Leasehold What Does Leasehold Mean

[sumaiyakhatun29]

Freehold properties that already have individual/strata grants without restrictions, for example, can be sold, including to non-Bumiputeras. Leasehold is not like this. Selling to non-Bumiputeras is not easy. You need to get permission. The process of buying and selling freehold properties is also shorter. It can be completed within around 90 working days from the date the sale and purchase agreement is signed. However, there are also freehold lands that have restrictions.


For example, restrictions on the use of land are limited to buy benin whatsapp number database planting such as oil palm, rubber, etc. There are also restrictions when you try to sell a house to a foreigner. Apart from that, there are also some places such as Negeri Sembilan that still require permission to transfer ownership for freehold properties. So don't be fooled. It's best to check the grant first under the "Restrictions of Interest" section.


What is leasehold property? Leasehold means that the land is given for a limited period of time. The period given is usually 99 years. However, this 99 years is not absolute. There are shorter cases around 30 years and 60 years. In Sabah and Sarawak, it can be up to 999 years. The leasehold status is stated on the grant.