Leasehold Property Duration With Individual Grant

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This is different from leasehold properties. This property is leased to you by the government for a period, usually 99 years. When the lease period is about to end, you have to renew the period by paying a land premium. Otherwise, the state government will take back the land.

Also read: Freehold vs Leasehold: Which is Better?

Most leasehold land has restrictions. Any transfer requires australia email list permission from the state government. That's why the process of transferring ownership of leasehold properties usually takes longer. If a freehold property is completed within 3 months, a leasehold property will take around 6-7 months from the date of the sale and purchase agreement . So, plan your purchase carefully.

3) Longer Duration In The Following Situations
There are also some circumstances that will make the buying and selling process take longer. First of all, if you are buying a controlled property like the Malay Reserve or a low-cost house. The process of transferring ownership of this property requires permission and will take an extra 2-3 months .