11 October 1999
New en bloc sales law comes in effect
The Land Titles (Strata) (Amendment) Act 1999 came into force, enabling collective sales without unanimous consent from owners. The Strata Titles Board, and not the High Court, became the body which ruled on objections to collective sales. Under the changes, an en-bloc sales deal could be cut if there was agreement among owners representing 80 per cent of the share value of a development that was at least 10 years old.  For properties that were under 10 years old, the minimum was 90 per cent.



Today’s news may be tomorrow’s Find of the Day. Read what’s happening today.
Copyright © 2008 SPH Search Pte Ltd. All rights reserved.