Memorandum Of Transfer for your Master Title

Dear owners of Taman Residensi,

On 3rd Oct 2009, the Land Office (PPTGWP) issued a Master Title. It is in the best interest of every home owner to expedite this process to enable you to put your name on your property as fast as possible. Until then, the developer KIP Land Sdn Bhd (KIP) can at any time take back your property, even if your secured loans are in good order. This is according to the Land Office at a meeting with our Persatuan Pro-tem Exco last week.

Besides, a lawyer told me (please don't quote me) that after 1 year (from 3/10/09), if the MOT is not executed, they can charge the owner *us* a penalty of something like RM1,000!

Please refer to letters from KIP:
1. dated 16/10/09 regarding Issuance Of Document Of Title, and
2. dated 16/11/09 regarding Progress Billings for Sep[arate Document of Title together with Memorandum of Transfer to Purchaser's solicitors.

In my case, I signed all documents and made all payments at William Leong & Co (KIP's lawyer) and my bank's lawyer on 16/1/10 and submitted copy of my DBKL Assessment Jan-Jun 2010 bill with paid stamp on 29/1/10. I found out earlier this week that they have only just submitted Taman Residensi owners' documents for stamping.

I don't know about you but the RM360.00 printing / travelling / tel / postage / misc charges by William Leong & Co are ridiculously high in the first place. Having agreed to pay these so-called "Disbursements" and then to find out that they have been sitting on documents is bad for business. Not to mention reputation.

I have made a request to KIP (attn: Mz. Jamie) and William Leong (attn: Mz. Irene) expedite the process and not delay the transfer of title to owners of Taman Residensi Kuala Lumpur.

Hopefully, this will make all our lives a little more secure. A little better.