Real Estate Trust: Holding Property in Malaysia 房地产信托：在马来西亚持有房产
Learn how holding real estate through a corporate trustee avoids fractional joint-ownership, secures tax benefits, and structures wealth transmission. 了解通过法人受托机构持有房地产如何避免零碎的共同所有权、获得税收优惠，并构建财富传承通道。
By TrusteeMalaysia.com Editorial Team | Published: June 10, 2026 作者：TrusteeMalaysia.com 编辑团队 | 发布时间：2026年6月10日
1. The Concept of a Real Estate Trust 1. 房地产信托的概念
A Real Estate Trust is a legal structure where property titles (land, residential houses, commercial buildings) are transferred by the owner (settlor) to a licensed trustee company. The trustee becomes the registered owner on the land title (holding legal title) under the National Land Code 1965, but does so solely for the benefit of the specified beneficiaries (holding beneficial title) under a comprehensive trust deed. This structure allows the settlor to retain control over how the property is used, sold, or inherited without physically holding the title in their individual name. 房地产信托是一种法律结构，房产所有权（土地、住宅、商业大楼）由所有者（委托人）转让给持牌的受托机构。根据《1965年国家土地法令》，受托人在地契上成为登记所有者（持有法定所有权），但其完全是依据一份详尽的信托契约，为了指定受益人的利益（持有受益所有权）而持有。这种结构使委托人能够保留对房产如何使用、出售或继承的控制权，而无需在其个人名下持有地契。
Real estate is often one of the most valuable and least liquid components of a person's estate. If not planned properly, properties are prone to severe legal blockages upon the owner's passing. Holding them in a real estate trust provides a continuous, institutional management framework that survives the settlor. 房地产往往是一个人遗产中最具价值且流动性最差的组成部分之一。如果规划不当，在所有者去世时，房产极易面临严重的法律阻碍。在房地产信托中持有它们，可以提供超越委托人生死限制的持续性机构化管理架构。
2. The Pitfalls of Joint Ownership and Fractionation 2. 共同所有权与股份零碎化的陷阱
When a person dies without a will or leaves a property to multiple heirs equally in a will, the property title is divided. In Malaysia, this leads to fractional joint-ownership. For example, if a father leaves a commercial building to his three children, each owns a 1/3 share. This fractional ownership creates huge bottlenecks. Any decision to sell, lease, or renovate the property requires unanimous consent from all joint-owners. If one child refuses to sell or wishes to live in the property without paying rent, the other two children are trapped in a legal gridlock. 当一个人在没有立遗嘱的情况下去世，或者在遗嘱中将一处房产平等地留给多个继承人时，该房产的所有权就会被分割。在马来西亚，这会导致零碎的共同所有权。例如，如果父亲将一栋商业大楼留给他的三个孩子，那么每个孩子都拥有三分之一的份额。这种零碎的所有权创造了巨大的瓶颈。任何关于出售、出租或翻新房产的决定都需要所有共同所有者的一致同意。如果一个孩子拒绝出售，或者希望在不支付租金的情况下居住在该房产中，其他两个孩子就会陷入法律僵局。
Furthermore, if one of the children later passes away or goes bankrupt, their 1/3 share inherits to their own family or is seized by insolvency officers, introducing complete strangers into the joint-ownership. A real estate trust avoids this fractionation. The trustee holds the sole legal title to the property, while the trust deed outlines how the rental income is distributed among the beneficiaries or how the proceeds are divided if the trustee sells the property. The property remains intact, and management is centralized. 此外，如果其中一个孩子随后去世或破产，其三分之一的份额将由其自己的家庭继承或被破产官查封，从而将完全陌生的人引入共同所有权中。房地产信托可以避免这种零碎化。受托人持有该房产的唯一法定所有权，而信托契约则规定了如何在受益人之间分配租金收入，或者在受托人出售房产时如何分配收益。该房产保持完整，管理高度集中。
3. Tax Implications: Stamp Duty and RPGT in Malaysia 3. 税收影响：马来西亚的印花税与皇家房地产收益税（RPGT）
Transferring real estate into a trust involves tax considerations. In Malaysia, stamp duty on share and property transfers is governed by the Stamp Act 1949. Typically, ad valorem stamp duty applies to property transfers based on the market value of the property (ranging from 1.0% to 4.0%). However, under the Stamp Duty (Exemption) orders, transfers between family members (parents to children, spouse to spouse) may qualify for nominal or partial stamp duty exemptions. Transferring a property to a trust company where the settlor and the beneficiaries are family members can sometimes be structured to minimize stamp duty exposure, but it must be done with professional legal guidance. 将房地产转入信托涉及税务方面的考虑。在马来西亚，股份和房产转让的印花税受《1949年印花税法令》管辖。通常情况下，根据房产的市场价值，从价印花税适用于房产转让（比例在1.0%至4.0%之间）。然而，根据《印花税（免税）令》，家庭成员之间（父母对子女、配偶对配偶）的转让可能有资格获得名义上或部分的印花税免除。将房产转让给受托人且委托人与受益人为家庭成员的信托，有时可以通过合理架构来降低印花税开销，但这必须在专业法律指导下进行。
Additionally, Real Property Gains Tax (RPGT) under the Real Property Gains Tax Act 1976 applies to gains made on the disposal of real property. Transferring a property to a trustee company is technically a disposal. However, if the transfer is structured as a transfer to a trustee for the benefit of the settlor or their close family, it may qualify for "no gain no loss" status, meaning RPGT is deferred. Professional advice is critical to ensure these exemptions are correctly applied. 此外，根据《1976年房地产收益税法令》，房地产收益税（RPGT）适用于处置房地产所获得的收益。将房产转让给受托公司在技术上属于处置行为。然而，如果该转让被设计为以委托人或其直系亲属为受益人的受托人转让，则可能有资格获得“无收益无损失”地位，这意味着RPGT被延迟。专业的咨询对于确保正确应用这些豁免至关重要。
4. Setting Up and Estimated Cost Structure 4. 设立与估算费用结构
To set up a real estate trust, the owner must draft a Trust Deed specifying the property details, the trustee's powers, the conditions for selling or maintaining the property, and the distribution rules. The title is then officially transferred to the trustee at the land office (Pejabat Tanah) via Form 14A of the National Land Code, with a Trust Caveat registered to protect the beneficiaries. 要设立房地产信托，所有者必须起草一份信托契约，具体说明房产细节、受托人的权利、出售或维护房产的条件以及分配规则。然后，通过《国家土地法令》第14A表格，在土地局（Pejabat Tanah）正式将所有权转让给受托人，并登记“信托禁令”（Trust Caveat）以保护受益人。
The cost to establish a real estate trust varies based on the property's valuation and the complexity of the trust deed. Generally, the setup cost for a single-property trust ranges from RM5,000 to RM15,000. This excludes the land office registration fees and any stamp duty/legal fees for the transfer. The annual trustee custody and administration fee is typically a flat rate ranging from RM1,500 to RM4,000, depending on whether the property is tenanted (requiring rental collection and property management) or vacant. Compared to the potential loss of value from forced property liquidation or legal disputes, a property trust is a highly effective security measure. 设立房地产信托的费用因房产的估值和信托契约的复杂程度而异。通常情况下，单一房产信托的设立费用在5,000令吉至15,000令吉之间。这不包括土地局登记费以及转让所需的任何印花税或法律服务费。年度受托人托管和管理费通常是固定费用，在1,500令吉至4,000令吉之间，具体取决于房产是已出租（需要收取租金和管理房产）还是空置。与因被迫清算房产或法律纠纷而导致的潜在价值损失相比，房地产信托是一项非常有效的安全保障措施。
Disclaimer: This content is for educational purposes only and does not constitute legal or financial advice. 免责声明：本内容仅供学习参考之用，并不构成任何法律或财务建议。
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