19 Oct 2017
PROPERTY TAX
Good question and probably one the Lawyers should answer. Forewarned is forearmed, they say. The Lawyers were very late notifying the SSD owners of their sudden & impending payments - I hope they do a better job instructing all owners on the proper procedure here.
First I checked the relevant clause in our S&P (standard clause):-
16.1 ... Vender shall be liable for the following ..... until vacant delivery
(c) Payment of all outgoings including the property tax ......maintenance fund & sinking fund contributions ...
'There is a checklist of things to do when selling your property, such as paying outstanding tax, terminating existing GIRO payments and submitting claims for tax refunds.'1) Pay outstanding Property Tax (check your balance here)
2) Apportion Property Tax Liabilities
3) Terminate any Giro Payment Arrangement
4) Claim for any Property Tax Relief
5) Notify IRAS of the Property Transfer (done by Lawyer)
I am unclear when all these things will happen - I doubt if the Lawyer has filed the Notice of Transfer yet, as our sale is still conditional on getting STB approval.
We shall await further instructions.
No news means good news ?
ReplyDeleteJust a query. I am paying my property tax for TC via monthly GIRO deduction. Since the unit is considered sold, do I need to inform IRAS and will the property tax be terminated or recomputed?
ReplyDeleteGood question. Same here so I'll look into that.
DeleteShould be like this, after the 18/10/2017 we can expect the STB to notify us of the date for the mediation. The mediation date is expected to be some time in 1st week of Nov. Mediation process can take up to 60 days. If after the mediation the objectors withdraw their objection, then the STB will issue an Order for sale. If the objectors do not withdraw, then we will have to apply to the High Court for approval. That process will take another 3 months or more.
ReplyDeleteThis is not what the SC is telling everyone on facebook.
DeleteThe four objectors have been named and shamed. I hope there are no dirty tactics like other enblocs with locks being glued etc.
So we have a hard stop date on 27 Nov upon which we will know if the objectors have withdrawn?
ReplyDeleteIf the objectors have not withdrawn, this goes automatically to high court? And if objectors are not represented and are absent, all they have done is to delay the whole process? And if the 4 objectors have 4 different issues, then the HC will have to listen through these 4 issues, and 4 sets of lawyers? And who will bear the legal fees on the majority SP side? Only the majority SPs or 560 less 4 objectors or all 560 SPs?
Objectors pay their own legal fees, so do the majority owners. Courts can order also order costs differently depending on the merits of the case.
Delete463 majority SPs against 4 objectors. Who has more resources to go into legal battle ? The objectors either have lots of money to burn or are very confident of their case. Oh well, we will soon know.
DeleteHow much usually HC costs will incur for both majority and minority side? I am guessing around 6 figures like(a few hundred thousand) right?
ReplyDeletemajority each contribute $500 and there will be a legal war chest of more than $200,000. the 4 objectors would have to pay the full costs individually or if they come together divide by 4. if 1 year down the road, the deal is really scuttled in the high courts,..and by some miracle we end up with more money in enbloc 4, we may have to thank the 4 objectors for making the monetary sacrifice for the good of all. deja vu all over again.
ReplyDeleteLook at the grounds of objections first,before u count the cost.
ReplyDeleteHow do u know HC wlll not rule in favour of objectors?
Dont think there are solid grounds of objections. No case of financial loss or bad faith, if the objectors really want to take it to high court must be really gungho
DeleteLook at yr ground of objections before u object. How do you know objectors won't waste their money ?
DeleteBusybody, are u TC SP in the 1st place or maybe ex TC SP who sold yr unit too early ? It seems that you are provoking the minority to object. Of course lah you don't have to spent a single cent of expensive legal fee. If you are bono fide TC objector, please object all the way to appeal court instead of talking rubbish here. Let see who will win.
DeleteBlogger,
ReplyDeleteon the top you wrote enbloc done badly!
do you mean TC enbloc done badly?
can tell us what badly was done?
by who? MA? SC? Lawyer?
blogger is just stating the worst kind of enbloc are those that is done badly. she is not implying it happened at TC. u sound like one of the objectors trying to find reason to object,...any reason also can when in fact there is none. how much is really enough? pathetic.
Deletechill lah, read the whole sentence. if the enbloc was done badly, there would be 5 objectors.
DeleteTC FB just remove the names of 4 objectors。
ReplyDeleteOK the post has been deleted on FB. So lets chill and let the SC update us accordingly. The cat is out of the bag anyway as far as the SPs are concerned we at least who the objectors are.
ReplyDeleteI was hoping the blogger is the objector. We will fight it out up to appeal court and see who will win. But I guess she is smart enough to know that there is no case in objection this round. Might as well save up the expensive legal fee to buy a better replacement home or go for a well deserved long & luxurious holiday.
DeleteIf first round mediation fail, is it best to go high court already? So as not to delay time
ReplyDeleteIf mediation fails, then the objectors will be given 7 days Notice to withdraw their objection before the STB issues a Stop Order. It's the Objectors who will ultimately decide whether to go for High Court or not - not the SC or STB.
DeleteSilly for the objectors to go high court & pay huge legal fee as only 4 of them. The majority has the numbers & pay much lesser legal fees per person. If lose also not bad as the most go round 4 & make more money. Either way it's win-win for the majority.
DeleteBest case scenerio is they withdraw objection within 7 days. But if after 7 days notice objectors do not withdraw, means they will have to file an application to go to high court?
DeleteResources should not be an issue. If objectors win, majority will bear the bulk of the legal fees. If objectors lose, the legal fees will deducted from their sales proceeds. Seen it many times.
ReplyDeleteMajority has the numbers. Each SP pay peanuts if lose, no issue. And we just go to round 4 and may get more money if successful. If minority lose, they have to pay much bigger sum even though deduct from their proceed because only 4 of them. We'll see who has the last laugh.
DeleteNobody is laughing. This is a serious matter affecting peoples life. I suggest you give due respect to the lawful legal process no matter which side you are on.
DeleteExactly, because it affect so many people's life (especially the elderly & those who need money for medical treatment) don't object for the sake of objecting if you don't have a strong case. If you have good reason to object, particularly financial lost, we respect that. From what I understand no one has make any lost.
DeleteHaving said that, by all means go ahead & object if you want to for whatever reason. No one is stopping you.
We have to let the court decide & respect it's judgement. That is giving due respect to the legal process! People don't agree with you doen't mean they don't respect the legal process. Don't anyhow say hor.