Multiple interests in the same land – Real estate for sale in Singapore
Multiple interests in the same land can co-exist at the same time, for example. Real estate for sale in Singapore.
- The owner’s freehold interest in the property
- The mortgagee’s interest in the property because the owner took a bank loan
- The tenant’s interest in the property for a specific period because the owner leased the property
Real property rights
In real estate law, the ownership of land has property rights attribute. Singapore property for sale/ rent. This bundle of rights usually refers to the following:
- Right of possession – the property is owned by the owner who holds the title
- Right of enjoyment – the right to use and enjoy the land in any manner the owner may deem fit.
- Right of control – the right to control the use of the property including for example the right to collect rent from leasing out the land.
- Right of disposition – the right to transfer the land to others, for example in a sale or assignment.
- Right of exclusion – the right to exclusive possession. For example if an owner leases property to a tenant, it entitles the tenant to assert the right of exclusive possession against anyone, including the owner.
Not every person with an interest in a property may be able to exercise all possible property rights. It depends on the terms of ownership. For example, as a lessee of a property, the tenant may not sell the property because even though the tenant has the right of exclusive possession, he does not have the title to transfer. Real estate for sale in Singapore.
Condominium
The minimum size of a condominium is 0.4 hectares (about 43,000 sq ft). The maximum site coverage allowed for condominium development is 40% (including covered car parks). It usually has facilities such as swimming pool, club house, landscaping, security guard, etc. With effect from 3 April 2012, any proposed development consisting of a mix of strata landed and apartments units will no longer be accorded condominium status. Only residential developments comprising purely apartment units and complying with the condominium guidelines will continue to be approved as condominiums.
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