Strata Title Reforms In Malaysia: A Review And Challenges Of Regulatory And Governance Panacea
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 8, Pages 413-426
AbstractMalaysia has some of the largest and most complex strata development in the prime area. A strata scheme is a property development which divides buildings or land into a number of parcels with strata titles. It is separate property deed for each unit in a subdivided under the strata law and necessary as a proof of the ownership of the parcels. The Strata Title Act (STA) 1985 was the first legislation to govern the subdivision buildings into parcels in Peninsular Malaysia. It has gone through a number of modifications and amendments to promote good governance in the property development industry. The latest strata law reforms have accelerated the issuance of strata title, increased protection and facilitated the management of strata for home purchasers and imposed stricter conditions on developers. Until recently, the development of strata schemes in Malaysia has been more notable for its issues and challenges than its successes. This paper is to reviews the legal aspects of the strata development as stipulated in the Strata Title Act 1985 and identifies areas of difficulty in Malaysia that may be the challenges to the interested parties. The research method used is the qualitative research in which it will rely on the analysis of the relevant statutes, rules, regulations, books, journals, articles, thesis, monograph, research grants reports, seminar papers, electronic materials and various newspaper reports. The paper will be of interest to those involved with property developments in international jurisdictions that have similar multi-unit ownership in jurisdictions considering the introduction of similar forms of multi-unit ownership.
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