Dealing With Interests In Land

Question 1

What are the 2 main security instruments provided by LTA?

Answer 1

Mortgage

Charge

Question 2

How many months in advance must mortgagee give to mortgagor before taking possession?

Answer 2

1 month

Question 3

How many types of mortgages are there?

Answer 3

2

Floating and Fixed

Question 4

How many types of floating mortgages are there?

Answer 4

4

Prime rate

Broad rate

SIBOR administered by Association of banks in singapore

SOR USD To SGD

Question 5

For gift of property, what must be entered between the transferor and transferee?

Answer 5

Deed of gifts

Question 6

How many years, from the date of the relevant bankruptcy application, would the gift be voidable?

Answer 6

5 years

Question 7

How are trust created?

Answer 7

Express intention through inter vios trust

Will of the testator

Operation of law : Implied trust
Law would determine the money stole from A to buy an apartment and give the rights of apartment to A

Question 8

What are the 2 conditions for one to make a will?

Answer 8

At least 21 years of age

Sound mind

Question 9

What are the qualities of executor or trustee?

Answer 9

At least 21 years of age

Cannot be undischarged bankrupt

Question 10

What cannot be included in will?

Answer 10

CPF monies, insurance policies, joint assets

Question 11

For testate cases, what is issued by court?

For intestate cases, what is issued by court

Answer 11

Grant of probate

Letter of administration

Question 12

What is Muslim intestate law?

Answer 12

Faraid

Question 13

How many types of possible deductions are there under faraid?

Answer 13

6

Gifts - hibah

Joint matrimonial asset

Vows- nazar

Debts to person

Funeral expenses

Debts to Allah(SAW)

Question 14

Under Muslim Law, what is the maximum one can will away after dedecutions?

Answer 14

1/3

Question 15

What are the 2 forms of co-ownership in singapore?

Answer 15

Joint tenancy

Tenancy in common

Question 16

For joint tenancy, does right of survivorship effects?

Answer 16

Yes

Question 17

By joint tenancy, how many unites are there?

Answer 17

4

Unity of Possession–Co share

Unity of Interest - Co interest

Unity of title–constitute a single tenant

Unity of time-

Question 18

Ways to terminate or change the Joint tenancy agreement?

Answer 18

3

By alienation

By partitioning through mutual agreement
Court case Implications, voluntary split

By partitioning via court order
Divorce case- court splits proceedings of home

Question 19

What is the minimum age for one to sign a lease not exceeding 3 years?

Answer 19

18

Question 20

Can ur donee still be ur LPA if discharged bankrupt?

Answer 20

No

Question 21

After divorce, can ur ex spouse still be ur LPA?

Answer 21

No

Question 22

Can societies hold land?

Answer 22

No.. Only trough trustee

Question 23

How many trustee minimally should there be for societies?

Answer 23

2 trustee, no more than 4

If one, it must be a trustee corporation

Question 24

What are properties foreigner (PR included(+) can buy?

Answer 24

Apartments

Condo

Shop houses commercial

Hotels

Industrial and commercial properties

EC, HDB, HDB shops (PR)

Strata landed in condo

leasehold estate in landed residential properties not exceeding 7, years, including OTRenew

Question 25

Validity of LDAU approval?

Answer 25

6 months from date of approval

Question 26

Is there extension for LDAU approval?

Answer 26

No

Question 27

Processing time for LDAU application?

Answer 27

20 working days

Question 28

Restriction on property foreigner can buy?

Answer 28

1) land area of property not exceeding 1393.5sqm or 15000 sqft 2) not situated in GCB areas

Question 29

Conditions of approval for foreigners to buy?

Answer 29

1) solely for own occupation and not any form. Of rental 2) shall not dispose within 5 years from date of legal completion of purchase OR 5 years from date of issue of TOL /Certificate. Of statutory completion (whichever is earlier) 3) no subdivision of property without approval

Question 30

Can foreigner buy vacant land?

Answer 30

Yes. Where approval is granted, require to complete construction within 3 years from date of letter conveying decision.

Question 31

Requirement to buy another restricted properties for foreigner?

Answer 31

Following conditions. 1) fulfil 5 year non disposal of property 2) if new property is under construction, within 3 months after TOL or Certificate of statutory completion is issued, whichever is earlier 3) if it's ready property, to dispose within 3 months after vacant possession even if title is not ready

Question 32

Restriction for foreigners at sentosa cove

Answer 32

Land area of property not exceeding : 1672.3 sq m or 18000sq ft

Question 33

Penalties for foreigner who breach condition at sentosa cove?

Answer 33

200, 000 fine and /or imprisonment up to 3 years