Oaths and declarations act – Factory for sale in Singapore
- Making an Oath is a form of statutory declaration
- Making a false declaration amounts to 3 to 7 years imprisonment and/or fine.
Oaths and declarations act – Factory for sale in Singapore
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Bankruptcy rule for HDB sellers and buyers – Home for sale in Singapore
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 Continue reading
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Transfer to preferred creditor – House for sale in Singapore
Transfer to preferred creditor – House for sale in Singapore
The bankruptcy law provides that where a person is in financial difficulty and unable to pay his debts to his creditors, and transfers his property to one or another of his creditors which has the effect of giving that creditor a preference or advantage over other creditors, such transfer is void. The trustee in bankruptcy or the official assignee may recover the property from the preferred transferee in order to distribute its sale proceeds among the creditors according to established rules of priorities. House for sale in Singapore. Continue reading
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Town Councils Act – Property for sale in Singapore
Town Councils Act – Property for sale in Singapore
Town Councils are separate legal entities formed under the Town Councils Act. They are not supervised by HDB and are not part of HDB. Town Councils control, manage, maintain and improve the common areas of HDB residential flats and commercial property within the Town. The common areas include corridors, void decks, lifts, water tank, public lighting and open spaces, which are managed and maintained by the respective Town Councils. Property for sale in Singapore. Continue reading
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A moneylender must have a licence – Room for rent in Singapore
A moneylender must have a licence – Room for rent in Singapore
Section 5(1) of the Act provides: Room for rent in Singapore.
Every moneylender carrying on the business of moneylending in Singapore shall take out a licence.
The court will not help an unlicensed moneylender to claim back a loan. Continue reading
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How can a lender rebut the presumption that he is a moneylender? – HDB flat for sale in Singapore
How can a lender rebut the presumption that he is a moneylender? – HDB flat for sale in Singapore
Not every man who lends money at interest carries on the business of moneylending. Generally, a man who carries on a moneylending business is one who is ready and willing to lend to all and sundry. It does not mean that a moneylender can evade the Act by limiting his customers to those whom he chooses to designate as “friends”. HDB flat for sale in Singapore. Continue reading
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Moneylenders act – Singapore real estate agency
Moneylenders act – Singapore real estate agency
In the Moneylenders Act, “moneylender includes every person whose business is that of moneylending or who carries on or advertises or announces himself or holds himself out in any way as carrying on that business … but does not include ..(c) any person … carrying on any business not having for its primary Continue reading
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Syariah law on inheritance and divorce – Singapore real estate agent
Syariah law on inheritance and divorce – Singapore real estate agent
- In Singapore, the estate of a Muslim must be distributed in accordance with Islamic inheritance laws in the absence of will.
- Under Section 115(1) of the Administration of Muslim Law Act, the beneficiaries must apply to the President of the Syariah Court for an Inheritance Certificate to establish the share of each beneficiary. Muslims can only dispose of or give away 1/3 of their estate to persons who are not already entitled under the Inheritance Certificate mentioned above. Continue reading
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Civil Law on inheritance & divorce – Property agent in Singapore
Civil Law on inheritance & divorce – Property agent in Singapore
Civil Law governs: Property agent in Singapore.
1) Family matters for Non-Muslims;
2) Also Muslims in certain areas, including: Continue reading
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New en-bloc rules w.e.f June 2010 – Property agent in Singapore
New en-bloc rules w.e.f June 2010 – Property agent in Singapore
- SP are not allowed to re-start the en-bloc process within 2 years if failed on 1st attempt to get the required percentage to vote for en-bloc.
- If SP wish to restart en-bloc within these 2 years, they need to get at least 50% of SV or total number of SP to reappoint the sale committee in an EOGM. Subsequent attempts within the 2 years will need 80% instead. After which it reverts back to 20% of SV or 25% of total number of SP. Continue reading
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Land Titles (Strata) Act – Warehouse for sale in Singapore
Land Titles (Strata) Act – Warehouse for sale in Singapore
- Strata Titles under Torrens System also known as register of “air space”
- Land Titles (Strata) Act (LTSA)
- Under LTSA, the owners are called Subsidiary Proprietors (SP).
- Owners share/own the common property based on Share Value (SV) warehouse for sale in Singapore. Continue reading
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Foreign developers – Factory for sale in Singapore
Foreign developers – Factory for sale in Singapore
The Residential Property Act (RPA) mandates that ‘foreign’ housing developers– Foreign developers – that is, developers with overseas shareholders and/or foreign directors – must obtain approval to buy private residential land. Factory for sale in Singapore. Continue reading
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Conditions for approval to purchase restricted residential property – Shop for sale in Singapore
Conditions for approval to purchase restricted residential property – Shop for sale in Singapore
- Upon approval from LDAU, foreigners can only own 1 restricted residential property for his own occupation and that of his family members as dwelling houses, not for investment (i.e. cannot rent out).
- Non-disposal condition: 3 years after the date of purchase of the property, or (if reconstruction or addition and alteration works done to the property) after the date of issue of the Temporary Occupation Permit or Certificate of Statutory Completion, whichever is the earlier. Non-disposal condition will not be imposed for landed property at Sentosa Cove.
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What is non-restricted residential property under the Residential Property Act – Office for sale in Singapore
What is non-restricted residential property under the Residential Property Act – Office for sale in Singapore
A foreign person is not restricted from acquiring: office for sale in Singapore
- Any apartment within a building; any unit in an approved condominium development under the Planning Act; and
Note: A foreign person is not allowed to acquire all the apartments within a building or all the units in an approved condominium development without the prior approval of the Minister for Law. Continue reading
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What is restricted residential property under the Residential Property Act – Real estate for sale in Singapore
What is restricted residential property under the Residential Property Act – Real estate for sale in Singapore
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes. Real estate for sale in Singapore.
- Vacant residential land Continue reading
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Foreign ownership of properties – Apartment for sale in Singapore
Foreign ownership of properties – Apartment for sale in Singapore
Since 1973, the Singapore Government has imposed restrictions on foreign ownership of private residential property in Singapore. Such ownership is governed by the Residential Property Act (the Act). Apartment for sale in Singapore. Continue reading
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Giving false information – Condo for sale in Singapore
Giving false information – Condo for sale in Singapore
Any person, who in relation to any application to the Board for its approval under this Act concerning any sale or rental of a HDB flat, makes any statement to the Board which is false shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 6 months or to both. Condo for sale in Singapore.
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Board may compulsorily acquire property sold – Home for sale in Singapore
Board may compulsorily acquire property sold – Home for sale in Singapore
The Board may compulsorily acquire any HDB flat sold – Home for sale in Singapore.
(a) if the owner thereof and his spouse, if any, has, in the opinion of the Board, ceased to occupy the same;
(b) if the owner thereof, his spouse or any authorised occupier has at any time acquired whether by operation of law or otherwise any title to or an estate or interest in any other flat, house or building or land; Home for sale in Singapore. Continue reading
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Transfer of flat, house or other building on death of owner – House for sale in Singapore
Transfer of flat, house or other building on death of owner – House for sale in Singapore
Transfer of a HDB flat on the death of an owner, whether testate or intestate, or any transfer by the personal representatives of a deceased owner of a HDB flat must be with the written consent of the Board. For example, on the death of one of the joint owners, the survivor or representative should inform the branch office immediately with a copy of the death certificate. House for sale in Singapore. Continue reading
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Property not to be used as security or attached, etc., and no trust in respect thereof to be created without approval of Board – Property for sale in Singapore
Property not to be used as security or attached, etc., and no trust in respect thereof to be created without approval of Board – Property for sale in Singapore
Any contract or agreement that directly or indirectly uses HDB flats (or the proceeds of sale of HDB flats) as security or collateral for any debt, obligation or claim shall be null and void. Property for sale in Singapore. Continue reading
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