nominee structure apartment purchase

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PSD-Kiwi
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 5:06 pm

Jack.R. wrote:
Mon Aug 13, 2018 3:37 pm
New apartments get strata titles, old ones soft titles at commune level (just a common paper with fingerprints and a few stamps) or sangkat level (which now looks somewhat similar to an hard title as it is made on hard official looking paper ) .
Hard titles are issued for land, some people might have had hard titles issued for apartment units in the past but I think it's very uncommon and nowadays impossible.
:thumb: Correct...apart from your general statement that new apartments get Strata-Titles, there are conditions.

“Strata titles” are possession rights over property that has been given special approval allowing for co-ownership of a property by Khmer nationals and foreigners. To be granted a co-ownership title, the property must meet a number of criteria’s below:
- Only applies to new buildings – 2010 onwards, that received the correct building approval.
- Foreign ownership is limited to 70% of the total surface size of all units in the co-owned building
- Can’t be ground floor or underground floor
- Can’t be within 30km of any land border
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Duncan
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Re: nominee structure apartment purchase

Post by Duncan » Mon Aug 13, 2018 5:35 pm

PSD-Kiwi wrote:
Mon Aug 13, 2018 4:58 pm
Duncan wrote:
Mon Aug 13, 2018 2:29 pm
PSD-Kiwi wrote:
Mon Aug 13, 2018 2:20 pm
@ Duncan...what do you want clarified...I thought that was pretty clear.
Well I know for a fact that hard titles are or have been issued for apartments above ground level, E1 , E2 or more, as I have seen / bought / and owned them.
Yes, as I mentioned, in the past they used to...I have also bought apartments with Hard-Title...however the MLMUPC has been cracking down on this practice, as I also mentioned. By law, hard-titles only apply to the land...not the structure.


OK, I''ll go along with that. Rules change from one day to the next, depending on payments made.,,, Now something else you said,,,

Whoever owns the ground floor, owns the land, and is the only person entitled to hard-title. Apartments above ground-level are issued soft-title only (and only in Cambodian Citizens name).

I thought that even if the owner of E,O had a hard title for the land, it is still classed as '' common property ''.

eg,, The owner of the top building cannot build on top of that building cause it is ''common property ''. This makes sense ,as if they could they could put an extra one , two or more stories on top and put stress on the foundations.
The stairway going up is also deemed as common property, you cannot block it off, and because water pipes and sewer pipes go through the land of E O , it is also
common property. Owner cannot dig underneath and build a car or moto parking.
All this is subject to all other owners giving their consent.

Just to make the discussion more interesting.

Image
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Duncan
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Re: nominee structure apartment purchase

Post by Duncan » Mon Aug 13, 2018 5:38 pm

kausmo wrote:
Mon Aug 13, 2018 1:00 pm
This is not a ground floor into nor is it in a strata titled property.


These are the type of properties I am referring to. The older standed '' hole in a wall '' building.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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clutchcargo
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Re: nominee structure apartment purchase

Post by clutchcargo » Mon Aug 13, 2018 5:40 pm

PSD-Kiwi wrote:
Mon Aug 13, 2018 5:06 pm
Jack.R. wrote:
Mon Aug 13, 2018 3:37 pm
New apartments get strata titles, old ones soft titles at commune level (just a common paper with fingerprints and a few stamps) or sangkat level (which now looks somewhat similar to an hard title as it is made on hard official looking paper ) .
Hard titles are issued for land, some people might have had hard titles issued for apartment units in the past but I think it's very uncommon and nowadays impossible.
- Foreign ownership is limited to 70% of the total surface size of all units in the co-owned building
That's interesting..I was expecting the standard 49% (khmer 51%)..
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PSD-Kiwi
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Re: nominee structure apartment purchase

Post by PSD-Kiwi » Mon Aug 13, 2018 5:48 pm

clutchcargo wrote:
Mon Aug 13, 2018 5:40 pm
PSD-Kiwi wrote:
Mon Aug 13, 2018 5:06 pm
- Foreign ownership is limited to 70% of the total surface size of all units in the co-owned building
That's interesting..I was expecting the standard 49% (khmer 51%)..
70% of the total surface size of all units in the building...that basically means that foreigners can only purchase 70% of the units in the building, the remaining 30% can only be owned by Cambodian Citizens.

Individual units can be owned 100% by foreigners.


Does that make sense to you now?
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Re: nominee structure apartment purchase

Post by Jack.R. » Mon Aug 13, 2018 5:58 pm

I wonder if the rooftop counts in the equation, because by looking at some projects apparently it does as well as the underground parking and garden.
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