Four Gems to Discover in Real Estate with Land Title Search
In this session of CSX LIVE! Cornerstone Xstate is proud and privileged to showcase one of Malaysia’s leading property lawyers. He is none other than Shawn Ho, the founding partner at legal firm Donovan & Ho with over fifteen years of experience dealing with corporate and tax laws in the country. Shawn also advises on foreign investments relating to property transactions within both primary and secondary markets involving residential, commercial as well as industrial properties.
Property transaction in the new normal has become ever more challenging amidst a pandemic. A typical transaction involves key parties which include the buyer, seller, tenant, landlord, land owner and lawyer. In the secondary or sub-sales market, there long exists a spectrum of conflicts associated with sales & purchase agreements (SPAs). Complications arising from such property transactions can easily be averted through something as simple as a land title search.
The eponymous “basket of gems” in land title search is all about identifying issues, opportunities as well as red flags with respect to a property transaction. First and foremost, you can ascertain if a property is classified as freehold or leasehold. You may also know the designated land area of the property. Secondly, the need to obtain the necessary consent from the relevant authorities to transact a property deal is quintessential in planning for any transaction. The third is regarding permissible land usage. Issues arising from unlawful conversions can be duly verified via a land title search. The fourth and final gem is confirmation of claims by third parties or so-called ‘incumbrances’. A simple search can often sort out the legal status pertaining to the claims by invoking certain caveats in property law.
Among Shawn’s greatest aspirations is having a comprehensive offer letter that can save buyers and sellers endless troubles as well as sleepless nights. Always perform a land search to seek and verify the details or particulars of a specific property in question. Pre-approved loans also contribute to a seamless and hassle-free transaction. With respect to property investments, learn to mitigate and manage the associated risks by studying the legal implications of any investment.
As such, Cornerstone Xstate would like to thank Mr. Shawn Ho for an inspiring and informative sharing session!