Legal fees on transfer

When one is buying a landed property from developer before commencement of construction work or during construction stage, it is wise to confirm with the developer whether the status of the land on which the building is going to be constructed is still under a master title of the entire development or is it under a individual title. If the land is still under a master title, then what is normally done during the sale and purchase agreement stage is that there is an assignment of a portion of the master title to the purchaser in relation to the landed property that he or she has purchased. Only upon the completion of subdivision and when the individual title is issued can the transfer be executed to complete the transfer of the property to the purchaser.

In essence, if the land is still under a master title, there will be two legal process which mean two legal fees involved. One for the assignment during the sale and purchase agreement stage and another for the eventual transfer. Therefore if the land come with individual title, there will be only one process where the purchaser will save on legal fees.

In most cases where developer rush to develope their land soon after the purchase of land, the status would most likely still be under a master title, why not negotiate with the developer to absorb the legal fees for the sale and purchase agreement so that eventually one would only need to pay the legal fees for transfer when the individual title is issued after the completion of land subdivision