Conveyancing
Our clients can expect professional counsel and in-depth expertise when it comes to conveyancing matters and transactions relating to it. Either buying or selling, financing or investing, our lawyers possess the requisite industry know-how and skills to execute the task at hand.
Our lawyers have advised on areas covering acquisitions and disposals, leasing, property development as well as property funds and finance.
Though conveyancing practice is mainly documented, it is about understanding the process and protecting the client’s interest according to the law. For what it’s worth, we can help you with everything related to conveyancing, enlighten you with all the requirements and regulations that you’ll need to be aware of until the process is completed.
Our experience in conveyancing
We represent domestic and international investors, private and public companies, government linked companies, developers and financial institutions as well as individuals in a full range of conveyancing related transactions from initial acquisition and through to the final divestment.
From investments and divestments, leasing and tenancies, to joint ventures and project management, we have the requisite knowledge and experience to help you, whether you are a buyer or seller, landlord or tenant, or a property developer.
At MONCO, we are experts in a wide range of conveyancing practices including but not limited to-
(a) Sale and Purchase
We specialize in drafting and preparing the Sale and Purchase Agreement as this is one of the most important documents in the transaction. Hence, it should be approached carefully and rigorously, with legal experts guiding the clients.
Being meticulous is paramount whenever we draft the agreement as we have the duty to protect on the client’s behalf, and in their best interests.
Notable transactions:
- Attending a client from Australia who intended to purchase property in Malaysia with the purchase price of RM 10 million and managed to complete the transaction within the completion date.
- Assisted client in the Sale and Purchase transaction involving property where caveat has been entered by a third party. Hence, court order is required to uplift the caveat in order for us to proceed with the next process.
(b) Financial Institution Property Financing
MONCO has been acknowledged by various Financial Institutions for its professional services and experience in handling conveyancing cases. MONCO has been appointed among these Financial Institutions to become their full-time panel and recognised as ad-hoc panel to others as well. At the moment we are the panel solicitors for these following Financial Institutions:
- CIMB Bank Berhad (CIMB)
- Bank Islam Malaysia Berhad (BIMB)
- Bank Kerjasama Rakyat Malaysia Berhad (BKRM)
- Malayan Banking Berhad (MBB)
- Bank Simpanan Nasional Berhad (BSN)
- Bank Muamalat
- Public Bank Berhad (PBB)
- Malaysia Building Society Berhad (MBSB)
MONCO is known for its specialization in both Islamic Banking Property Financing and Conventional Banking Property Financing. Among the partners at MONCO is certified by The Global University of Islamic Finance (INCEIF) which is a mandatory prerequisite to practice Islamic Banking Property Financing.
The services entrusted by these Institutions to be handled by MONCO includes but not limited to, Direct Developer Property Purchase Financing, Sub-sale Purchase of Property Financing, Discharge of Charge, Deed of Receipt and Reassignment and Property Refinance.
(c) LPPSA Property Financing
We are one of the panel solicitors for LPPSA whereby we are appointed to prepare the loan documentations for clients to purchase property either with developers such as PR1MA, TANJUNG RATNA, ASIA SELATAN, LEMBAGA PERUMAHAN MELAKA, PERTAM as well as sub-sale purchasing. We also prepare loan documentations for clients to renovate their houses. Apart from that, we are continuously being assigned to prepare Discharge of Charge documents for clients to settle their loan with LPPSA.
(d) Transfers
MONCO have undisputed experience in perfection of transfers for numerous parties including transfers between individuals and developers, that is by the Memorandum of Transfer as well as by the Deed of Assignment. A transfer may be performed through a contract of sale and purchase that comes practically with an agreement. Nevertheless, we are also handling transfers by operation of law in situations such as death, bankruptcy and order of sale.
Notable transactions-
- Experienced in dealing with any preliminary matters before a transfer could be made such as application of consent, acquiring the Developer’s confirmation and etc.
- Completed whole process of transfers within time, without rejection or amendment by the Land Offices and penalty-free. Despite the different requirements set by the State Authorities or the Land Offices, our team is willing to go the extra mile in order for a transfer to be perfected.
(e) Lease
Pursuant to Section 221 of the NLC 1965, the proprietor has the power to create a lease on the whole or part of the alienated land. We shall guide and advise clients the main fundamental aspect in every lease especially the process dealing with the land office respectively. The tedious process is not a challenge to us.
Notable transactions-
- We have dealt with cases in which clients intended to enter lease agreement for the purpose of plantation in Pahang and we managed to complete the process in a timely manner.
(f) Tenancies
A tenancy agreement is a legal document between a tenant and a landlord which contains all the information concerning the legal rights and obligations of both parties. It is our legal obligation to advise our clients mainly the duties and obligations of each party during the tenancy period. Our legal conveyancing team is very well-versed with the process and also the terms and conditions of the Tenancy Agreement due to the numerous cases we have handled before. Therefore, rest assured that your interest will be protected.
Notable transactions-
- Assisted client in drafting the Tenancy Agreement and the process involving high rise property in the city of Kuala Lumpur where both Tenant and Landlord are satisfied with the terms and conditions of the Tenancy Agreement.
(g) Right of Way
MONCO has been engaged by various entities to assist their application for Right of Way with the respective State Authority. MONCO has experienced in dealing with the State Authority and this has provided MONCO with a leverage in assisting its client in obtaining their desired outcomes. This has made MONCO services a step above the rest.
(h) Easement
MONCO also engages in another key practice in the land and estate matter that is the Grant of Easement and issues arising from such Grant. We have continuously advised all sorts of parties – individuals and also private companies in negotiating and applying the grant to the respective Land Office mainly in Melaka and Negeri Sembilan.
Notable transactions-
- Advised and solicited a tenant on a land over the issue of a creation of easement that was made without their knowledge and consent.
- Represented a private holding company to apply for the grant of easement for a structure and fence built on a path used by others.
(i) Strata Management
MONCO is also experienced in navigating various obstacles involving the strata management pragmatically and creatively. Being panel solicitors to numerous developers, we actively educate both developers and purchasers on law evolving the strata management. Also, we tackle most issues pertaining to the duties of a management body.
Notable transactions:
- Assisted PR1MA on the process involving the transition and application from the Master Title to the Strata Title.
- Advised the management body on the issue of quit rent and assessment receipt before a Strata Title could be issued.
- Being able to overcome issues that arises as to the application of utilities and car park management between Purchasers and PR1MA.
(j) Land Acquisition
MONCO provides guidance and advise in accordance with the Land Acquisition Act 1960 (“LAA”) to the landowners pertaining to the land acquisition procedure. We shall ensure that our client will be granted an adequate compensation due to such acquisition.
(k) Temporary Occupation Licence
Assisting clients in applying and renewing Temporary Occupation Licence (TOL) from the land office.
Our National Land Code 1965 (NLC) permits the issuance of Temporary Occupation License (“TOL”) also known as Lesen Pendudukan Sementara (LPS). Individuals or companies can occupy certain land if Malaysian state authorities grants this temporary license to them. We are very familiar with the procedure in applying and/or renewing TOL. We shall assist our client till its completion.
(l) Post Auction
In Malaysia, auction properties are always associated with foreclosure properties. Therefore, it is imperative for us to know each and every clause stipulated in the Proclamation of Sales in order to avoid clients from paying the late payment interest. As our legal conveyancing team is well-acquainted with the procedures and documents, we can reassure the smooth running of the process till the end.
Notable transactions-
- Managed to complete the process within ninety (90) days in order to settle the balance purchase price.
- Assisted the successful bidder to complete the process within the stipulated period where the auction property is subjected to confirmation from the liquidator.