The Land Titles (Strata) (Amendment) Act, enacted by Parliament on May 18, will take effect from 15 July 2010. The key provisions of the new Act include: * Refinement of the Strata Titles Board's role to focus on mediation for en bloc sale applications. * Imposition of a two-year restriction period, from the date of the initial failed en bloc attempt. The first retry requires approval from 50 per cent...
Strata Titles Board
New rules come into effect today The rush to complete the process of a couple of en bloc sales this month have probably paid off for the owners. This is because if there had been any delay, their properties would be subject to new en bloc rules which will come into effect today. Two recent en bloc sales sealed this month are the People's Mansion at Lorong 31 Geylang sold for $42.68 million, and Meng...
Changes to the Land Strata Titles Act will be effective from Thursday, 15 July, after the Amendment Act was enacted in Parliament on 18 May. The amendments seek to provide more clarity to the en bloc sales process and balance the interest of property owners. Among them, a two-year restriction period will be imposed starting from the date an initial collective sale attempt failed. The objective is to...
A former Strata Titles Board officer has been charged in court on Thursday for two offences of cheating and providing false information. The case revolves around a quote for transcribing services for the board. The court heard that the accused, 25-year-old Hong Shihui and another person, Rajasvarai d/o Radhakrishnan, had prepared a quotation which was sent to the board's Registrar for approval. However,...
Judge sets out role of Strata Titles Board and which of its findings can be challenged IT IS a situation that may apply to some en bloc deals: The selling price could have been higher if the sales committee or its agent had tried harder to secure a better deal. In the case of Horizon Towers, a potential buyer was even standing by with a higher price than the one that was eventually chosen. But that...