Land Law: Leases, Charges & Security

<p>Memorandum of Charge (Form 16A) (B)</p> Signup and view all the answers

<p>Registration within 60 days from date of creation (D)</p> Signup and view all the answers

<p>Because the property ownership must be transferred to the purchaser before a charge can be created. (C)</p> Signup and view all the answers

<p>Conduct a final land search to check for caveats or prohibiting orders. (C)</p> Signup and view all the answers

<p>The date and time entered in the presentation book at the land office. (B)</p> Signup and view all the answers

<p>To establish a contractual and legal framework detailing the loan terms and conditions. (C)</p> Signup and view all the answers

<p>Registering the agreement with appropriate regulatory agencies where required. (B)</p> Signup and view all the answers

<p>Loan Facilities: Structure and Terms (C)</p> Signup and view all the answers

<p>To mitigate risks and ensure certain requirements are met before the loan is released. (C)</p> Signup and view all the answers

<p>Strata Title (Amendment) Act 2007 (D)</p> Signup and view all the answers

<p>Applying for subdivision of land and issuance of strata titles. (C)</p> Signup and view all the answers

<p>Perfecting the security interest through notifying the security interest to third party. (A)</p> Signup and view all the answers

<p>Shared with other banks for benchmarking purposes. (B)</p> Signup and view all the answers

<p>A Loan Agreement and Deed of Assignment (LADA) (D)</p> Signup and view all the answers

<p>To prevent further dealings on the master title pending issuance of individual titles. (B)</p> Signup and view all the answers

<p>The borrower's obligations and restrictions during the loan period. (A)</p> Signup and view all the answers

<p>Adjusting the interest rate based on the borrower's marital status. (A)</p> Signup and view all the answers

<p>Deed of Receipt and Reassignment (R&amp;R) (D)</p> Signup and view all the answers

<p>Loan Agreement cum Assignment (C)</p> Signup and view all the answers

<p>It transfers the rights and responsibilities of the original buyer to the new buyer before the title is issued. (B)</p> Signup and view all the answers

<p>Power of Attorney (D)</p> Signup and view all the answers

<p>To ensure the bank can reassess the risk associated with any potential new controlling party. (A)</p> Signup and view all the answers

<p>The company is willing to provide land with an issued document of title as security. (B)</p> Signup and view all the answers

<p>To safeguard the bank's investment and manage potential risks associated with the borrower. (D)</p> Signup and view all the answers

<p>The purchaser and the borrower, who are the same entity. (D)</p> Signup and view all the answers

<p>Land where the title is generally referred to as grant in perpetuity or freehold title. (A)</p> Signup and view all the answers

<p>To grant the assignee/lender the authority to enforce remedies, like selling the property, upon borrower default. (D)</p> Signup and view all the answers

<p>The borrower's business plan involves high-risk investments and unstable cashflows. (C)</p> Signup and view all the answers

<p>To prove assignor’s right and interest in property pending issuance of title. (B)</p> Signup and view all the answers

<p>It prevents the developer from dealing with the property in a way that affects the purchaser's and lender's interests. (D)</p> Signup and view all the answers

<p>Sarawak Land Code. (D)</p> Signup and view all the answers

<p>LACA involves the purchaser and borrower being the same party; LADA involves them being different parties. (E)</p> Signup and view all the answers

<p>Properties with title documents offer a more secure legal claim for the lender in case of default. (D)</p> Signup and view all the answers

<p>The bank can sell the assigned property via private treaty or public auction to recover the debt. (C)</p> Signup and view all the answers

<p>First Legal Charge. (B)</p> Signup and view all the answers

<p>An express Notice in Writing must be given to the Developer. (D)</p> Signup and view all the answers

<p>The Original Sales and Purchase Agreement (SPA). (B)</p> Signup and view all the answers

<p>The bank sells the unit trusts to the unit trust manager, and the proceeds are used to settle the loan. (D)</p> Signup and view all the answers

<p>To establish a priority claim on policy monies and ensure direct payment to the bank upon maturity or claim. (D)</p> Signup and view all the answers

<p>If the borrower/hirer services the loan regularly. (D)</p> Signup and view all the answers

<p>They continue to be credited to maintain the collateral value. (D)</p> Signup and view all the answers

<p>Register the debenture with the Company Commission of Malaysia (CCM) within 30 days to notify of prior claim to third parties. (C)</p> Signup and view all the answers

<p>A Hire Purchase Agreement standardized by the Hire Purchase Act 1967. (A)</p> Signup and view all the answers

<p>Upon the event of default, as specified in the debenture. (D)</p> Signup and view all the answers

<p>The trust units are transferred by the lender to the borrower, followed by cancellation of MOD and endorsement on unit trust certificate. (B)</p> Signup and view all the answers

A contract between a bank and a borrower outlining loan terms and conditions.

A legal claim on collateral that secures the loan against default.

Requirements that must be fulfilled before loan funds are released to the borrower.

Details on the types, amounts, terms, and availability of loan facilities.

Agreements between the borrower and lender to maintain certain conditions.

Measures taken to manage the credit exposure and risks involved in lending.

The process of accessing loan funds by the borrower according to agreed terms.

Overseeing adherence to the covenants and conditions of the loan agreement.

Investment strategies that excessively risk cashflows for high returns.

A clause that limits certain actions without lender consent.

Assets like land and property used as collateral for loans.

Legal proof of ownership for a property that provides rights over the land.

Land owned indefinitely, granting full ownership rights.

Land owned for a specified period under a lease agreement.

A lender's claim on property as security for a loan.

Law governing land ownership and rights in Peninsular Malaysia.

Ownership of land for an indefinite period.

Ownership of land for a limited period, such as 30 or 99 years.

Regulates land ownership and leases in Peninsular Malaysia.

Agreements giving rights to use land that don't need registration.

Document creating a legal charge over property.

Title that cannot be annulled or set aside once registered.

Official recording of a legal charge to ensure validity against creditors.

Real estate that lacks documented proof of ownership, often seen in multi-density developments.

A system of ownership for multi-density properties allowing individual ownership of lots and common property.

The process of dividing a larger parcel of land into smaller lots for individual ownership.

Legislation that governs the issuance and transfer of strata titles to owners of multi-density developments.

A document confirming the receipt of payment or property and details of the transaction.

A notice indicating a claim or interest in a property, preventing its transfer without notifying the claimant.

The act of submitting legal documents for official recording or registration in public records.

The legal process of transferring property rights from one owner to another.

A pooled investment scheme where funds are invested in various assets.

Failure to fulfill the payment terms of a loan agreement.

A method of acquiring goods through installment payments where ownership transfers after final payment.

A long-term security yielding a fixed interest, issued by a company and secured against assets.

A type of security interest secured against specific assets, usually immovable property.

A security interest over a pool of changing assets, like inventory or receivables.

The contract used in hire purchase financing detailing the terms of use and payments.

A circumstance specified in an agreement that allows lenders to take action on default.

A contract transferring all rights in property from assignor to assignee as loan security.

A contract where the borrower is the same as the purchaser, secured by an assignment.

Involves different parties, a contract for loan secured by property assignment.

A document granting assignee the right to enforce remedies upon borrower's default.

A vital document proving the assignor's title and rights in the property.

A formal notification required for the Deed of Assignment to take effect.

Proper documentation ensures effective enforcement and reduces assignment risks.