18 Questions
What is the main purpose of the Strata Title (Amendment) Act 2013?
To bring significant changes to the legal landscape of strata title developments and common property management
What is required for the subdivision of land and issue of strata titles?
Application by the original landowner or property developer
What is the role of a management corporation in a multi-density development?
To collect financial contributions for the maintenance of common areas and facilities
What prevails in the event of inconsistencies between the Strata Titles Act and the National Land Code?
The National Land Code
What is the purpose of the Strata Titles Board?
To hear and determine disputes under the Act
What is the consequence of the Strata Titles (Amendment) Act 2013?
Significant changes to the legal landscape of strata title developments and common property management
What is the purpose of the undertaking to inform the assignee in the event of foreclosure proceedings?
To ensure the assignee's rights are protected in case of foreclosure
What is the purpose of the declaration to have no further rights, title, or interest in the assigned property?
To extinguish the developer's FI's interest in the property
What is the purpose of the undertaking to execute a discharge of charge over the assigned property?
To enable the assignee to take a first legal charge
What is the purpose of the undertaking to refund monies released by the assignee to the chargee?
To refund monies released in the event of unsuccessful registration
What is the purpose of the letter of undertaking from the purchaser's solicitors?
To deliver a duly adjudicated and stamped memorandum of transfer
What is the significance of the individual/strata document of title in relation to the assigned property?
It enables the assignee to take a first legal charge
What is the main purpose of the Strata Titles Act 1985 extension to Labuan?
To extend the provision of Strata Titles to the Labuan region
What is the purpose of the Electronic Land Administration System of Strata Titles?
To provide for the electronic administration of strata titles
What is the consequence of not executing transfer documents of ownership of strata titles within the timeframe?
The Land Administrator or Director may extend the timeframe
In what stage is the application for subdivision required to be made?
At the super structure stage
What is the purpose of the designation of limited common property?
To represent the different interests of parcel proprietors
What is the timeframe for the execution of transfer documents of ownership of strata titles?
Thirty (30) days from the date of issue by the Land Administrator
This quiz covers the Strata Title Act 1985 and its amendments, including the Strata Title (Amendment) Act 2013 and the Strata Management Act 2013. It focuses on the application and transfer of strata titles to individual owners of multi-density developments. Test your knowledge of these important Acts and their implications.
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