Most people does not know this when buying their first home or even second and third home, and thinks that once you pay your deposit and your loan approved thats it. you own it.
Well..... think again..... you might not own it legally (in some cases).
Recently, i have a case.
A company started developing an area in (Selangor).
Everything was going ok. all in oder.
most of the properties were sold.
But........ half way through, the company went into trouble.
and end up closing.
As usual, final title comes way long after the houses were hand over to individual owners.
At the moment, since the company is insolvent, no individual title has been issued, because..........
the process of getting individual title issued was not completed before the company went bankrup!
Some of the owners have since passed away, and guess what.......
all the so call owners are NOT the Legal owners of the propoerty.
And so. again, a Surveyor is there to recue.
only when it is too late and too old, and only then, people start to wonder........
am i the legal owner. ???
So, next time before you buy a property,........
ask a surveyor first for advice.
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2 days ago