mr funny
19-10-10, 17:36
http://www.straitstimes.com/PrimeNews/Story/STIStory_592329.html
Oct 19, 2010
HDB spot checks on property ownership
SPOT CHECKS are in store for Housing Board (HDB) flat buyers, to see if they are breaking the rules on owning private property in Singapore or overseas.
Minister for National Development Mah Bow Tan said yesterday the public housing authority will conduct spot checks both locally and overseas, to determine if HDB flat buyers are lying about their interests in other properties.
He was responding to a question from Ms Lee Bee Wah (Ang Mo Kio GRC) who voiced what has been on the minds of Singaporeans: how HDB will trace whether an HDB owner has a foreign property.
The HDB had recently announced that those who buy an HDB resale flat on or after Aug 30 must dispose of their private property - including any held overseas - within six months of the HDB purchase.
Mr Mah explained that at the point of purchase, HDB flat buyers are required to declare any interest or ownership in private property, local or overseas.
Those guilty of false declarations can be liable, on conviction, to a fine of up to $5,000 or to imprisonment for a term up to six months, or both.
If it is discovered before the completion of the purchase, HDB can cancel the application.
If the discovery is made after the sale, HDB can compulsorily acquire the flat.
'For practical reasons, HDB adopts different approaches to check on private property ownership in different countries.
'I am unable to disclose the details to avoid hampering HDB's enforcement work,' said Mr Mah.
Oct 19, 2010
HDB spot checks on property ownership
SPOT CHECKS are in store for Housing Board (HDB) flat buyers, to see if they are breaking the rules on owning private property in Singapore or overseas.
Minister for National Development Mah Bow Tan said yesterday the public housing authority will conduct spot checks both locally and overseas, to determine if HDB flat buyers are lying about their interests in other properties.
He was responding to a question from Ms Lee Bee Wah (Ang Mo Kio GRC) who voiced what has been on the minds of Singaporeans: how HDB will trace whether an HDB owner has a foreign property.
The HDB had recently announced that those who buy an HDB resale flat on or after Aug 30 must dispose of their private property - including any held overseas - within six months of the HDB purchase.
Mr Mah explained that at the point of purchase, HDB flat buyers are required to declare any interest or ownership in private property, local or overseas.
Those guilty of false declarations can be liable, on conviction, to a fine of up to $5,000 or to imprisonment for a term up to six months, or both.
If it is discovered before the completion of the purchase, HDB can cancel the application.
If the discovery is made after the sale, HDB can compulsorily acquire the flat.
'For practical reasons, HDB adopts different approaches to check on private property ownership in different countries.
'I am unable to disclose the details to avoid hampering HDB's enforcement work,' said Mr Mah.