Legal issues/questions - Anything to do with lawyers and banks

LGLab · Feb 17, 2012

Aisanbo said:
I read this somewhere on the net. Dunno how true.
Consider following scenario of a newly married couple John and Mary.
The couple bought a condo where John parents paid for the downpayment. Couple pays for installment.
Shortly after,, couple had a kid named Tom.
Then couple bought another condo where Mary parents paid for the downpayment. Couple pays for installment.

One day, the family went overseas for tour.....had an accident. Mary died immediately.
So legally everything belonging to Mary goes to John and Tom.
5 hrs later, Tom died. So everything they had now belongs to John.
5 days later, John also died.
Everything that the family had, including the condo that mary's family paid for, now goes to john's parents.
Had it been that Mary died later then John, everything would goes to mary's parents instead.
What ???

sequence counts! :eek:

DREAMorACTION · Feb 19, 2012

- deleted -

crystal_tiong said:
Hi LG lab

Can help to check how much is the lawyer fee to do a will ? My case is since the house is only my name , if something happens to me , i would like to have a will to transfer to my sister and she will continue to service the loans.

Thanks

pes123 · Feb 28, 2012

We decided to use a solar water heater on our bungalow roof in the Hills Precinct at Horizon Hills. We selected MONIER who at the time seemed knowledgable and helpful. Little did we know how wrong we were!!!

However, the installation has been a nightmare! They installed the solar panel in the SHADE.. NO SUN! EVEN AT 12 NOON! NO SUN ON THE SOLAR PANELS!

We have been unsuccessful in getting them to fix it properly. We've been heating our water using the backup electrical heater in the solar tank... we cannot get hot water using solar energy because the solar pannels are shaded!

I've heard that a number of people at Horizon Hills have had the same problem with MONIER.... we are suing them to get it fixed.

Anyone else having these problems with MONIER want to join with us?View attachment 3893 View attachment 3894

Monier shoddy solar system install third sun exposure @ noon.jpg

DREAMorACTION · Mar 1, 2012

Hi all,

I'm expecting my loan to be approved soon. I understand that once a bank has given the offer letter to me, I'm supposed to appoint a lawyer to help me draft the loan agreement. For my case, my developer will bear the legal fee for s&p only, and if I use the same lawyer, he/she will give me 30% discount on the legal fees for the loan agreement. My queries are as follow:-

1) when you had your loan agreement drafted, did you ask for discount, and if so, how many % was it? This point about asking for discount has been brought up by bro wuqi. Although I will be offered 30%, I'm not sure if it is considered reasonable.
2) shall I use the same lawyer for the loan agreement, of which the cost will be borne by me
3) did u go through clause by clause of the letter of offer by the bank, together with your lawyer?

Thanks much!!

ginfreely · Mar 1, 2012

abugumgum said:
I am not sure about this, but will it be better to draft a Will in Singapore and just include the properties in Msia? At least there is only one Will that covers all that one has to pass on, not to complicate matters when the day comes.

I have done a will in Singapore previously, when I asked the SG lawyer whether the SG will can cover the Malaysia house, they asked me to check with lawyers in Malaysia whether need a will in Malaysia to include that. Wonder whether the SG lawyer no good or that is the norm, need one will in one country?

LGLab · Mar 1, 2012

ginfreely said:
I have done a will in Singapore previously, when I asked the SG lawyer whether the SG will can cover the Malaysia house, they asked me to check with lawyers in Malaysia whether need a will in Malaysia to include that. Wonder whether the SG lawyer no good or that is the norm, need one will in one country?

it is better to do in both countries, so when u grant the probate will be faster and easier.
if not need wait long long time..

i dont care, just do in malaysia.. in singapore im not so scare about will

ginfreely · Mar 6, 2012

LGLab said:
it is better to do in both countries, so when u grant the probate will be faster and easier.
if not need wait long long time..

i dont care, just do in malaysia.. in singapore im not so scare about will

Just got the reply from my Malaysia lawyer that I no need to do another will in Malaysia. Can apply at the Malaysia court to enforce the SG will after getting the grant of probate from SG court. Will take longer to grant the probate than the will done in Malaysia indeed.

Hitesh · Mar 14, 2012

Could you all please share which bank gives a maximum loan of 90% to a SPR with who is non Malaysian and non Singaporean? I checked with AM back as LGLAB had initially suggested , but found out that they could only provide 60% loan to me...

contra · Apr 8, 2012

LGLab said:
Dear All,

Vincent77, teck21 and myself have been using Lim Soh & Goonting.

Find them pretty ok.. at least we have seen property transaction done properly by them..

my S&P had been recently signed.. wait till i get my place, i will keep u all posted..

cheers..

Hi Lab, So did it go well? I am looking for a lawyer to handle resale, meaning I want to buy a second property and want a lawyer to represent me. I have in mind the lawyer that represented Gamuda when I bought my HH house directly. But Lim Soh & Goonting seems to be recommended. Can let me know how it went?

wuqi256 · Apr 8, 2012

LGLab said:
I heard to be safe and for cheaper faster and better way..

do will in both malaysia and singapore.

but i think i will just have that do in malayisia.. becus for singapore, i pretty dont worry of the laws here..

The laws of inheritance here in MY is different from that of SG as in the passing down to kids, etc are not automatic.
You do need a will here (ask the lawyer handling the property transaction to do one for you cheaply, normally few hundred RM)

Hopeful · Apr 8, 2012

ginfreely said:
Just got the reply from my Malaysia lawyer that I no need to do another will in Malaysia. Can apply at the Malaysia court to enforce the SG will after getting the grant of probate from SG court. Will take longer to grant the probate than the will done in Malaysia indeed.

Hi, just to share what I was told by my lawyer in Malaysia.
You only need to do one will either in Malaysia or Singapore.
When it is time to execute the will and probate is granted, lawyers from both countries will have to be employed to follow up on the will. So I think you only need to do only one will from either country.
Peace! :smile:

avelc · Apr 8, 2012

If I sell my house in Malaysia for a profit (minus all fees, taxes), how do I repatriate or transfer the profit back to SG?

ginfreely · Apr 9, 2012

Hopeful said:
Hi, just to share what I was told by my lawyer in Malaysia.
You only need to do one will either in Malaysia or Singapore.
When it is time to execute the will and probate is granted, lawyers from both countries will have to be employed to follow up on the will. So I think you only need to do only one will from either country.
Peace!

Hi, thanks for sharing. Good to know that your lawyer in Malaysia said the same thing. However, that day I met one insurance person in a road show in JB, she also handles will writing service and told me that will in Spore cannot be recognised in Malayisa for immovable properties (like house), the will can only can be recognised for movable properties in Malaysia (like cash). And she said it is like that in other countries like UK or Australia too, must write separate will, one in Spore and one in the other country. So strange huh, wonder who to trust - the lawyer or the will writing service company?

Hopeful · Apr 9, 2012

ginfreely said:
Hi, thanks for sharing. Good to know that your lawyer in Malaysia said the same thing. However, that day I met one insurance person in a road show in JB, she also handles will writing service and told me that will in Spore cannot be recognised in Malayisa for immovable properties (like house), the will can only can be recognised for movable properties in Malaysia (like cash). And she said it is like that in other countries like UK or Australia too, must write separate will, one in Spore and one in the other country. So strange huh, wonder who to trust - the lawyer or the will writing service company?

My personal thoughts. Having 2 wills, wonder if it may complicate things?
You will have to craft them out very carefully. What if one will is wrongly written and over rides the other?
In my case, before owning a Malaysian property I already had a spore will. When I bought a property in Malaysia, the lawyer said up to you ( when i asked 1 will or 2 wills) just make sure your will is updated to include the new purchase. Whether will is made in Malaysia or Spore when it is time to be executed, lawyers from boths sides have to be hired to carry out the respective parts of the will. This was what I was told, may need to check further and re confirm. Maybe there is a new policy.

Peace

Hopeful · Apr 9, 2012

avelc said:
If I sell my house in Malaysia for a profit (minus all fees, taxes), how do I repatriate or transfer the profit back to SG?

So far No chance to do that yet. Have only been putting money into Malaysia. HaHa! :smile:

Probably the same way you TT in Spore.

DREAMorACTION · Apr 9, 2012

I have contacted two will-writing firms and confirmed your information. A Will will only cover international movable assets. For all immovable assets, the law of the respective country will apply and you will need different wills in different country to protect your immovable assets. Cheers

ginfreely said:
Hi, thanks for sharing. Good to know that your lawyer in Malaysia said the same thing. However, that day I met one insurance person in a road show in JB, she also handles will writing service and told me that will in Spore cannot be recognised in Malayisa for immovable properties (like house), the will can only can be recognised for movable properties in Malaysia (like cash). And she said it is like that in other countries like UK or Australia too, must write separate will, one in Spore and one in the other country. So strange huh, wonder who to trust - the lawyer or the will writing service company?

Hopeful · Apr 10, 2012

DREAMorACTION said:
I have contacted two will-writing firms and confirmed your information. A Will will only cover international movable assets. For all immovable assets, the law of the respective country will apply and you will need different wills in different country to protect your immovable assets. Cheers

Wil-writing firms make money from writing Wills while lawyers make more money processing the Grant of Probate. LOL!

ginfreely · Apr 10, 2012

Hopeful said:
My personal thoughts. Having 2 wills, wonder if it may complicate things?
You will have to craft them out very carefully. What if one will is wrongly written and over rides the other?
In my case, before owning a Malaysian property I already had a spore will. When I bought a property in Malaysia, the lawyer said up to you ( when i asked 1 will or 2 wills) just make sure your will is updated to include the new purchase. Whether will is made in Malaysia or Spore when it is time to be executed, lawyers from boths sides have to be hired to carry out the respective parts of the will. This was what I was told, may need to check further and re confirm. Maybe there is a new policy.

Peace

Think not due to new policy since the Msia lawyer told me the same thing as your lawyer and that was just last month only. In my case, also did the will in SG previously before buying the house in Msia. Mine very simple will with no list of assets, so no way to add the Msia house haha..

You are right, my worry of having two wills is also whether one override the other?! About this different treatment for movable/immovable assets, I shall try asking the lawyer again, if you do check with your lawyer again and have different advice, can update here? thanks.

ginfreely · Apr 10, 2012

DREAMorACTION said:
I have contacted two will-writing firms and confirmed your information. A Will will only cover international movable assets. For all immovable assets, the law of the respective country will apply and you will need different wills in different country to protect your immovable assets. Cheers

Hi DoA, thanks for checking. So now it is 3 will writing service companies vs 2 lawyers :smile:

Btw which one you checked with? Is it Rockwills or something like that? How much do they quote?

DREAMorACTION · Apr 10, 2012

Yup, one was rockwill, the other from a big firm in KL. can't recall the name off hand ...

I have emailed my own lawyer that handled my s&p. Will update once I have heard anything :smile:

ginfreely said:
Hi DoA, thanks for checking. So now it is 3 will writing service companies vs 2 lawyers Btw which one you checked with? Is it Rockwills or something like that? How much do they quote?

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