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Singapore HBD Implements New Statute For Shift Of Flat Ownership

Location: Others

Date posted 24 May 2016

Price: Please contact

Ad ID: 13422

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This was rendered to place a moderation on the overheated housing market. For the years of 2012 to 2015, the Singapore Housing Board sanctioned an average of 6,000 home ownership transfers in a year. Most claims shown for ownership transfer were demise of an owner, marriage, divorce and financial severity. The HBD freshly invoked in April its current law for transfer of flat ownership among Singapore HBD flat owners. In the past, flat owners were permitted to shift their flat units to their close family members or to their spouses but that is not the instance anymore. They are nowadays covered with the new rulings for transfer of ownership with granted interests which include the medical grounds, financial adversity, divorce, marriage, renouncement of citizenship and death of an owner.

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