Government Urged To Amend Laws To Stop Fraudulent Land Transaction
15/03/2007 Bernama 

KUALA LUMPUR, March 15 (Bernama) -- The Bar Council and four other associations are urging the government to take immediate action to amend laws to stop fraudulent land transaction from taking place.

The call was made by the Bar Council, the Associated Chinese Chambers of Commerce and Industries of Malaysia, Real Estate and Housing Developers Association of Malaysia, National House Buyers Association and FIABCI Malaysia Chapter.

In a joint statement, they claimed that the Boonsom case decided by the Federal Court in 2001, resulted in many fraudulent land transaction cases taking place and owners of properties could not act against the registered proprietor who had obtained good title via fraudulent land transactions.

The case also created uncertainty as to ownership of properties.

"We jointly urge the government to take immediate action to rectify the situation by amending the laws in order fulfill its moral and legal duty to protect the citizens' and investors' properties as enshrined in the constitution." they said in the statement.

The associations claimed property owners who lost their properties as well as bona fide purchases who bought the properties through no fault of theirs suffered severe losses.

They said, in order to alleviate their plight, the government should consider setting up a compensation fund to provide compensation to property owners who lost their properties as well as the bona fide purchasers who bought the properties under such circumstances, a concept practised in Australia and New Zealand.

They also advised land and property owners and intending purchasers to be extra cautious in managing and handling land and property matters and dealings as well as to seek legal advice when necessary.

-- BERNAMA