Sheda Sibu hails faster property title issuance by Land and Survey Dept

SIBU (Oct 2): The Sarawak Housing and Real Estate Developers Association (Sheda) Sibu branch applauds the prompt issuance of individual documents for house or real estate buyers by the Land and Survey Department (LSD).

Its branch head Wong Siong Nee commended the remarkable achievement and milestone of LSD as “an agency to facilitate property development in Sarawak”.

“Sheda Sibu believes that with these improved procedures, the individual documents of title for all projects can be issued within a few months upon the issuance of Road Completion Certificate.

“This significant improvement enables buyers and financiers of their properties to have their ownership or interests registered in the land registry system, giving the security which every property investor and financier are looking forward to.

“Further, the registration of Memorandum of Transfer can be done within a day.

“The issuance of individual document of title in the end buyers’ name helps to reduce the additional legal documentations (consents by the relevant parties, execution of Power of Attorney and Deed of Assignment in favour of the end-financing banks) during the relevant conveyance and transaction,” he said in a statement.

According to Wong, this gives purchasers and financiers absolute control over their properties, especially for those who may need to transact the property expeditiously for whatsoever purposes as they think fit, such as securing additional funds for investments or financing children’s education.

He said previously, complicated processes of issuance of individual titles including compliance with all the conditions of approval on the proposed planning, valuation of land and the endorsement of the relevant title conditions to the approved land use were among the issues house buyers and developers faced.

With the improvement, he said LSD is now able to utilise their award winning Land and Survey Information System (e-LASIS) in streamlining the process for issuance of subdivided or individual land title, to enable the processes to be carried out concurrently instead of consecutively or sequentially, in providing world class services to the public.

“In the past, all the above processes could only commence after the issuance of a Road Completion Certificate by the council.

“With the improvement, the above processes can now commence upon approval of the Survey Plan.

“Further, the LSD director can pre-approve the terms and conditions for the subdivided titles to be issued.

“Upon compliance with planning approval, payment of enhanced premium and the receipt of the duly executed Memorandum of Surrender and Alienation of Land (Mosa) by the real estate developers, there is no more need to have the subject referred to LSD headquarters as previously practised, in expediting the issuance of the subdivided document of titles,” he said.