Datuk Chang Kim Loong: The National House Buyers Association (HBA) has received numerous complaints where developers had failed to redeem from the onset but instead paid off the redemption sum at the last stages of the schedule of payment.
In a landmark decision on Jan 19, 2021, the Federal Court has delivered its grounds of judgement in respect of the case of PJD Regency Sdn Bhd v Tribunal Tuntutan Pembeli Rumah & Another & 6 Other Appeals. It has finally clarified the legal position as to when time starts to run, in respect of VP of the property.
Datuk Chang Kim Loong: Eventually, it is the purchasers who lose — their houses are taken away; they have to settle their mortgage loans with increasing interests; and they are blacklisted, which means they can never borrow again and never buy houses again!
Datuk Chang Kim Loong: While most of them are genuinely passionate about the wellbeing of their communities, there are unfortunately some bad eggs with personal agendas who take advantage of their positions for self advancements.
Datuk Chang Kim Loong: Inheritance tax is effectively sending the message to civil society not to work so hard or to save money for investments but just to have a happy-go-lucky lifestyle and spend all that we earn as we will be taxed again when we die for any assets that we have accumulated from our years of blood, sweat and tears.
Datuk Chang Kim Loong: Most buyers are so trusting that they fail to recognise that they may be taking on a long lease that disguises itself as a conventional property purchase.
A bad neighbour can take a huge toll on your life. From rowdy mid-week or wee-hour parties to dogs that bark incessantly and cats’ faeces at your doorstep, the excesses of inconsiderate neighbours are among the most annoying aspects in community living.
Datuk Chang Kim Loong: Virtual meetings bring a host of benefits and ideally shall remain an option even after the pandemic has been controlled. Virtual meetings could also encourage more people to take part in general meetings as they are just a few clicks away.
Datuk Chang Kim Loong: Members of the public are also forewarned to be careful with any oral promises from any parties to renew lease tenures upon expiry which are not properly documented. The related case study would be the Marble Jade Mansion in Brickfields on issue of “promised” lease extension, but that is another story.
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