Personal Finance Term
MOT
Memorandum of Transfer
The legal instrument that transfers property ownership from the seller to the buyer and registers it at the land office. Stamp duty on the MOT is a major upfront cost of buying a home.
The MOT (Form 14A under the National Land Code) is used when a property has an individual or strata title that can be transferred to the buyer's name. Once executed, stamped, and registered at the relevant land office, you become the registered owner. For properties that do not yet have a separate title — common with new high-rise developments — a Deed of Assignment is used instead until the individual or strata title is issued, after which the MOT can be done.
MOT stamp duty is charged on a tiered scale based on the property's value and is typically the single largest transaction tax a buyer pays, so factor it into your cash budget. Your conveyancing lawyer handles the preparation, stamping, and registration. Delays in title issuance for new developments mean the MOT and its duty can fall due years after you first move in, so set the money aside in advance.