lifeline
09-09-12, 01:56
Need advice from forummers here on this unique problem of my friend.
He sold his landed LH99 to a Singaporean and his Chinese wife.
The plan was for him to buy under his own name. OTP was eventually prepared under both names.
The exercise was meant to be quick, but eventually got delayed cos the Chinese wife changed her nationality to US, and then exercise was done. She is a Singapore PR as well.
SnP completed and money disbursed.
Now my friend's lawyer called - Land Dealings Approval Unit <LDAU> wants a revised OTP - to include 'subject to LDAU approval'. On top of that, major AnA already underway - complete walls hacked, etc.
slip-ups at all levels, esp buyers' side.
I see many issues:
1. Accede to request - add in subject to LDAU with both buyers' names.
If LDAU rejects, then friend got to return money? with walls hacked +++?
potential risk... somemore also completed SnP and received money already.
If approved, buyer got to pay stamp duty again?? got to pay any ABSD again?? dun know how many properties they have. any other implications to friend?
2. Accede to request - but modify change to husband's name only - without the subject to LDAU.
same as above - buyer pays stamp duty again? unless IRAS agrees to waive.
any implications to friend?
3. Dun accede to request - then property cannot be properly transferred, more legal headaches.
4. Others ?
Has anyone encountered such situations before?
any suggestions and comments will be useful and appreciated.
Thanks in advance.
He sold his landed LH99 to a Singaporean and his Chinese wife.
The plan was for him to buy under his own name. OTP was eventually prepared under both names.
The exercise was meant to be quick, but eventually got delayed cos the Chinese wife changed her nationality to US, and then exercise was done. She is a Singapore PR as well.
SnP completed and money disbursed.
Now my friend's lawyer called - Land Dealings Approval Unit <LDAU> wants a revised OTP - to include 'subject to LDAU approval'. On top of that, major AnA already underway - complete walls hacked, etc.
slip-ups at all levels, esp buyers' side.
I see many issues:
1. Accede to request - add in subject to LDAU with both buyers' names.
If LDAU rejects, then friend got to return money? with walls hacked +++?
potential risk... somemore also completed SnP and received money already.
If approved, buyer got to pay stamp duty again?? got to pay any ABSD again?? dun know how many properties they have. any other implications to friend?
2. Accede to request - but modify change to husband's name only - without the subject to LDAU.
same as above - buyer pays stamp duty again? unless IRAS agrees to waive.
any implications to friend?
3. Dun accede to request - then property cannot be properly transferred, more legal headaches.
4. Others ?
Has anyone encountered such situations before?
any suggestions and comments will be useful and appreciated.
Thanks in advance.