH’s Focus Group on Registering Property worked to improve the processes andenhance transparency in the procedures for registering property. This group comprised membersfrom the Stamp Office Division of the Inland Revenue Board of Malaysia, Valuation and PropertyServices Department of the Ministry of Finance and the Land Office / Registry under the StateGovernment.The improvements made include:• e-Stamping, an on-line stamping system involving agent and the Stamp Office or RevenueService Centre (RSC) which comprises:-• Sistem Taksiran Pindah Milik Harta Tanah (STPH)• Stamp Assessment and Payment System (STAMPS)• The valuation process by the Valuation and Property Services Department [Jabatan Penilaiandan Perkhidmatan Harta, (JPPH)];• Computerisation of the property registration system in the Land Office / Registry.Processes have been streamlined to the extent that it now generally takes 2 working days for aStandard Property to be registered in Peninsular Malaysia.The “Walking Through the System” in this guidebook provides an illustrated step-by-step guidewhich includes the time and costs involved, in a sample case.
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