Shophouse with multiple owners on geran

yisheng80 — Fri, 09 Feb 2018 14:28:46 +0800

Dear All,

I am considering buy the lower level of a shop house in KL, nearby neighbour actually, old shop house.
It has 3 floors and each floors have different owners. To do some family business since we need more space

From looking at the geran, it doesnt specify which owner owns which part of the building, just a percentage of the total building they each own

eg.

Ahmad Ali No Kp: XXXX
Warganegara: Malaysia
1/12 Bahagian
No 123, Jalan KL. Wilayah Perseketuan

Lim Ah Kow No Kp: XXXX
Warganegara: Malaysia
525/2700 Bahagian
No 123, Jalan KL. Wilayah Perseketuan

etc

I would like to seek anyone kind advise who knows of these issue, will there be complications in the future when I want to sell since it doesnt specify
that I purchased the ground floor so I dont really "own" the ground floor but just a percentage of the total building, therefore paying somewhat more than its actual worth since ground floor is more expensive

What if the owners upstairs dont pay the relevant taxes, how does it affect me with the authorities.

Also do banks have issues giving loans for such purchases?

Who can I talk to in the city council on such issues? Anyone have experience in such matters and found a solution they can share?

Thank you all in advance.

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Shophouse with multiple owners on geran