[Malaysia] Will You Get Fined for Failing to Perfect Your Strata Title?

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Are you confused on the topic of “Are you compelled to perfect your strata title within 12 months upon notified by the developer?”, Failing so, would you get penalized?
What are the ramifications on Stratified buyers for failing to perfect your strata title which you should be aware of?
If you have the same concern and would like to know the answer to the above question, watch this video until the end where i will share :
1) The history of Stratified development in Malaysia
2) The ramifications which stratified owner must know if they dont perfect their strata title
3) Would they get fine by the government if they fail to perfect their strata title within a timely manner.
4) My personal opinion on this matter

Revenue loss from uncollected strata titles – https://www.thestar.com.my/business/business-news/2020/02/22/revenue-loss-from-uncollected-strata-titles

Disclaimer : I am not a practicing lawyer, I am just sharing my findings with all of you over here. Should you need legal advice, please seek them out from a professional practicing lawyer.

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