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Paper 2, Paper 1 - Coggle Diagram
Paper 2
CU4: Property Transactions
CU3: Regulation of Real Estate Agency Industry & Real Estate Marketing
Paper 1
CU2: Dealings with Interests in Land
2.2 Law of Agency
2.4 Negligence
Types of Negligence
Negligent Representation
Innocent Representation
Contributory Negligence
Fraudulent Representation
the worst kind. Intended to get the third party into a contract. The one who commits it has to know the truth
plaintiff can claim damages, rescind contract
Duty of Care
The Neighbour Principle
Volenti Non-Fit Injuria
Volenti non fit iniuria is a common law doctrine which states that if someone willingly places themselves in a position where harm might result, knowing that some degree of harm might result, they are not able to bring a claim against the other party in tort or delict.
2.1 Law of Contract
What makes a legally binding Contract?
OCAI
Offer
Consideration
Acceptance
Intention to create legal relations
What represents an Offer?
Conveyancing and Law of Property Act
Contracts must be in Writing
Contracts must be in done in deed in the English Language
Contracts apply accept to a lease for a period not exceeding 7 years*
Discharge of Contracts
by Performance
by Agreement
by Frustration
eg. Act of God
Death of Seller
by Breach
Warranty and Conditions
Breach of Warranty - allows of claim of damages
Breach of Condition - allows for rescind of contract
How to Read Lot numbers ?
Bundle of Ownership Rights? / Rights of Legal Owners?
2.7 Gift
Conditions of Gifts*
Inter Vivos
(Latin, between the living) is a legal term referring to a transfer or gift made during one's lifetime, as opposed to a testamentary transfer (a gift that takes effect on death) under the subject of trust.
A property that is gifted within 5 years may be voidable at the option of the Official Assignee (OA) in the event of a bankruptcy
hence, a Bank is unlikely to grant financing with the property as a security until more than 5 years has elapsed from the date of the Gift
subsequent owners should be careful of such a condition
2.8 Trust
Equitable Interest - the 'Donny' or the Beneficiary who holds the equitable interest in the property. The Trustee manages the Trust property for the benefit of the Trustee
Legal Interest - the 'Lenny' or Trustee who is appointed to hold the legal title of the trust property
CU1: Real Estate Agency Industry Overview (1.1 - 1.2) & Basic Land Law Concepts (1.3 - 1.8)
1.1 Real Estate Market and Submarkets
Categories of Properties - Title/Tenure/Zoning/Use/Classification
Residential
Flats
min site area - 1000 sqm.
max site coverage - 50%
(adequate areas for greenery and landscaping)
Semi-Detatched Houses
One half of a pair of detatched houses, each with its own land title, separated by a common party wall along one side. Either adjoined side-to-side or back-to-back.
Side-to-Side - min plot size - 200 sqm, min plot width - 8m, min plot depth - none
Back-to-Back - mps - 200 sqm, mpw - 10m, mpd - none
Strata Landed Housing
strata titled landed housing units on a common development site with shared communal facilities and a single vehicular access point. Type of Area? Can be Strata Terrace, Semi-D or Bungalows
Outside GCBA - max site coverage - 50%
Within GCBA - max site coverage - 40%
Bungalows (or Detatched Houses)
a detatched landed house with its own land title. Can be built on any landed housing area. Semi-detatched, mixed landed housing, GCB Area
Outside GCBA - mps - 400 sqm, mpw 10m, mpd - none
Within GCBA - mps - 1400sqm, mpw - 18.5m, mpd - 30m
Terrace Houses
a house with its own land title that forms a row of at least 3 dwelling houses abutting the common boundary party walls. Can be built on mixed landed housing areas
Terrace Type 1 (Intermediate) - mps - 150 sqm, mpw - 6m, mpd- none
Terrace Type 1 (Corner) - mps - 200sqm, mpw - 8m, mpd - none
Terrace Type 2 (Intermediate) - mps - 80 sqm, mpw - 6m, mpd - none
Terrace Type 2 (Corner) - mps - 80sqm, mpw - 8m, mpd - none
Condominium
msa - 4000 sqm
msc - 50%
Commercial
Industrial
Micro & Macro Factors affecting the Supply, Demand & Prices of Properties
Relationship between Property Cycle and Business Cycle
1.2 Real Estate Market Players and Government Intervention
Government
BCA
JTC
HDB
IRAS
LTA
MAS
SLA
URA
Developers, Users & Investors
Impact of Government Cooling Measures
Basic Land Law Concepts
1.3 Introduction
Proprietary Right vs Personal Right
Forms of Proprietary Interest
Ownership
Lesser Interests
Legal Interest vs Equitable Interest
Real Property vs Personal Property
1.4 Land
Legal Meaning
Fittings, Fixtures & Chattels
Land Lot vs Strata Lot vs Accessory Lot
1.5 Estates in Land
Tenure vs Estate
In England, all Land is held by the Crown. A subject under the Crown cannot be an absolute owner of any Land. He is just a tenant holding land from the Crown.
Anyone who buys Houses or Land is said to only own an Estate in the Land.
Estate = measured in terms of duration
Tenure = the terms and conditions upon which the owner is holding his house
Freehold vs Leasehold
2 Types of Freehold
Estate in Perpetuity
Freehold estate that the owner can own forever. However it is subject to terms under the State Lands Act (SLA) such as rights of the state to have free access to the land, take mineral oil and duty to maintain boundary marks. aka Statutory Land Grant (SLG)
Absolute Freehold / Estate in Fee Simple
Freehold estate that the owner can own forever. Freehold ownership that is absolute without conditions. aka Grant in Fee Simple (GFS).
1.6 State Lands Act
Implied Covenants and Conditions in Perpetuity and State lease
Pay Rental
Maintain all Landmarks
Not to use any portion of the Land for Burial purposes
Not lease the land for a period of more than 7 years
Differential Premium (DP)
rezoning to a higher value use
increasing the plot ratio
https://www.ura.gov.sg/Corporate/Guidelines/Development-Control/Planning-Permission/Folder/~/link.aspx?_id=DBD8C6FA46024A54AD5904E316330879&_z=z
Temporary Occupation License (TOL)
State's reversionary interest in State leases
Land Acquisition Act - The State's power to acquire land compulsorily
1.7 Rights in Another's Land
License
License vs Lease?
Encumberance
Covenants
How do covenants affect adjacent land owners and their respective successors in title?
Restrictive Covenants
Identification
Discharge
Restrictive Covenants expire 20 years from the date of entry of a notifcation on the Land Register. Extension of a restriction is only good for a further 10 years.
Easement
How can an Easements be Acquired and Extinguished? Under the LTA and LSTA
?
https://regulations.candh.com.sg/singapore-property-for-rent-sale-encumbrances/#:~:text=An%20encumbrance%20is%20a%20right,an%20encumbrance%20is%20an%20easement.&text=Developers%20typically%20use%20restrictive%20covenants%20when%20they%20subdivide%20property%20for%20residential%20developments
.
Land Titles Act (LTA), Land Strata Titles Act (LSTA)
1.8 Registration of Titles
Match Property Type with Property Title
Certificate of Title
Subsidiary Strata Certificate of Title
Lease Title
Interpret Title Document Dealings
Transfers
Mortgages
Charges
Leases exceeding 7 years
What is Registration For? Priority of Registered Interests?
Caveat
Function?
Period of Effectiveness?
What Information is in the Land Title?
X Building Area
X Master Plan Zoning
X Plot Ratio
2.5 Hrs
Section A: 50 MCQs.
Section B: 15 MCQs with reference to 1 or 2 Case Studies.
Section C: 10 Short Answer Qns.