A Review of the Issues and Challenges of Immovable Property Auction Process in Malaysia

Abstract

The public auction process for immovable property is a legal procedure employed to invalidate the rights of original owners who have breached a contract. Banks will liquidate distressed assets when a borrower defaults on their mortgage. A significant knowledge gap exists about the auction processes for immovable property in Malaysia. This study seeks to fill this gap by analysing current literature, collecting secondary data, and highlighting the necessity for greater standardisation in public auction procedures. The findings provide substantial advantages for parties in property auctions and seek to improve the auction process through the establishment of standardised procedure.