Claiming Liquidated Ascertained Damages (LAD) from a developer under Malaysian law involves specific steps and considerations to ensure your rights are protected. Here’s what you need to know:
Review Your Sale and Purchase Agreement (SPA):
Identify the agreed timeline for property delivery outlined in Schedule G or H.
Understand the LAD clause specifying compensation for delays beyond the stipulated period.
Find out the length of Delays and LAD:
Calculate Delay: Measure the actual delay in property delivery. For convenience, use Messrs Lui Bhullar's LAD calculator [https://www.luibhullar.com/ladcalculator].
Keep Records: Maintain thorough documentation of all communication and agreements related to the delivery timeline.
Do Not Waive Your Rights:
Beware of Offers: If offered a token sum in exchange for waiving your LAD rights, we would advise to refrain from signing.
Explore Full Entitlement: Instead, explore your full entitlement to LAD under the HDA.
Issue A Notice and Action:
Issue A Notice: Send a formal notice to the developer, enclosing a quotation from your contractor for the necessary work.
Allow Time: Provide an additional 30 days for the developer to address the issue and settle the claim.
Legal Recourse:
Consider Legal Action: If the developer fails to comply with the second notice, consider legal action.
Consult an experienced Housing Development Lawyer: Seek advice from a lawyer specialising in property law to initiate a writ action for claiming LAD. For a guide on filing a LAD claim, click on this link for a thorough explanation (https://www.luibhullar.com/liquidated-ascertained-damages)
Know Your Rights:
Statutory Right: Understand that LAD is a statutory right under the Housing Development Act (HDA), designed to protect home buyers from project delays.
Case Law Awareness: Familiarise yourself with relevant case law, such as the Ang Ming Lee decision, which reinforces your entitlement to LAD. For a list of cases post the Ang Ming Lee decision, refer to this link ( https://www.luibhullar.com/post/successful-malaysia-lad-cases-in-favour-of-homebuyers)
By following these steps diligently and seeking legal guidance when necessary, home buyers can effectively navigate the process of claiming LAD from developers, ensuring fair compensation for delays in property delivery.
Drop us a message to discover how VacantPossession.com can support you in navigating your property ownership journey effectively.
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