What is a Memorandum of Transfer (MOT)?

A Memorandum of Transfer (MOT) is a transfer of ownership procedure of a property for the price agreed between the buyer and seller. It is used to transfer ownership of the property from the developer to buyer, or in the case of secondary market purchases, transfer ownership of the property from the seller to buyer. The property can be transferred to a family, boyfriend, girlfriend, friend or any stranger. The cost of a MOT borne by the buyer will include professional legal fees, stamp duty, disbursement fees as well as sales and service tax.

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Components of a MOT

1. Company letterhead
2. List of parties involved in the transfer of property
3. Description of and valuation of items in the transfer

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Documents needed prior to transfer of property

1. a) Copies of all present and previous SPAs
2. b) Copies of present and previous Loan Agreement, Deed of Assignment, Deed of Receipt

and Re-assignment (if any).

1. c) Strata Title (from the developer)
2. d) Current year quit rent receipt
3. e) Current year assessment receipt
4. f) Facility Agreement

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Stamp duty charge on the MOT
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Stamp duty waived: Between husband and wife by way of love and affection
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Stamp duty exemptions

First-time homebuyers will be exempted from stamp duty on the first RM300,000 of the property price on any instrument of transfer and the loan agreement, for SPA completed between 1 January 2019 and 31 December 2020.

Process developer and buyer will sign the MOT (Form 14A) which indicates who is the owner and who is the transferor, transferee, and how much shares the transferor wants to transfer.

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Conversation between Preeta and Adam (developer’s agent) discussing about a property transaction worth RM400, 000. Adam is finalising the MOT with the developer.

 

Adam: Hi Preeta, are all the documents in order for us to finalise the MOT?

Preeta: Yes, I have all the relevant documents ready.

Adam: I will calculate the stamp duty for the MOT.

The first RM100,000, stamp duty is 1%

RM100,000 x1% = RM1,000

From RM100,001 to RM500,000, stamp duty is 2%

RM300,000 x 2 = RM6,000. So, the total Stamp Duty that I need to pay is RM7,000

Preeta: Let’s sign this MOT and complete the transaction and the property will be transferred to your

name officially.

 

Untuk Siaran Segera

LBS SARAN INISIATIF STRATEGIK

BANTU MEMPERKASA PEMBELI RUMAH

Petaling Jaya, 5 Oktober 2020 – LBS Bina Group Berhad berharap pelanjutan Kempen Pemilikan Rumah (HOC), skim pembiayaan akhir khas untuk pembeli rumah pertama, insentif kepada pemaju perbandaran dalam membantu keberkesanan rancangan infrastruktur dan juga faedah tambahan untuk menggalakkan penggunaan Sistem Binaan Berindustri (IBS) secara meluas akan dimasukkan ke dalam Belanjawan 2021.

“Kami berhasrat cadangan ini bagi Belanjawan 2021 kerana kami yakin pelaksanaan ini mampu membantu pemaju memperkasa pembeli rumah di samping membantu negara menambah baik kadar pemilikan rumah dalam kalangan rakyat Malaysia,” kata Pengarah Urusan Kumpulan LBS, Tan Sri Lim Hock San.

“Sebagai Pemaju Perumahan Rakyat’, LBS kekal komited menyokong agenda perumahan Kerajaan, dan mengesyorkan beberapa cadangan utama untuk menggalakkan pemilikan rumah dan meningkatkan pemasaran hartanah:

(1) Harga rumah yang mampu dimilikikekal menjadi cabaran utama kepada majoriti masyarakat di Malaysia, terutamanya bagi pembeli rumah pertama. LBS menyarankan pihak Kerajaan untuk melanjutkan HOC sebagai insentif bagi membantu untuk mengurangkan bebanan pembeli rumah.

(2) Bagi membolehkan lebih ramai pembeli rumah mendapat pinjaman perumahan, LBS mengusulkan Kerajaan untuk memperkenalkan kadar faedah khas yang rendah khusus bagi pembeli rumah pertama terutamanya kepada golongan generasi muda.

(3) Selain itu, LBS berpendapat bahawa Kerajaan perlu memperluaskan insentif kepada pemaju yang menggunakan teknologi IBS berbanding sistem pembinaan tradisional. Sistem IBS melibatkan teknologi moden yang dapat membantu mengurangkan kebergantungan terhadap pekerja asing kurang mahir, mengurangkan kos pembinaan, meningkatkan produktiviti sekaligus menyumbang kepada penurunan harga rumah.

(4) LBS berharap Kerajaan akan memberikan lebih insentif kepada pemaju perbandaran kerana ia akan membantu negara dalam perancangan bandar.

“Dengan strategi yang tepat dan sokongan daripada polisi Kerajaan, keadaan ini pasti akan dapat meningkatkan pasaran hartanah dan menyumbang kepada perkembangan ekonomi negara,” ulas Tan Sri Lim.

-Tamat-

即时发布

林木生集团冀财案惠及购屋族

(八打灵再也5日讯) 林木生集团 (LBS)冀望政府在2021年财政预算案推出数项政策和措施，包括延长拥屋计划 (HOC)、为房屋首购族提供特别融资方案、提供奖励给城镇发展商，以协助改善基础设施规划、以及为激励发展商更广泛采用工业化建筑系统 (IBS)而提供奖励。

林木生集团董事经理丹斯里林福山表示：“我们对2021年财政预算案提出上述建议，坚信这有助发展商和人民，让国家实现居者有其屋的宏愿。”

作为‘以人为本’的发展商，林木生集团始终致力支持政府房屋政策，提出以下4项关键举措建议，以促进首购者拥屋，提振房地产市场：

(1) 对于大多数国民，尤其是房屋首购族，房屋负担能力仍然是主要挑战。林木生集团建议政府延长拥屋计划，因为这项计划下的激励措施，将大大减轻购屋者的负担。

(2) 为使更多购屋者取得房屋贷款，林木生集团敦促政府对首购族，尤其让年轻一代通过特别低息的房屋贷款，拥有安乐窝。

(3) 林木生集团呼吁政府进一步推行激励措施，以促进工业化建筑系统技术的采用。工业化建筑系统采用了现代技术，可减少对外劳的依赖，降低建筑成本，并提高效率，从而降低屋价。

(4) 林木生集团希望政府给予城镇发展商更多奖励，这将有助于我国城市规划。

丹斯里林福山说：“在正确战略和政府援助政策之下，肯定能提振房市，刺激国家经济增长。”

~完~

For Immediate Release

LBS CALLS FOR GREATER INITIATIVES

TO EMPOWER HOME BUYERS

Petaling Jaya, 5 October 2020 – Extension of Home Ownership Campaign (HOC), special end-financing scheme for first-time house buyers, grant incentives to township developer to assist in better infrastructure planning as well as additional benefits to encourage wider Industrialised Building System (IBS) adoption, are some of LBS Bina Group Berhad’s wish list for National Budget 2021.

“We wish to highlight these recommendations for Budget 2021 as we strongly believe this wish list can help developers, empower home buyers and help the nation in achieving its aspiration of increasing home ownership for Malaysians,” said LBS Group Managing Director, Tan Sri Lim Hock San.

“As the ‘People’s Developer’, LBS remains committed to support the government’s housing agenda, and would propose the following key measures aimed at encouraging homeownership and uplifting property market:

(1) Property affordability remains a key challenge for the majority of Malaysians, especially first-time house buyers. LBS suggest to the Government to extend the HOC, as incentives under HOC will significantly reduce the burden of homebuyers.

(2) To enable more homebuyers to secure housing loans, LBS urge the Government to introduce a special low interest rate for housing loans for first-time home owners, especially the younger generation.

(3) Additionally, LBS is of the view that the government should widen its incentives to developers who adopt IBS technology over the traditional construction system. IBS system embraces modern technology that can reduce dependency on unskilled foreign workers, building cost and increase productivity, eventually, bringing down house prices.

(4) Last but not least, LBS hopes the Government will grant more incentives to township developers, as it will help our nation in greater city planning.

“With the right strategies and Government supporting policies in place, it will definitely boost the property market and contribute to stimulating the country’s economy growth,” concluded Tan Sri Lim.

-End-