Are you planning to transfer your house, condominium or land to a family member in Malaysia?
A property owner may transfer property to certain family members without a conventional sale. This arrangement is commonly known as a transfer of property by way of love and affection.
Common examples include:
- Transfer of property from parents to children
- Transfer of property from children to parents
- Transfer of property between husband and wife
- Transfer of property from grandparents to grandchildren
- Transfer of property from grandchildren to grandparents
Is Stamp Duty Payable?
Certain transfers between family members may qualify for stamp duty exemptions.
For qualifying transfers between spouses, full stamp duty exemption may apply.
For qualifying transfers between parents and children, or grandparents and grandchildren, stamp duty is fully exempted on the first RM1 million of the property’s market value, with a 50% remission on the stamp duty attributable to the excess.
The applicable exemption depends on the relationship between the parties and the relevant legal requirements.
Note: The information above is accurate as at the date of publication and is subject to changes in the applicable laws and regulations.
How Can TEH & YU Assist?
Our conveyancing lawyers can assist with the preparation of transfer documents, stamp duty matters and the registration of property ownership.
Planning to transfer property to a family member?
Contact TEH & YU, a law firm in Kuala Lumpur, for assistance with property transfers by way of love and affection in Malaysia.