Identification of property – Home for sale in Singapore
The identification of property is not from the address of the property. It is identified by the district (Mukim or Town Subdivision) and the lot number. Home for sale in Singapore. Home for sale in Singapore.
Under the Boundaries and Survey Map Act, land inSingaporeis demarcated into 64 districts as follows. Home for sale in Singapore:
- There are 30 Town Subdivisions (TS) districts in the town area.
- There are 34 Mukim (MK) districts in the rural area.
Under the Lot Base System (LBS), lot numbers are of 3 types as follows:
- The land lot number is for Certificate of Title property e.g. MK 10 Lot 123X. The land lot number does not have any letter after the MK/TS number. An example of a Certificate of Title property is a bungalow.
- The strata lot number is for Subsidiary Strata Certificate of Title property e.g. MK 20 Lot U123X. The strata lot is identified by the letter “U” after the MK/TS number. An example of Subsidiary Strata Certificate of Title property is a Condominium.
- An example of an accessory lot is a car park lot that comes with a strata lot e.g. MK 30 Lot A123X. The accessory lot is identified by the letter “A” after the MK/TS number. The accessory lot must be sold with the strata lot.
Definition of real property
Property is classified into two main types – real property or personal property. Real property refers to the land and all things attached to it such as houses, buildings and fixtures and they are immovable. Personal property refers to movable items such as furniture, refrigerators, cars, etc. home for sale in Singapore.
Interests in land
An interest in land refers to the type of ownership in land, and determines the duration of an individual’s right of possession and right of use. The various types of interests in land include the following:
- Freehold estates are mainly of two types as follows:
- Estate in fee simple
- Estate in perpetuity
- Leasehold estates are of definite duration such as 9999 years, 999years, 99 years or even shorter terms like 60 years, 30 years, etc
- Future interests in land such as reversionary interest
- Interest in another land such as easements
- Mortgages using property as collateral
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