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Certificate in Credit Property Security 10-2
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Certificate in Credit Property Security 10-2

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Questions and Answers

What is the primary requirement for the lending bank and solicitors to ensure in terms of security documentation?

  • The security documents are prepared by the land office.
  • The security documents are complete and proper in accordance with the terms of the loan. (correct)
  • The security documents are stamped and registered with the Land Office.
  • The security documents are reviewed by the state authority.
  • What is the term referred to when a person or entity acquires a title to the land from the state authority?

  • Land ownership
  • Alienation of land (correct)
  • Land transfer
  • Registration of land
  • What type of land is generally referred to as grant in perpetuity or freehold title?

  • Leasehold land
  • Freehold land (correct)
  • Native land
  • Malay reserved land
  • Which of the following is NOT a type of land that can be accepted as security?

    <p>Land office</p> Signup and view all the answers

    What is the primary purpose of registering a land mortgage with the Land Office?

    <p>To notify the public of the bank's interest in the property</p> Signup and view all the answers

    What is the consequence of dealing with Malay reserved land in contravention of the Malay Reservations Enactments?

    <p>The dealing will be null and void, and no action shall lie for the recovery of any loan or the foreclosure of the land</p> Signup and view all the answers

    What is the exception to the prohibition on dealings in Malay reserved land?

    <p>Approval from the Ruler of the State in Council</p> Signup and view all the answers

    What is the significance of the court's decision in Ho Giok Chay v Nik Aishah MLJ 49?

    <p>It holds that a charge created over Malay reserved land in favour of a non-Malay is null and void and cannot be enforced</p> Signup and view all the answers

    Why may authorities require an agricultural land to be raised to a certain level?

    <p>To qualify for residential use</p> Signup and view all the answers

    What is a consequence of the varying definition of 'Malay' from state to state?

    <p>It leads to differing restrictions on dealings in Malay reserved land across states</p> Signup and view all the answers

    What happens to a prohibitory order under Section 338 of the NLC 1965 if it is not extended by a court order?

    <p>It lapses after 6 months</p> Signup and view all the answers

    What is the consequence of transferring or charging land without the required consent?

    <p>The transfer is rendered void</p> Signup and view all the answers

    What is a necessary step before financial institutions disburse loans for land subject to restrictions in interest?

    <p>Obtaining consent from the state authority or Ruler in Council</p> Signup and view all the answers

    What is a consequence of using land for a purpose not in compliance with its specified category of land use?

    <p>The land is subject to a fine under Section 127 of the NLC 1965</p> Signup and view all the answers

    What is required to convert the use of land for another purpose?

    <p>Obtaining approval from the state authority</p> Signup and view all the answers

    What is the primary purpose of land laws in Malaysia, such as the National Land Code 1965, Sarawak Land Code, and Sabah Land Ordinance?

    <p>To provide a uniform system governing all dealings in land, including transfer, charge, and lien-holder's caveat</p> Signup and view all the answers

    What is the relevance of land laws to financial institutions in Malaysia?

    <p>They are involved in financing property acquisition and use land as security for loans</p> Signup and view all the answers

    In what scenario are land laws not applicable in Malaysia?

    <p>When documents of title have not been issued for the land</p> Signup and view all the answers

    What governs the rights and liabilities of parties in respect of land without documents of title?

    <p>Contract</p> Signup and view all the answers

    What type of license is commonly issued to vegetable growers in Cameron Highlands?

    <p>Temporary Occupation License</p> Signup and view all the answers

    What is the main purpose of Section 214 of the NLC 1965?

    <p>To govern the transfer of land from a transferor to a transferee</p> Signup and view all the answers

    What is the role of the Land Administrator in relation to strata titles?

    <p>To execute transfer documents of ownership of strata titles</p> Signup and view all the answers

    What is the significance of the two-stage application for subdivision of a building or land?

    <p>It enables the original proprietor to apply for subdivision at the super structure stage</p> Signup and view all the answers

    What is the time limit for the execution of transfer documents of ownership of strata titles by the purchaser?

    <p>Thirty (30) days from the date of issue</p> Signup and view all the answers

    What is the term for the person or entity transferring the land?

    <p>Transferor</p> Signup and view all the answers

    What is the consequence of a non-native acquiring rights or privileges over land held by natives in Sarawak?

    <p>The rights or privileges acquired are void, and a criminal offence is committed.</p> Signup and view all the answers

    What is the penalty for contravening Section 8 of the Sarawak Land Code?

    <p>The non-native is guilty of a criminal offence.</p> Signup and view all the answers

    What is the primary purpose of conducting a bankruptcy search under Jabatan Insolvensi Malaysia?

    <p>To ascertain whether the chargor has been adjudicated a bankrupt.</p> Signup and view all the answers

    What is the consequence of a bankrupt failing to surrender the land to the Director General of Insolvency?

    <p>It becomes a criminal offence.</p> Signup and view all the answers

    What is the purpose of registering a charge under Section 64 of the Sabah Land Ordinance?

    <p>To provide security to the financial institution.</p> Signup and view all the answers

    What happens to the owner of the land when an assignment is created?

    <p>They are left with no further interest in the land</p> Signup and view all the answers

    What document is required to secure additional facilities in a land transaction?

    <p>Supplementary Loan Agreement</p> Signup and view all the answers

    What is the purpose of a Supplementary Loan Agreement?

    <p>To secure additional facilities</p> Signup and view all the answers

    What is the role of the developer's solicitors in a land transaction?

    <p>To facilitate the sale of the land from the developer</p> Signup and view all the answers

    What is the consequence of creating an assignment in a land transaction?

    <p>The owner of the land is left with no further interest in the land</p> Signup and view all the answers

    What is the purpose of a House/Property Sale and Purchase Agreement?

    <p>To facilitate the sale of the land from the developer</p> Signup and view all the answers

    What is the significance of the individual title deed in a land transaction?

    <p>It is a document that proves ownership of the land</p> Signup and view all the answers

    What is the role of the individual purchaser's solicitors in a land transaction?

    <p>To represent the individual purchaser's interests</p> Signup and view all the answers

    What is the purpose of the process flow diagram in Figure 10.2?

    <p>To show the documentation process for a land transaction</p> Signup and view all the answers

    What is the amount of the approved loan in the property security scenario?

    <p>RM100,000</p> Signup and view all the answers

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