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Housing agreement

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asked on Dec 17, 2014 at 20:19
by   cabxi1
Hi sir/madam,

My wife and I bought a house recently, we've signed agreements(house and loan). House agreement (both names) and loan agreement (wife's name).

The housing agreements fully stamped and collected, however the loan agreements stuck due to banker said found my name is under bankruptcy/court case.

In this kind of situation, may you advise what should we do?
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5 Answers

answered on Dec 17, 2014 at 21:59
by   jeff005
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A Bankrupt is one who has been Adjudged Bankrupted by the High Court.
A Judgement Debtor under bankruptcy/court proceedings in court is NOT A BANKRUPT.

1/ First determined your status.
2/ You have been lucky the bank lawyer discovered it early. If you have bought a USD2,000,000 bangalow and paid a 50% deposit and 50% bank loan, say goodbye to your 1,000,000...... New ownership JIM 50% Wife 50%..
3/ Just change S&P to your wife only....
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answered on Dec 18, 2014 at 00:20
by   cabxi1
Hi Bladirunner,

Thank you for the advice, however the S&P has already stamping, what's the procedure of changing to single name and how much does it cost?
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answered on Dec 18, 2014 at 01:09
by   Anonymous
Just throw away the old S&P.. The Bank and their lawyers will just draft a new one.. fresh one.. If u dun withdraw the old one which cannot be legally enforced or "financially workable", how can the bank process the new one? Whatever it is, determine your bkcy status first... then talk with the bank..
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answered on Dec 19, 2014 at 22:09
by   cabxi1
thank you for the advice.

I asked bank about the status, they can't provide, where can I check the about my status?
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answered on Dec 19, 2014 at 23:58
by   jeff005
Check travelling status first..

.. http://www.lawyerment.com.my/boards/article-Malaysia_Business_Consumer_Bankruptcy_Law-2852.htm

Google and search your full name to see if there is any bankruptcy proceedings in court against you currently..

Read @King.. on how he checked on his court status..

.. http://www.lawyerment.com.my/boards/article-Malaysia_Business_Consumer_Bankruptcy_Law-2926.htm
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