{"id":2936,"date":"2021-04-14T11:49:06","date_gmt":"2021-04-14T03:49:06","guid":{"rendered":"https:\/\/yhalaw.com.my\/?p=2936"},"modified":"2022-10-31T09:36:12","modified_gmt":"2022-10-31T01:36:12","slug":"moneylending","status":"publish","type":"post","link":"https:\/\/yhalaw.com.my\/zh\/moneylending\/","title":{"rendered":"ILLEGAL MONEY LENDING \u2013 SPA AND MOT AS SECURITY FOR THE LOAN"},"content":{"rendered":"
I took a loan from Mr. X (who is not a licensed money lender). Mr. X asked me to execute a Sale and Purchase <\/em><\/strong>Agreement (\u201cSPA\u201d) and Memorandum of Transfer (\u201cMOT\u201d) of my property to him as security for repayment of the loan. Later, I discovered that my property was transferred to Mr. Y. Can I recover back my property and have it re-registered in my name? But the property has been transferred to Mr. Y who is not the money lender. Does he have a good title? What is a bona fide purchaser for valuable consideration?<\/em><\/strong><\/p>\n Case in point: Pannir Selvam a\/l Sinnaiyah & Anor v Tan Chia Foo & Ors [2021] 7 MLJ 384. High Court (Johor Bahru) \u2013 Civil Suit no: JA-22NCvC-273-12 of 2017<\/em><\/p>","protected":false},"excerpt":{"rendered":" Illegal moneylending transactions and nullity of SPA and MOT as security document<\/p>","protected":false},"author":9,"featured_media":2941,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1567],"tags":[1803,1802,1804],"yoast_head":"\n
\n<\/em><\/strong>Yes. <\/strong><\/p>\n\n
\n<\/em><\/strong>Depends.<\/strong><\/p>\n\n
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