Harta Tidak Dituntut : Punca Dan Kaedah Penyelesaiannya = Unclaimed Property : Factors and Solutions

Wajis, Nik Rahim Bin Nik; Sahid, Mualimin Mochammad; Rahman, Azman Ab

doi:10.12816/0051395

Cited by 6 publications

(12 citation statements)

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“…More worrying is that this figure is expected to increase even more by 2020. This amount includes properties such as houses and land, as well as money from various financial institutions in Malaysia (Nik Wajis et al, 2018). For unclaimed assets in the Amanah Raya Berhad (ARB) itself, as of June 2017, the amount has reached RM315 Million (Kamarudin et al, 2019).…”

Section: Increased Unclaimed Property and Its Effect On The Economymentioning

confidence: 99%

The Analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects

Abdullah

Awang

Muhamad

2022

UUM Journal of Legal Studies

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Efficient and effective Islamic estate planning not only provides convenience to Muslim but also capable of driving national economic progress and development. One of the instruments of Islamic estate planning is trust instrument which is based on Civil Law. The effect of not implementing the trust at an early stage can be seen in the property acquired as it is not managed effectively and indirectly harms the beneficiary. Therefore, this study will try to identify what are the challenges in the implementation of trust, which is not implemented efficiently and looking at the effects of late Islamic estate planning during a lifetime. This study is a qualitative study by analyzing previous articles, related statutes, and looking at the application of trust instrument in trust institutions in Malaysia. To achieve the objectives of this study, the authors conducted interviews with officers at Amanah Raya Berhad (ARB), which is the largest Public Trustee in Malaysia and this year has reached the 100th anniversary of its establishment. The finding of the study found that the trust instrument has significant effects in assisting Islamic estate planning. In conclusion, Islamic estate planning during a lifetime should not be taken lightly by society as it is detrimental to the family and national economy.

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Section: Increased Unclaimed Property and Its Effect On The Economymentioning

confidence: 99%

The Analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects

Abdullah

Awang

Muhamad

2022

UUM Journal of Legal Studies

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“…i. Aspek Perundangan Pada dasarnya, perundangan yang digunapakai dalam pengurusan harta pusaka ini adalah berbeza mengikut nilai harta peninggalan si mati (Nik Wajis et al, 2018). Misalnya, bagi nilai harta pusaka yang melibatkan tidak lebih daripada RM2 juta, permohonan pembahagian harta pusaka kecil boleh dibuat di Pejabat Tanah Jajahan negeri-negeri di Malaysia (Akta Harta Pusaka Kecil (Pembahagian), 1955).…”

Section: 20 Cabaran Terhadap Tanah Pusaka Terbiar DI Malaysiaunclassified

“…Sungguhpun begitu, isu mengenai pembahagian harta pusaka merupakan isu yang membimbangkan terutamanya dalam kalangan masayarakat Islam dan perkara ini sering dibangkitkan dalam media sosial serta dibincangkan dalam kajian-kajian lepas, antaranya dalam kajian 'Masalah kegagalan dan kelewatan pengagihan harta pusaka di Malaysia' (Abdul Rashid & Yaakub, 2010); 'Kesan lewat urus pembahagian harta pusaka' (Farahadmin, 2021); 'Kaedah agihan bahagian harta pusaka dalam kes Al-Haml' (Salleh & Mahamood, 2019); 'Faktor-faktor yang mempengaruhi harta pusaka beku di Malaysia' (Wan Hasin et al, 2016)(Wan Suraya Wan Hassin et al, 2016; 'Permasalahan tuntutan harta sepencarian dalam pembahagian harta pusaka' (Ahmad, 2021); dan 'Harta tidak dituntut: punca dan kaedah penyelesaiannya' (Nik Wajis et al, 2018) (Wajis et al, 2018). Rentetan itu, menurut laporan akhbar, pada tahun 2007, jumlah harta pusaka yang tidak dituntut mencecah RM40 bilion (Berita Harian, 2007).…”

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Challenges of Idle Small Estate Issues and Potential Solution/ Cabaran Isu Tanah Pusaka Terbiar Dan Potensi Penyelesaian

Abu

Hamid

Abdullah

et al. 2022

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Small estates are the property and all rights left by the deceased that belong to him during life and will belong to the heirs after his death. Every year, the issue of these idle small estate assets has been reported to be on the rise, which is now a challenge to resolve. Therefore, the main objective of this study is to examine the challenges that led to the issue of idle small estates as well as the potential that can be highlighted in helping to develop and at the same time resolve the issue of these idle small estates. The research methodology is qualitative by using content analysis on previous studies through reference to journals, articles, books, papers, and other relevant written materials to describe the issues, challenges, and potential to resolve the issue of idle small estates in Malaysia. The issues, challenges, and potential solutions of this idle small estate are analyses descriptively and thematically to discuss the results of the study more systematically. The results show that there are four aspects of the challenge that have been identified as drivers of the issue of idle small estates in Malaysia. Aspects of the challenge refer to legal, administrative, social, and economic issues. Findings on the potential to resolve this issue refer to the strengthening of the implementation of policies and legislation; the strengthening of the system of governance; the strengthening and increased involvement of the community; and the increased availability of needs in rural areas. This study can be beneficial for all levels of society, especially Muslims, as well as the parties responsible for these small estates to be more effective in overcoming and at the same time resolving the issue of idle small estates in Malaysia.

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“…Attitudes and ethical practices of some of the heirs also affect the administration of inheritance property, such as procrastination, infighting amongst heirs, concealing the list of heirs apparent and breach of trust. Procrastination and infighting amongst heirs will lead to an overlap in deaths of succeeding generations, which will complicate the distribution of the inheritance property and take a long time to settle (Sulong, 2011; Ahmad & Laludin, 2010; Wajis et al, 2018).…”

Section: Unclaimed Inheritance Propertymentioning

confidence: 99%

“…The jurisdiction of each institution is subject to the type and total amount of the property. However, not all of society is aware of the procedures regarding the distribution of inheritance property as well as which authority should be approached when a death occurs (Ahmad et al 2018). This leads to the public referring their case to unrelated authorities, such as banks or Takaful agents, which creates the perception that managing inheritance property distribution is a tedious and complicated affair.…”

Section: Introductionmentioning

confidence: 99%

The Unclaimed Inheritance Issues: A Solution Using Blockchain Technology

Fokri¹,

Ali²,

Nordin³

et al. 2021

pae

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Unclaimed inheritance retards the economy as well as the continuity of life, especially for beneficiaries who are less capable. Recorded cases of unclaimed inheritance have seen a yearly rise, and this also has an effect on the Malaysian economy, mainly due to the failure to distribute immoveable property, such as the failure to transfer the ownership of land and houses. This causes the land to become abandoned and underdeveloped. Hence, various measures are needed to solve the unclaimed inheritance problem and contemporary technology should be fully utilised to overcome this problem. This study intended to explore the benefits of blockchain technology for solving the unclaimed inheritance problem. Blockchain technology is a database system that replaces the traditional system with various advantageous, which makes organisational management more effective and systematic. This technology supports the implementation of a smart contract, which acts as a medium for managing inheritance distribution to ensure no beneficiaries is left out and receives the rightful share. A smart contract is an agreement in digital form that uses a certain protocol and only applies to the relevant parties. This study applied the qualitative approach and a descriptive research design. Data collected through document analysis and interview methods. Data from the document analysis method involved primary and secondary sources, while the semi-structured interview method was used for field studies. Findings showed that the blockchain technology is an appropriate solution for solving unclaimed inheritance problems. However, a blockchain based smart contract requires the cooperation between the party authorised to distribute inheritance property and the banks as well as other government agencies in order to ensure that the inheritance distribution process is carried out smoothly. This study benefits the authorities in charge of inheritance management as well as act as a guide for future researchers. This study offers a theoretical solution for solving the distribution of unclaimed inheritance by using blockchain based smart contract.

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Harta Tidak Dituntut : Punca Dan Kaedah Penyelesaiannya = Unclaimed Property : Factors and Solutions

Cited by 6 publications

References 0 publications

The Analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects

The Analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects

Challenges of Idle Small Estate Issues and Potential Solution/ Cabaran Isu Tanah Pusaka Terbiar Dan Potensi Penyelesaian

The Unclaimed Inheritance Issues: A Solution Using Blockchain Technology

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