This type of Title refers to a bigger piece of land which including building lots or parcel lots that have yet divided into individual building lot or parcel lot.
It usually registered in the name of the Developer and might be registered in the name of Proprietor or with the Developer.
Before they divide the property to Individual/Strata Title, the Developer will be the Landholders in the Master Title which they have right to control all the transactions of the Land. Issuance of Individual or Strata Title depends on the Property Developers in terms of complete of transactions.
For example, if you decide to sell or do refinance for your property, you need to get a confirmation from the Developer which they allow you to sell or refinance the property.
It normally issued for landed properties which means that one Property is under the ownership of the Individual who purchase the Property and have their own Hakmilik Number.
Issuance of Individual Title normally faster than Strata Title.
Normally, a unit of landed property such as terrace houses or bungalows will be divided into Individual title. However, some of it will be divided as Strata Title because they shared facilities such as clubhouse or guarded or gated communities.
Strata Title refers to one Hakmilik for every parcel in a building that built on the land which means you are now the rightful owner of your house but you will share the common area such as swimming pool or lift.
Usually this Title issued for high rise properties. However, landed properties in a gated housing areas with guard and facilities can be considered as Strata Title.
This means, it will be easier for you to sell or purchase the Property without consent from the Developer but bear in mind some Developer would like to have a confirmation or acknowledge regarding all the parcel.
