Defect Liability PeriodThe duration of time whereby a developer/contractor must repair any defect identified after a particular property has been duly completed or handed over.
Strata TitleA title to a unit or lot on a plan of subdivision associated with townhouses as well as units and blocks of highrise residences, apartments, condominiums or commercial office units which are based on the horizontal and vertical subdivision of air space. Owners have a certificate of title, are absolute owners of the property and have an undivided share of the common property.
Vacant PossessionThe ownership of a vacant or unoccupied property, where the previous owner or tenant has vacated the property.
Capital GainThe positive gain made from the sale of a property by which your property has increased in value relative to what you have paid for it. Simplistically, if you bought a property for RM300,000 and it's now worth RM550,000, you've made a capital gain of RM250,000.