With so many available housing schemes in Malaysia, such as the Perumahan Penjawat Awam Scheme –PPA1M, buying a house is definitely an achievable dream. There are many types of properties available in Malaysia, such as condominiums, apartments, landed properties and so on. Many people are still confused with the difference between Strata Title and Individual Title. This article will guide you through the difference between Strata Title and Individual Title.
A. Strata Title Properties in a multi storey building have strata titles. That means, the land belongs to the developers, also known as the owners of the said property. Strata Titles are separate Individual Titles issued to the units of apartments, condominiums or offices located in a development. These units will share common facilities such as the guarded and gated communities, car parks, securities and other facilities. A same owner will govern these facilities. As stated in the Strata Title Act 1985, the developers are responsible to apply for the Strata Titles for the purchasers. Obtaining a Strata Title will take a few years. Before the Strata Title is issued, the owner of the property is allowed to sell and the owner has rights over the property. Once the Strata Title is issued, the person that owns the property is allowed to use the property like the owner of an Individual Title property. B. Individual Title Landed properties such as semi detached houses, detached houses, bungalows, and terrace house will have an Individual Title. The Individual Title is issued when you are the only owner of the whole land. Before you sell your property, you will need to fill in the Form 14A in the Malaysian National Land Code. A Form 16A is needed for the legal charge between the owner and his or her financier. The charge and the transfer will involve the land office. All instruments will need to be presented to the land office for registration. However, do note that there are also some landed properties that share common facilities, usually houses in gated and guarded communities. These properties will then be considered as Strata property and will hold a Strata Title. It is advisable to always check with the developers before you proceed with purchasing of the property. To make it simple, owner of a unit in high rise building, such as condominium, apartment, office, townhouse or shoplot will have a Strata Title for the property. The owners will have the right of ownership of the unit they bought. Every owner will also share the land with other owners in the building, which has been stated as unit share in the Strata Title. As for owner of landed property such as terrace, bungalow, semi detached house or detached house will have an Individual Title In conclusion, these titles will not affect you differently. The price of property will not be affected by these titles. Depending on your wants and needs, think carefully before you decide to buy a landed property or a condominium.
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