If you purchased a property using a UOB housing loan or property financing facility before the individual or strata title was issued, you may subsequently need to complete the Perfection of Transfer (POT) and Perfection of Charge (POC) once the separate title becomes available.
This may happen several years after the original purchase.
Where your property remains subject to UOB financing, the perfection process generally involves registering the property into your name and registering UOB’s security interest over the newly issued individual or strata title.
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What Is Perfection of Charge?
Perfection of Charge is the process of formally registering the financier’s charge over the individual or strata title after the title has been issued.
When the property was originally purchased, the separate title may not yet have existed.
Once the individual or strata title is issued:
- Perfection of Transfer (POT) registers the purchaser as the registered proprietor.
- Perfection of Charge (POC) registers the financier’s security interest over the property.
Where an outstanding housing loan remains, both processes are commonly coordinated as part of the same perfection exercise.
Further reading: Perfection of Transfer & Perfection of Charge in Malaysia
I Have a UOB Housing Loan. Do I Need Perfection of Charge?
If your property remains subject to UOB financing when the individual or strata title is issued, Perfection of Charge may be required so that UOB’s security can be registered against the title.
The exact documents required will depend on your financing facility, the property title and UOB’s applicable requirements.
Are Perfection of Transfer and Charge Usually Handled Together?
Where the housing loan remains outstanding, Perfection of Transfer and Perfection of Charge are commonly coordinated together.
The process generally involves reviewing the newly issued title, preparing the relevant transfer and charge documentation, arranging execution and stamping, and presenting the documents for registration.
Once completed, the purchaser becomes the registered proprietor of the property and the financier’s charge is registered against the title.
Can TEH & YU Assist With UOB Perfection of Charge?
If your property is financed by UOB and your individual or strata title has been issued, you may contact TEH & YU for assistance with the perfection process.
We can review the relevant property and financing documents and advise on the steps required for Perfection of Transfer and, where applicable, Perfection of Charge.
Any work relating to UOB’s charge will remain subject to the bank’s applicable requirements and appointment procedures.
What If Another Lawyer Handled My Original SPA?
You may still contact us even if another solicitor handled your original Sale and Purchase Agreement or housing loan documentation.
Individual and strata titles may only be issued several years after the original purchase.
You may provide us with the available documents so that we can review the present status of the property and advise on the next steps.
What Documents Should I Prepare?
Common documents may include:
- Developer’s letter informing you that the individual or strata title has been issued;
- Copy of the individual or strata title, if available;
- Sale and Purchase Agreement;
- UOB loan or financing documents;
- Letter of Offer, if available;
- NRIC or passport;
- Correspondence relating to the UOB financing; and
- Previous correspondence relating to Perfection of Transfer or Perfection of Charge.
If you do not have all the documents available, you may first provide the documents in your possession for review.
How Long Does Perfection of Transfer and Charge Take?
As a general guide, the process may take approximately 3 to 6 months, depending on the circumstances of the matter.
The actual timeframe may be affected by document execution, bank processing, stamping, developer documentation, Land Office or Land Registry processing and any issue affecting the property or title.
The timeframe should therefore be treated as a general estimate.
What If My UOB Housing Loan Has Already Been Fully Settled?
If your housing loan has already been fully settled, Perfection of Transfer may still be required because ownership of the property may still need to be registered into your name.
Whether Perfection of Charge remains necessary will depend on the status of the financing and the existing documentation.
You should inform your solicitor that the financing has been fully settled and provide any available redemption or settlement documents.
Read more: You’ve Settled Your Housing Loan. What Happens Next?
Need Assistance With UOB Perfection of Transfer & Charge?
If your property is financed by UOB and the individual or strata title has been issued, you may contact TEH & YU for assistance with the perfection process.
To help us review the matter and provide a quotation, you may provide your SPA purchase price, loan amount, name of the property or development, details of your UOB financing and any letter received regarding the issuance of the title.
TEH & YU assists with Perfection of Transfer, Perfection of Charge and related conveyancing matters in Kuala Lumpur and Selangor in Malaysia.
Frequently Asked Questions
What is UOB Perfection of Charge?
Where the property remains subject to UOB financing, Perfection of Charge refers to the registration of the financier’s security interest over the individual or strata title after the title has been issued.
Are Perfection of Transfer and Perfection of Charge usually handled together?
Where financing remains outstanding, both processes are commonly coordinated as part of the same perfection exercise.
Can TEH & YU assist if another lawyer handled my original SPA?
Yes. You may contact us even if another solicitor handled the original purchase or financing documentation. We can review the available documents and advise on the next steps.
My title was issued some time ago but I have not completed POT or POC. What should I do?
You should have the available documents and current title position reviewed to determine what remains outstanding.
Need Assistance With a Perfection of Charge?
If the individual or strata title has been issued and your bank requires the charge to be perfected, contact us to discuss the documentation and next steps.