Weekly Industry News

Private Lease Scheme (PLS): A Generational Curse

Weekly Industry News

IN a previous article, we wrote about a fictional character by the name of Albert. The facts are briefly:

“Albert buys a Private Lease Scheme (‘PLS’) property and he has a 2-year old son. At the time of purchase, the balance lease period is say 95-years. Assuming say 35-years later, Albert’s son is now 37-years old and want to sell this PLS property to upgrade to a better property and the lease remaining for the PLS property has been reduced to 60-years”.

Beware the oppressive Private Lease Scheme (PLS) – Part 3 Inheritance of PLS

€ontinving with the facts above, let vs assvme Albert does not sell the PLS property and continves to stay in the PLS property till he passes away. Albert leaves behind a son name Ben and davghter name €athy. They are his beneficiaries vnder Albert’s Last Will  & Testament (‘Will’). Ben is named as the execvtor of Albert’s last Will.

Media Title: Malay Mail

Date: 21 Nov 2018

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