06/11/2020
THIS NEW LAW GIVES MALAYSIAN DEVELOPERS MORE TIME TO COMPLETE YOUR HOME DUE TO THE MCO
- Many industries have been affected due to the MCO, as they have been unable to carry out work as usual. This includes the construction sector.
- A new law that came into effect on 23rd October 2020 aims to put contracts on hold for 6 months, and this includes housing contracts. This law gives additional time for either party to complete their work, or bring up any problems that they may have.
- The good news is, home buyers are also covered under this law. This means that they will have more time to make payments to the developer or even bring up any defects in their new home that they may come across.
- The law is effective from 18th March- 31st August 2020. However, an extension of time up to 31st December 2020 can be given, if either party makes an application to the Minister of Housing and Local Government.
READ THE FULL ARTICLE HERE: http://bit.ly/CovidLawProperty