jermstian

Question 1

How to determine if an item is a fixture or a fitting?

Answer 1

1. Degree of Annexation(permanently attached)
   2.Purpose of Annexation(Enjoyment of the land)

Question 2

What are the 3 type of estates?

Answer 2

1.Estate in fee simple(freehold)
2.Estate in perpetuity(indefinitely)
3.Leasehold estate(HDB)

Question 3

What are the 2 types of tenancies?

Answer 3

1. Joint tenancy
2. Tenancy in common

Question 4

What are the 4 types of leases?

Answer 4

1.Fixed term lease
2.Periodic lease
3. Tenancy at will
4.Tenancy at sufferance

Question 5

What rights does the landlord have if the tenant does not pay rent?

Answer 5

• Landlord can collect rent or terminate the agreement
• Distress act: allows landlord to apply for an order to recover rents

Question 6

What are the two types of property tax and how much is each of them?

Answer 6

• Owner occupier(4% of annual value)
• Non owner occupier(10% of annual value)

Question 7

When do you start paying property tax on the property?

Answer 7

New owner will start paying property tax the day after the completion. For uncompleted properties, it will begin the day when notice of vacant possession is issued.

Question 8

characteristics of joint tenancy

Answer 8

• undivided share
• right of survivorship, if an owner passes away, their shares automatically transfers to the remaining owners

Question 9

characteristics of tenancy in common

Answer 9

• different and specific shares
• if an owner passes away, their share does not transfer to the others but becomes part of the estate (by way of will, or beneficiaries)

Question 10

characteristics of a fixed term lease

Answer 10

• predetermined duration
• if tenant terminates early, he is liable to pay the rents of the remaining duration of the lease
  if tenant is an expatriate, he may request for the diplomatic clause to be put in the lease agreement for early termination

Question 11

characteristics of a periodic lease

Answer 11

• no fixed date,
• measured overtime, continues indefinitely until landlord or tenant gives notice to quit

Question 12

Characteristics of tenancy at will

Answer 12

-under certain circumstance, tenant does not need to pay rent
- lease can be terminated anytime by either parties
- tenant does not have any interest in the land

Question 13

characteristics of tenancy at sufferance

Answer 13

• unlawful, tenant stays at the property without the landlord’s consent
• landlord has the right to evict the tenant or claim for double value or double rent

Question 14

can the tenant end the tenancy before the expiry date

Answer 14

• act of god, enforce the force majeure clause
• if tenant terminates the lease before the agreed-upon date, he has to refund the landlord a portion of the commission the landlord paid to their real estate agent
• if tenant gives a notice to quit or decides to surrender and the landlord agrees, the lease is considered to be over

Question 15

when to start paying property tax

Answer 15

completed property: the date after the completion date
uncompleted property: the date when the notice of vacant possession is given

Question 16

what is the effect of late completion

Answer 16

Purchaser and vendor will pay late completion interest of 8% per annum.

Question 18

what are the rights of the mortgagee

Answer 18

• sue on the borrowers personal convenant to repay the loan
• ## Entry into possession