Chapter 2: Land Dealings
This is important when you intend to buy land. Normally in building properties we deal with non-bumi and bumi lot. To land, it is generally the same thing.
Anything from TL, CL and PL are to be trade freely among Malaysian (all races) and foreigners (with conditions attached). Hence the bank-able value for this type of land are generally higher and widely accept by all banks. So this is the best choices of land to invest in and save alot of yada yada yada fees prior to development (cover this part in the later chapter).
NT are only to be trade among natives only or those who own Sijil Anak Negeri a.k.a. Bumi certificate. And the bank-able value are lower due to restriction dealings between natives and not all banks can accept NT land for financing purpose. Any other races other than native itself or foreigners that wants to buy NT land are to nominate a nominee to hold the land on behalf. However, do this at own risk because there are several court cases arise due to nominee issue. So get a very very very experience lawyer in NT land dealing.
Malay reserve is almost the same thing as NT but this is Strictly among Malay race not those who embrace Islam as religion can be consider as Malay. Same nominee issue with NT if other races intends to buy this type of land. So in general, most people shun from Malay reserve land.
TOL are leases granted by State Government for other usage such as extraction of timber, sand, rock, minerals etc. It is normally granted to Sdn Bhd company rarely individuals (never met those who own it individually). And TOL are not transfer-able nor sell-able. However, one can always buy over the Sdn Bhd which owns the TOL with or without the consent from State Government (depending on conditions).
In a nut shell, do an official search at land office just to confirm the land type and its restriction if any; before acquiring the land.
Disclaimer: The article above is solely for reference purpose and any legal issue please consult a lawyer for proper legal advices.