Bankruptcy rule for HDB sellers and buyers – Home for sale in Singapore
If a HDB seller is a bankrupt and if all the owners are Singapore Citizens (SC), the seller does not need to obtain letter of consent from Official Assignee (OA) before selling. If all the owners are Singapore Permanent Residents (SPR) and if the seller is a bankrupt, the seller needs to get OA’s consent before selling. Home for sale in Singapore
If a HDB buyer is a bankrupt,
- The bankrupt buyer of HDB 5-room flat or smaller does not need to obtain a letter of consent from the OA.
- The bankrupt
- buyer of HDB Executive flats must obtain the letter of consent from OA.
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