Buying or selling a property might sounds complicated and you will always find yourself wondering what should you do after securing a buyer or a seller of a property.
This is why JHCo is here, to cater full service on real estate and conveyancing matters from A to Z. Yes, you get that right. From Sale and Purchase to Loan Documentation to Perfection of Transfer and Discharge of Charge. As we uphold our values of Excellence, Performance and Personal Service, our firm ensure that your conveyancing transactions will be smooth, efficient and most importantly, no headaches and hassle-free.
JHCo’s priority is to ensure we are providing Excellence Personal Service Performance to our diverse clientele.
Perfection of Transfer (POT)/ Perfection of Charge (POC)
When a property purchase has been made, but before the Individual or Strata Title has been issued, this is where the Perfection of Transfer is needed in order to transfer to individual ownership.
Normally, it is needed when you purchased the property directly from the developer.
The transaction is simply like dividing up the big development that is under the
Master Title into smaller pieces that are individually covered by the other titles.
The Perfection of Charge is another title transfer document, covering the transfer of ownership for an Individual or Strata Title, to the bank who granted the housing loan to purchase the property.
To make it simpler, the Perfection of Transfer is needed to take ownership from a developer or seller while a Perfection of Charge is required in order to charged the ownership to the bank.
If you are a landlord and planning to rent out your property or you are a tenant who wants to rent someone’s property,
you should get a tenancy agreement. This is a legal contract between a landlord and tenant that outlines the duties and obligations of each party during the tenancy period.
To protect both parties’ rights and interest, landlords are advised to engage a solicitor to draft a Tenancy Agreement, while the tenants can consult their own lawyer to examine
the contract and ask for reconsiderations before mutually agreeing to a final version.
Finally, the final payment of your housing loan. What’s next? Yes, you need to get the grant of your property. But first, you must appoint a lawyer to help you with the transactions of Discharge of Charge (DOC),
also known as 'Form 16N from the National Land Code 1965', for properties with an individual or strata title or Deed of Receipt and Reassignment (DRR), for properties with a Master Title.