Legal Ramifications of a Private Lease Scheme Property Sale by Malaysian Developers
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Abstract
This paper aims to evaluate the legal ramifications of a private lease scheme to the purchasers. Instead of transferring ownership of the property, the developer transfers a 99-year-old lease in a PLS. Upon expiry the lease, the purchasers are obliged to pay a price in return for the renewal of the lease or the property shall be reverted to the registered proprietor. Consequently, the purchasers were misled to believe that in return of the full payment, they will be transferred with ownership of the property. In the existing legal framework, the developers must transfer ownership of property to the purchasers.
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Copyright (c) 2022 Noraziah Abu Bakar, Ruzita Azmi, Azlinor Sufian, Hartini Saripan
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