Certificate in Credit Property Security 10-2

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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?

Land office Signup and view all the answers

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

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

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

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

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

Approval from the Ruler of the State in Council Signup and view all the answers

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

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

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

To qualify for residential use Signup and view all the answers

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

It leads to differing restrictions on dealings in Malay reserved land across states 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?

It lapses after 6 months Signup and view all the answers

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

The transfer is rendered void Signup and view all the answers

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

Obtaining consent from the state authority or Ruler in Council 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?

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

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

Obtaining approval from the state authority 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?

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

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

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

In what scenario are land laws not applicable in Malaysia?

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

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

Contract Signup and view all the answers

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

Temporary Occupation License Signup and view all the answers

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

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

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

To execute transfer documents of ownership of strata titles Signup and view all the answers

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

It enables the original proprietor to apply for subdivision at the super structure stage 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?

Thirty (30) days from the date of issue Signup and view all the answers

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

Transferor 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?

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

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

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

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

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

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

It becomes a criminal offence. Signup and view all the answers

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

To provide security to the financial institution. Signup and view all the answers

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

They are left with no further interest in the land Signup and view all the answers

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

Supplementary Loan Agreement Signup and view all the answers

What is the purpose of a Supplementary Loan Agreement?

To secure additional facilities Signup and view all the answers

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

To facilitate the sale of the land from the developer Signup and view all the answers

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

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

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