Collective Sale

Question 1

Requisition for the General Meeting requires at least __% of share value OR __% of total number of subsidiary proprietors’ votes.

Answer 1

20; 25

Question 2

Any meeting of a collective sale committee, a “Quorum” shall consist of the MAJORITY of the members of the collective sale committee.
Quorum 是？
他們的minutes要公布在notice board WITHIN __ days?
放在那兒幾天？

Answer 2

法定人數; 7; >14

Question 3

Sale committee should propose a reserve price in the __ __ Agreement.
The requisite majority consent by share value and strata area (80% or 90% depends on age of development) must be obtained within __ year from the 1st execution of the __ __ Agreement.

Answer 3

Collective Sale

Question 4

Collective Sale
Who appoints lawyer and marketing consultant? Also approve the apportionment of sale proceeds (share value, strata area, valuation)?

Answer 4

Sales committee

Question 5

Flat owners must be updated every __ weeks on the number and percentage of the CSA signed in 4 official languages. 放在電梯大堂這種顯眼的地方。

Answer 5

4

Question 6

Arrange Sequence:
1. Application to Strata Title Board
2. Signing of Collective Sale Agreement
3. Sale Committee
4. Tender for Collective Sale
5. General meeting on Collective Sale Committee

Answer 6

5, 3, 2, 4, 1

Question 7

All subsidiary proprietors are to be notified of the Strata Title Board application. Objections to the sale may be filed within __ days thereafter.

Answer 7

21

Question 8

Strata Title Boards will not approve an en bloc sale application if the following was not conducted in good faith:

Answer 8

1. Sale price for the lots and common property in the strata title plan
2. The method of distributing sale
3. Relationship of the purchaser to any of the subsidiary proprietors

Question 9

Collective sale
If the mediation cannot be successfully mediated by the Stata Titles Board within __ days starting from the first mediation, the board will issue a Stop Order.

Answer 9

60

Question 10

Collective sale
Applicants who wish to apply to the High Court must do so within __ days after the Strata Titles Board issue the Stop Order.

Answer 10

14

Question 11

High Court will not approve a collective sale if:

Answer 11

1. Sale was not in good faith
2. Any objecting SP incur financial loss
3. Proceeds of sale receiving by any objective SP, mortgages or charge are insufficient to redeem any mortgage or charge for his unit

Question 12

Collective sale failed on Jan 13th, 2023, the earliest date to try again?

Answer 12

Jan 14th, 2025. 兩年

Question 13

Which department administers En Bloc sale?

Answer 13

Strata Titles Board

Question 14

En bloc sale is governed by which Act?

Answer 14

Land Titles (strata) Act

Question 15

Collective sales of development usual method of sale is _____

Answer 15

Opened tender