Facts & Terminology (FAQs)

Who are Subsidiary Proprietor's (SP's)?

A subsidiary proprietor (SP) is a purchaser to whom the developer has transferred ownership of a unit, as shown on the strata certificate of title. Each SP is required to pay a certain amount of contribution to help maintain and manage the common property of the development. This amount is levied by the management corporation (MC). If you don’t pay your contributions, the MC has a right to recover any unpaid contribution from you as a debt [SECTION 40], or register it as a charge against the strata lot [SECTION 43]. 
Introduction to Share Value 


 What is Share Value? Before buying a unit in a property, there are some important factors buyers should consider like, among other things, price, location, tenure of land and quality of the development. It is also useful to find out the monthly contribution to the maintenance fund. In most cases, the contribution is proportional to the share value of the unit.


Significance of Share Value: The share value of a property is a figure that represents the 
proportionate share entitlement assigned to each strata unit in the same development. The purpose of the share value is to determine the amount of shares each owner has in relation to the other owners in the development.


What does share value represent? First, the share value determines the amount of contributions for maintenance that an owner has to pay to the management corporation of the estate for maintaining the common areas in the development. Second, the share value of a strata lot determines the voting right of a unit owner. The higher the share value an owner has, the more voting rights he or she has. Third, the share value determines the share that an owner has in the common property, which is jointly owned by all the owners in a development.

Comments

Post a Comment

Popular posts from this blog

An informative essay on the problems and implications of En Bloc in Singapore

Published:   23rd March, 2015  Last Edited:   20th April, 2017 Abstract Due to the increasing demands and the needs to cater to the future population, the Urban Redevelopment Authority of Singapore released development guide plans, which encourage redevelopment of existing land. Despite the fact that the utmost motive for En Bloc is to increase land value and to maximize land use, the sale of En Bloc has come to a point that the public has raise concerns over the problems and implications that has occurred. This paper will show clearly what are the problems and implications of en bloc and on the discussion of whether the government intervention is another solution to the problems of the en bloc. The authors' main objective is to list out the main problems that has arisen with the rising trend of En Bloc. Table of Contents Abstract 2 Acknowledgement 3 Table of Contents 4 Chapter 1.0 Introduction 5 1.1 Background 5 1.2 Objectives 6 1.3 Scope of study 6 1.5 Sour
Read more

Sim Lian clinches Tampines Court enbloc for S$970m

Wednesday, August 23, 2017 - 12:48 ANGELA TANangelat@sph.com.sg At S$970 million, the offer worked out to around S$676 per square foot of potential gross floor area, inclusive of two payments to the state. PHOTO: ST FILE SIM Lian Development has clinched the enbloc sale of Tampines Court at S$970 million, Huttons Asia, the marketing agent for the privatised HUDC (Housing and Urban Development Company) estate, said on Wednesday. "After one week of rigorous negotiations, we've reached a satisfactory resolution on the conditions to the sale of Tampines Court. The deal has been concluded at $970 million and sold to Sim Lian,'' Terence Lian, Senior Division Director and Head of Investment Sales at Huttons Asia, said. Mr Lian told The Business Times last week that the S$970 million bid had conditions attached. At S$970 million, the offer worked out to around S$676 per square foot of potential gross floor area, inclusive of two payments to the state. One is a differentia
Read more