Disclaimer






"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

Amendments kick in on Oct 4 2007

Amendments to en bloc sale legislation take effect on 4 Oct 2007


1. The Ministry of Law has announced that the Land Titles (Strata) (Amendment) Act, enacted by Parliament on 20 September 2007, will take effect from 4 October 2007.

2. The provisions of the new Act will apply to developments where the required 80% or 90% majority consent of owners (based on share value) has not been obtained as at the date of commencement of the Amendment Act, i.e. 4 October 2007. These developments will have to comply with the new requirements set out in the Amendment Act. Developments where the required 80% or 90% majority of owners (based on share value) have signed the Collective Sale Agreement will not need to comply with the new requirements. Developments that are 10 years or more require 80% majority consent while those below 10 years require 90% majority consent.

ISSUED BY THE MINISTRY OF LAW3 OCT 2007

© 2005 Government of Singapore

How does this effect ongoing and future enblocs? Who benefits the most?
Industry weighs new en bloc rules - article from Today here

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