Escrow Account For Malaysia's Real Estate Sector?
Adriana Abu, Legal Advisor, The National House Buyers Association of Malaysia
23-Aug-24 08:30
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The Housing & Local Government Ministry is looking to set up escrow accounts for housing projects to ensure payments by homebuyers are used solely for the properties they have bought. The current practice allows a developer to use purchasers' funds for any of their projects. Adriana Abu, the legal advisor of the National Homebuyers' Association Malaysia shares her views on this proposal.
Image Credit: shutterstock.com
Produced by: Natalie Tan
Presented by: Wong Shou Ning, Keith Kam, Philip See
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Categories: property, financial wellness
Tags: escrow account, malaysia real estate, property sector,