In lecture 6 =- we looked at lending and borrowing as whole. In the lending and borrowing, we visited issues on security and we learnt that we could take security over real estate by way of a mortgage - whihc then leads us to lecture 7.
A good legal regime in real estate provides investor confidence both from the buyer point of you and the lender - the lender so that he can take good secured colaterals over the real estate. If the legal regime is bad - confidence low, people will shy away from real estate. so from a buyers perspective - a good legal regime will provide confidence that the assets that he has acquire is actually his and he able to deal with it in such a way as he pleases.
We therefore introduced several concepts in lecture 7 :
1) The Torrens Systems of land registration which depended largely on the requirement of registering your rights and once registered they become indefeasible.
2) The meaning of indefeasible and how it has been tetsed by a series of cases;
3) A torrens system mortgage - providing ease and confidence in securing your real estate in return for loans and the use of Caveats in securing future legal interest;
4) The regulation of strata title properties and the role of the Body Corporate;
5) Purchasing off plan properties - the benefit and risk;
6) The manner of holding properties - Joint Tenancy v Tenants in Common
You can find most of the materials in your text book and the slides but I found the followoing links useful in soem of the above topics:-
On the torrens system title:
http://en.wikipedia.org/wiki/Torrens_title
On off plan purchases:
http://www.lawyersconveyancing.com.au/plan.asp
On strata titled properties:-
Enjoy.
SK
hi sir,
ReplyDeletefor off plan purchase, it means buying direct from the developer before the property is being fully constructed?
1) wat abt buying from investor who buy from the developer before the property is being constructed? considered off plan?
2) is joint venture to build 5 apartments on a piece of land(between a group of maybe 5 small individual investors ) with one of them in charge of developing and 4 other contributing same amount of $$ considered a off plan?
3) for torren, do we refer to OZ example or SG example?
4) how will investor be affected if he/she have outstanding dispute with developer and refused to pay the last outstanding instalment? wat is the max yrs for recourse and can developer refuse to hand over the title and put the property for aunction w/o buyer knowledge? are this part of risk for off plan purchase?
is stamp duty payable for off plan in singapore?
ReplyDeleteis stamp duty payabe for joint venture in singapore?
awesome! thank you!
ReplyDeletestamp duty is payable for off plan in singapore
ReplyDelete