Population in Malaysia ). Ownership of parcel in multilevel or multi-storey buildings or. Check rental rate of units and compare with price. The truth is, in Malaysia , the ultimate proof of our ownership to a property is the title or strata title instead of a deed of assignment (by way of transfer).
Issue of strata titles to individual parcels. When should the strata title be issued?
To make use of the common property and common facilities. To sell or rent out my unit. To vote at the Annual General Meeting (AGM) and extraordinary general meeting conducted by the MC. To be provided with service such as provision of water,. Strata titles are issued to owners of high-rise buildings (e.g. condominiums, serviced apartments, offices, retail complexes and etc) which specifies the ownership details, area of the particular unit and accessory parcel (e.g. carpark bays assigned under the Sale and Purchase Agreement).
Before the British ruled us, our land laws were according to the local adat and according to that, any person who clears a piece of land is entitled to stay on that land. However, the traditional land laws didn’t grant ownership over the land (unlike today when you can own land) but it merely gave the right of usufruct (basically the right to use the land and gain profit from it). (more…)