Financial Institution as A Bona Fide Purchaser for Value: Scratch Beneath the Surface

Noraziah Abu Bakar

doi:10.6007/ijarafms/v11-i1/9772

Abstract

Financial Institution as A Bona Fide Purchaser for Value: Scratch Beneath the Surface

Highlights

In the Peninsular Malaysia, the statute that regulates land law is the National Land Code 1965 (NLC). It was introduced by the Parliament in 1965 that is based on the Torrens System promulgated by Sir Robert Torrens in 1857.1 The core principle under the Torrens System is the registration system, Torrens, R.R., The South Australian System of Conveyancing by Registration of Title, with
Where upon registration of the prescribed form provided under the law, the title or interest in land shall be vested to the new proprietor or interest holder of the land
Unlike Australia, a nation where the Torrens System was earlier adopted, the Peninsular Malaysia has no specific statute that regulates the process of registration

Summary

Introduction

In the Peninsular Malaysia, the statute that regulates land law is the National Land Code 1965(NLC). MANAGEMENT SCIENCES where upon registration of the prescribed form provided under the law, the title or interest in land shall be vested to the new proprietor or interest holder of the land.. The NLC provides the type of land transactions that are recognized as land dealings that must be go through the registration process before the ownership or interest is vested to the oncoming party. Transfer of land under Section 215(1) of the NLC where the prescribed form is called Form 14A; ii. Lease under Section 224(1) of the NLC where the prescribed form is called Form 15A; iii. Creation of a charge under Section 242(1) of the NLC where the prescribed form is called Form 16A; and iv. Easement under Section 286(1) of the NLC where the prescribed form is called Form

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Conclusion