Part 2 – SBKBG: the Transfer and Mortgage of SBKBG

Gain understanding regarding the procedure of transfer and mortgage of SBKBG.

1. SBKBG can be transferred through sale and purchase, inheritance, tender, and other transfers of rights in accordance with applicable laws and regulations.
2. The application for the transfer of SBKBG is submitted through the SIMBG.
3. SBKBG can be mortgaged with a fiduciary guarantee.
4. The mortgage of SBKBG must be registered with the ministry who responsible for legal affairs and recorded in SIMBG.

As explained in the previous article, SBKBG is a proof of ownership status for a building, while SBKBG SUBG serves as proof of ownership status of a building unit.

Minister of Public Works and Public Housing Regulation No. 12 of 2024 on the Building Ownership Certificate also regulates the administration of SBKBG, including the transfer and mortgage of SBKBG and SBKBG SUBG.

The transfer of SBKBG can be carried out through sale and purchase, inheritance, tender, and other transfers of rights in accordance with applicable laws and regulations.

The application for the transfer of rights is submitted by the applicant through the Building Information System (“SIMBG”), accompanied by (i) the identity of the transferring party and the receiving party, (ii) the SBKBG, and (iii) the documents related to the transfer of rights. The application will be reviewed by the agency who responsible for building affairs and will then be forwarded to the agency who responsible for investment and integrated one-stop services. The transfer process must be completed within a maximum of 4 working days from the date the applicant submits the application in SIMBG.

The SBKBG can be mortgaged with a fiduciary guarantee. Such mortgage must be registered with the ministry who responsible for legal affairs and recorded in the SIMBG by attaching the applicant’s identity and the certificate of fiduciary guarantee.

The documents will be reviewed by the agency who responsible for building affairs and then forwarded to the agency responsible for investment and integrated one-stop services to be recorded in the SIMBG. The recording process must be completed within a maximum of 4 working days from the date the applicant submits the application in SIMBG.