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Buy JB landed property
- Thread starter NanoSpeed
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Congratulations!
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Sinkies will never learn .... NEVER EVER trust that Country, only go there for holiday, pump petrol & buy ciggies
IF you really want a house, ONLY RENT & not "buy"
https://www.channelnewsasia.com/wat...oper-over-ownership-malaysia-property-4825021
IF you really want a house, ONLY RENT & not "buy"
https://www.channelnewsasia.com/wat...oper-over-ownership-malaysia-property-4825021
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This house not in gated properties. One of the older development.
If gated, one of the robbers would be the ex-security guard.
100 Singaporeans in legal dispute over condo purchases in JB
FMT Reporters
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25 Dec 2024, 08:34 AM
They claim the developer was not upfront on the sale terms and conditions.
PETALING JAYA: At least 100 Singapore house buyers are locked in a legal dispute with a Malaysian developer over the ownership of their properties, CNA reported.
The news portal said the buyers claimed the developer was not upfront about the sale terms and conditions.
It said property lawyers were now urging buyers to read the fine print and engage local agents better aware of local conditions before purchasing properties in Johor.
CNA reported that Singaporeans were among the top buyers of properties in Johor Bahru and this had seen prices of condominium units jump 30% in the first three months of this year.
About 170 buyers have set up a WhatsApp group to pursue their case.
They said they bought properties as a weekend home and for investment for as much as S$275,000 (RM907,280).
They were shocked when they found out they had bought the homes under a scheme called a private lease scheme (PLS) which says they are buying a lease for 99 years.
This is more like a rental agreement under which they do not actually own the property.
The developer is the actual owner and the buyers are tenants and must seek permission if they want to rent or sell.
A lawyer interviewed by CNA said under PLS, the buyers do not obtain strata titles and only get a long rental lease. They also do not get voting rights to select the committees to run the condominiums.
If there is any legal dispute, creditors will go after the land to the detriment of the lessees. The value of property may also be affected, the lawyer added.
Developers argue the PLS is valid and the buyers have passed the legal period to take action.
FMT Reporters
-
25 Dec 2024, 08:34 AM
They claim the developer was not upfront on the sale terms and conditions.
PETALING JAYA: At least 100 Singapore house buyers are locked in a legal dispute with a Malaysian developer over the ownership of their properties, CNA reported.
The news portal said the buyers claimed the developer was not upfront about the sale terms and conditions.
It said property lawyers were now urging buyers to read the fine print and engage local agents better aware of local conditions before purchasing properties in Johor.
CNA reported that Singaporeans were among the top buyers of properties in Johor Bahru and this had seen prices of condominium units jump 30% in the first three months of this year.
About 170 buyers have set up a WhatsApp group to pursue their case.
They said they bought properties as a weekend home and for investment for as much as S$275,000 (RM907,280).
They were shocked when they found out they had bought the homes under a scheme called a private lease scheme (PLS) which says they are buying a lease for 99 years.
This is more like a rental agreement under which they do not actually own the property.
The developer is the actual owner and the buyers are tenants and must seek permission if they want to rent or sell.
A lawyer interviewed by CNA said under PLS, the buyers do not obtain strata titles and only get a long rental lease. They also do not get voting rights to select the committees to run the condominiums.
If there is any legal dispute, creditors will go after the land to the detriment of the lessees. The value of property may also be affected, the lawyer added.
Developers argue the PLS is valid and the buyers have passed the legal period to take action.
The thread title is correct. But someone mentioned about Singaporeans locked in legal disputes. The latter relates to a condominium.
- Joined
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Sorry, you are right. The robberies were committed in landed properties in your first post.
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sekali change gov again and new gov rescinds policy for foreigners to buy landed homes in ml. and condos limited to 99 years lease. like that can jump.
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The sinkies believe they had bought freehold condos at a bargain price when they had actually bought over-priced 99 years use and dispose type condom-miniums.
The Question: Sinkies or developer at fault?
This thread proves that either way you get robbed, if not by the mudd robbers, then by the developer.
That type of property way below rm500k. Peasants can only buy above rm1juta treshold.
- Joined
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Come to Foshan
Balek kampong to motherland China.
Balek kampong to motherland China.
- Joined
- Sep 22, 2008
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The gomen cannot change what is already bought.
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