20190313 (Wed) How property is passed on after death. Part 2.

20190313 (Wed)

If a person dies, and property is passed on to someone after death. What happens? Part 2.

To summarize:

Without a will – follows Section 6 Distribution Act, 1958 or if muslim – syariah. Administrator – transfer the property with Order for Sale from Court/Syariah. For Swk, Letter of Administration from Resident/District Office by probate officer*.

With a will – a person can name his beneficiaries in his estate. Executor – transfer the property without an Order for Sale from Court. For Swk, similar to above.

With or without will, the executor/administrator having ascertained the beneficiary of the estate (like the only son/daughter), could transfer the property to the beneficiary. In such case, Stamp Duty of RM10 is payable upon transfer.

However, if there isn’t any beneficiary, and the property is to be sold by Order for Sale, the third party – a new person or a relative, could acquire the property by normal procedure. In such case, ad valorem duty is payable and a Market Value would be used.

* Administration of Estates Ordinance (Chapter 80), 1948

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