Norisah Ibrahim shares the reality of the Islamic unclaimed assets

PETALING JAYA: Currently, there are over RM66bil worth of Islamic property that is unclaimed in the country, as reported BY the Department of Director General of Lands and Mines (JKPTG) through the Estate Distribution Division (BPP).

“The scene of family members disagreeing in managing assets is often depicted on a TV drama, but this is also the reality of what is happening in the country,” said Islamic estate planner Norisah Ibrahim.

Norisah said the problems are particularly acute in matters of estate management among the heirs within the Muslim community, where most of the settlements ended with disputes, especially on appointing an administrator.

"The heirs fighting to appoint different administrators usually ends up in chaos, especially if the property is worth millions of ringgit.

"It is difficult to reach a consensus and the quarrel usually overweighs the consensual agreement.

"When a lot of disputes happen and none comes into an agreement, then the process to complete the assets settlement will also be delayed," said Norisah.

She added that not knowing how to manage your property and assets is also the main cause for frozen assets.

According to Norisah, the knowledge of managing one’s assets and property, especially for the Muslim community is still low, and they should be educated.

"It is always good to appoint an administrator during the early stages of life. If we were to pass away someday, the administrative processes to manage the property would be easier.

"It will also help to clear debts and safeguard the family, especially the young children," she said.

Norisah were among the speakers in conjunction with the Konvensyen Hartanah organised by StarProperty.my.

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Those who registered at wah.starproperty.my or purchase a house at any StarProperty.my fairs will stand a chance to win a home worth over RM500,000 at Section 13, Petaling Jaya.

Visit fair.starproperty.my for more information.