Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Real Estate > Lesson 10 > Flashcards

Lesson 10 Flashcards

1
Q

Who is involved in the strata subdivision of a building or landed housing development?

A

The Minister and the Chief Planner.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is formed from the subsidiary proprietors of a strata development?

A

The Management Corporation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is the duty of the Management Corporation (MCST)?

A

To control, manage, administer, and maintain the common property for all subsidiary proprietors.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What role does the developer play in new strata developments for the first 12 months?

A

The developer serves as the Management Corporation during the first 12 months.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What responsibilities does the developer have while acting as the MC?s

A
  1. Keep proper books of accounts
  2. Appoint an auditor to audit the accounts annually
  3. File a certified true copy of the audited accounts with the Commissioner of Building.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How long must every Management Corporation keep accounting records and financial statements?

A

At least 5 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What funds are subsidiary proprietors (SPs) required to contribute to?

A

They must contribute to both the management fund and the sinking fund.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What happens if contributions become overdue for 30 days?

A

A written demand for interest is issued.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What actions can the Management Corporation take if a subsidiary proprietor fails to pay within 14 days after a demand?

A

They may impose a fine and recover any unpaid contributions through the Small Claims Tribunal or State Courts, and register a charge on the property for the default.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

When does the developer pay maintenance charges?

A

The developer pays for maintenance charges on all unsold units and sold units that have not been handed over to purchasers after a 3-month grace period from TOP (Temporary Occupation Permit).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is one of the primary responsibilities of the Management Corporation (MC)?

A

The MC must prepare and keep a strata roll, which is a register of all unit owners.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What does the MC handle on a daily basis?

A

The MC administers the day-to-day matters related to the management of the property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Can the Management Corporation employ external help?

A

Yes, the MC may employ the services of a managing agent (MA) to run daily matters, with the appointment lasting up to 3 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the role of the MC council?

A

The MC council is a representative body of members elected from among subsidiary proprietors (SPs) during the annual general meeting (AGM).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How many members can the MC council have?

A

The council can have up to 14 members.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are the eligibility requirements for election to the MC council?

A

SPs must be at least 21 years old
A nominee can be an immediate family member of an SP
A nominee of a company where the SP is an owner

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What must every MC adopt according to the law?

A

Every MC is required to adopt a set of by-laws concerning the common property, as stipulated in the Building Maintenance and Strata Management Act (BMSMA).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Can the MC create additional by-laws?

A

Yes, in addition to the required by-laws, MCs can create additional by-laws as needed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is the cap on the total number of proxy votes one can hold at annual general meetings?

A

There is a limit on the number of proxy votes that any individual can hold, which applies during AGMs where various resolutions, including new by-laws, are discussed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is Share Value in the context of strata developments?

A

Share Value determines a subsidiary proprietor’s voting rights, their share of common property, and contributions to the management and sinking funds.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

How does Share Value affect voting rights?

A

The Share Value determines the voting rights of the subsidiary proprietor at general meetings based on their proportionate ownership.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What is required for an Ordinary Resolution in a general meeting?

A

An ordinary resolution needs support from 50% of the Share Value of the subsidiary proprietors present.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What decisions can be made with an Ordinary Resolution?

A

It can be used to appoint a managing agent or to raise contributions for the management and sinking funds.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What is required for a Special Resolution to pass?

A

A special resolution needs support from at least 75% of the Share Value of the subsidiary proprietors present.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What decisions can be made with a Special Resolution?

A

It can be used to create by-laws or to sell a unit to recover contributions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

How is Share Value determined for residential developments?

A

Share Value is determined based on the floor area (in m²) of the units.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What are the Share Values corresponding to specific floor areas?

A

50 m² or less: 5
Every additional 50 m²: Add 1 Share Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What must foreigners do before purchasing restricted property in Singapore?

A

Obtain prior approval from the Law Minister via the SLA (Singapore Land Authority) and LDAU (Land Deal Approval Unit).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

What happens to a purchase involving a trust structure for foreigners without approval?

A

The purchase shall be considered void.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

What types of properties are classified as Restricted Property?

A
  1. Vacant Residential Land
    1. Commercial and Residential Land (as of 20th July 2023)
    2. Landed Properties (Bungalow, Semi-Detached, Terrace)
    3. Strata Landed Houses
    4. Residential Shophouses
    5. Places of Worship or Association Properties
    6. Dormitories/Service Apartments/Boarding Houses (not in Hotel Zoning & Hotel Act)
    7. Foreign persons purchasing all units in an apartment or condominium building without prior approval.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

What exemption is provided for foreign developers in residential development?

A

Foreign developers are exempted from approval when purchasing:
a) Land
b) An entire building
c) All strata units of apartments or condominiums (in En-bloc Sales).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

What certificate must foreign developers obtain when purchasing property?

A

They must seek approval from the Controller of Residential Property and obtain a Qualifying Certificate (QC).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

What are the conditions for obtaining a Qualifying Certificate?

A
  1. A banker’s guarantee deposit worth 10% of the land purchase price.
  2. Completion of the project within 5 years (T.O.P. / C.S.C.).
  3. Selling all units within 2 years of T.O.P / C.S.C., with extension charges for unsold units.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

What is the extension charge for delays in completing the project?

A

8% / 16% / 24% of the purchase price of the land for the 1st, 2nd, and 3rd or subsequent year extensions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

What must developers not do after a Qualifying Certificate is issued?

A

They must not change the shareholding of the developer without approval or sell the land in its vacant or undeveloped state.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

What are the criteria for exemption from requiring a Qualifying Certificate (QC)?

A
  1. Incorporation in Singapore.
  2. Primary listing on the Singapore Exchange with the principal place of business in Singapore.
  3. The chairperson and the majority of the company’s board are Singapore citizens.
  4. A significantly Singaporean substantial shareholding interest in the company.
  5. A track record in Singapore.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

What is the procedure for applying for property purchase approval under the Residential Property Act?

A

An online application must be submitted to the SLA (Singapore Land Authority) for the Land Dealings Approval Unit (LDAU).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

What types of approval can be requested?

A

Applications can be for specific purchases or for Approval In-Principle, which is valid for 12 months with no extensions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

What are the land area restrictions for property purchases on the main island?

A

The land area must not exceed 1,393.5 m² or 15,000 ft².

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

What are the land area restrictions for property purchases in Sentosa Cove?

A

The land area must not exceed 1,800 m².

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

What restriction is placed on property purchases regarding specific areas?

A

The property must not be located within a GCBA (Good Class Bungalow Area).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

What are the main assessment criteria considered for each application?

A

Each application is assessed on its own merits, focusing on:
a) Singapore Permanent Resident (SPR) status for at least 5 years.
b) Adequate economic contributions to Singapore, considering qualifications, expertise, and relevant investments.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

What conditions must foreigners comply with if LDAU approves their property purchase?

A
  1. The property must be used only for the owner’s occupation (family) as a dwelling house.
  2. Family members cannot buy another restricted property.
  3. The property cannot be rented or used for any other purpose.
  4. The property must not be sold within 5 years from the date of purchase or the date of TOP/CSC.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

What authority can lodge a caveat to prevent unauthorized disposal of property?

A

The Controller of Residential Property can lodge a caveat.
(Note: This condition does not apply to landed properties at Sentosa Cove.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

What are the penalties for breaching the Residential Property Act?

A

A fine of up to $200,000 and/or imprisonment for up to 3 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

What is the penalty for continuing offenses under the Residential Property Act?

A

A further fine not exceeding $2,000 for every day or part thereof the offense continues after conviction.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

What must a foreigner do after obtaining approval to purchase a new restricted property?

A

They must sell their existing restricted property within 3 months from the date of legal completion, TOP (Temporary Occupation Permit), or CSC (Certificate of Statutory Completion), whichever is earlier.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

What happens if a foreigner inherits a restricted property without approval?

A

They must sell the property within 5 years from the date of the deceased’s death.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

What is the requirement for owners who give up their citizenship or Permanent Resident (PR) status regarding restricted properties?

A

They must sell their restricted properties within 2 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

Are foreigners allowed to rent restricted properties for more than 7 years?

A

Foreigners cannot rent a restricted properties exceeding 7 years (including any option to renew). Such lease is deemed as a sale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

What are the penalties for criminal offences related to property transactions?

A

A fine not exceeding $500,000 and/or imprisonment for a term not exceeding 10 years.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

What must be done if suspicious activities are detected in a property transaction?

A

A report must be made to the Commercial Affairs Department (CAD) and a Suspicious Transaction Report (STR) should be lodged.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

What are common suspicious indicators in property transactions?

A
  1. The client appears hesitant or refuses to put their name on documents connecting them to the property.
  2. The client uses different names on Offers to Purchase, closing documents, and deposit receipts.
  3. The client inadequately explains last-minute substitutions of the purchasing party’s name.
54
Q

What is mandatory if suspicious activity is detected?

A

It is mandatory to lodge a Suspicious Transaction Report (STR).

55
Q

What is the penalty for failing to lodge a Suspicious Transaction Report?

A

It is a criminal offence punishable by a fine of up to $250,000 and/or imprisonment for up to 3 years.

56
Q

What protections are offered to individuals who disclose suspicious transactions?

A

There are no civil or criminal proceedings against individuals who disclose a suspicious transaction.

57
Q

What are the three stages of Money Laundering?

A
  1. Placement (Disposal of Proceeds)
  2. Layering (Disguise Origin)
  3. Integration
58
Q

What initial step must clients take regarding their personal information in a property transaction?

A

Clients must fill in the Customer’s Particulars Form.

59
Q

What must salespersons do in addition to the client’s form?

A

Salespersons must complete the Checklist for property transactions with the client, including Customer Due Diligence (CDD) for sale and rental transactions.

60
Q

What are two further checks that should be conducted during due diligence?

A
  1. Check if the person’s name appears on UN Sanction Lists.
  2. Identify if the individual is a Politically Exposed Person (PEP), which includes domestic, foreign, or international organization PEPs.
61
Q

What is the primary purpose of the law created to improve conveyancing practices?

A

To regulate the practice involving the receipt, holding, and distribution of conveyancing funds by lawyers.

62
Q

What are the penalties for contravening the law regarding conveyancing?

A

Fines up to $50,000 and/or imprisonment for up to 3 years.

63
Q

What does conveyancing money refer to?

A

Money involved in the purchase, sale, and lease of land, including:

Option deposits
Balance purchase price
CPF money
Stamp duties
Payments to JTC, IRAS, SLA, etc.
Payments to developers, sellers, buyers, landlords, tenants, licensors, and licensees
Payments to banks
Security deposits
Goods and services tax (if applicable)

64
Q

Where should conveyancing money be deposited?

A

In special conveyancing accounts held with appointed banks.

65
Q

What must be done to withdraw conveyancing money?

A

Withdrawal requires the signatures of two lawyers.

66
Q

What additional management option do the rules provide for solicitors?

A

Solicitors can use jointly managed escrow accounts to hold conveyancing money for complex commercial transactions.

67
Q

What is the purpose of the Planning Act?

A

To regulate the use of land and optimize land usage according to the Master Plan.

68
Q

What are Approved Conservation Buildings in Singapore?

A

These are designated buildings that are protected under specific Conservation Guidelines to preserve their historical or architectural significance.

69
Q

What does the Land Betterment Charges Act 2021 provide for?

A

It establishes a framework for collecting taxes for the enhancement of land value or uses, as regulated by the Singapore Land Authority.

70
Q

What are the Old Laws related to land value enhancement?

A
  1. Development Charges (DC) paid to the Urban Redevelopment Authority (URA)
  2. Differential Premium (DP) paid to the Singapore Land Authority (SLA)
71
Q

Under the Planning Act, when is planning permission required?

A

Planning permission is required to carry out development projects that increase the value of the land (e.g., rezoning to a higher value use or increasing the plot ratio).

72
Q

How is tax calculated for development charges under the Planning Act?

A

The tax is calculated based on the Table of Rates similar to the old DC table, and for leasehold properties with unexpired tenures of 99 years or less, it is based on the Leasehold Table.

73
Q

How many geographical sectors is the tax calculated based on?

A

Tax is calculated based on 118 Geographical Sectors.

74
Q

What restrictions are there for residential properties regarding rentals?

A

It is illegal for individuals to rent out, sublet, or share their private homes for less than three (3) months.

75
Q

What are the penalties for violating the rental restrictions under the Planning Act?

A

Penalties can include fines of up to $200,000 and/or imprisonment not exceeding 12 months, or both.

76
Q

What does the Immigration Act govern?

A

It relates to the immigration of foreigners into and their departure from Singapore through land, air, and sea checkpoints.

77
Q

What is the liability of an owner under the Immigration Act?

A

An owner can be charged for harboring overstayers or illegal immigrants if they have not exercised due diligence required by the law.

78
Q

What responsibility do real estate agents have under the Immigration Act?

A

They are responsible for checking the immigration status of tenants upon successful introduction.

79
Q

What are the penalties for a landlord or agent found harboring illegal immigrants or overstayers?

A

They may face imprisonment for 6 months to 2 years and/or a fine of up to $6,000.

80
Q

What can the Housing and Development Board (HDB) do if illegal immigrants are found in an HDB flat?

A

HDB can compulsorily acquire the flat under the Housing & Development Act.

81
Q

What must homeowners do when renting to foreign tenants?

A

Homeowners are required to exercise due diligence in checking the status of prospective foreign tenants to ensure they are legally in Singapore.

82
Q

What constitutes reckless harboring of overstayers or illegal immigrants?

A

Failing to carry out all three due diligence checks or performing only one check, leading to possible imprisonment of 6 months to 2 years and/or a fine up to $6,000.

83
Q

What constitutes negligent harboring of overstayers or illegal immigrants?

A

Carrying out only two of the three due diligence checks, which may lead to a fine not exceeding $6,000 or imprisonment for up to 12 months.

84
Q

What are the three due diligence checks that agents and landlords must perform?

A
  1. Verify work passes and dependent passes (via MOM).
  2. Verify long-term passes and student passes (via ICA).
  3. Check immigration status against official sources.
85
Q

What is the purpose of the Land Acquisition Act?

A

To provide for the acquisition of land for public purposes, public benefit, or public utility.

86
Q

Give examples of projects for which land can be acquired under the Land Acquisition Act.

A

Examples include expressways, MRT lines, ports, and airports.

87
Q

For what types of purposes can land be acquired under the Land Acquisition Act?

A

Land can be acquired for residential, commercial, or industrial purposes.

88
Q

How is compensation determined for land acquired under the Land Acquisition Act?

A

Compensation is made based on the market value of the acquired land at the date of acquisition.

89
Q

What right does the owner have if they are dissatisfied with the compensation offered?

A

The owner has the right to appeal to the Appeals Board, consisting of sitting or retired judges of the Supreme Court, within 28 days.

90
Q

Who engages legal representation during the appeal process?

A

Both the Collector (SLA) and the owner can engage their own lawyer and valuer for the Appeals Board hearing.

91
Q

What happens if either the Collector or the appellant is dissatisfied with the Appeals Board’s decision?

A

They can appeal to the Court of Appeal, and the decision of the Court of Appeal is final.

92
Q

What is the Oaths & Declarations Act in Singapore?

A

It is the law relating to oaths and statutory declarations.

93
Q

What is an example of a required declaration related to HDB transactions?

A

Both the seller and buyer must declare the true resale price of the flat to HDB.

94
Q

What must applicants declare when applying for an HDB loan?

A

They must declare their unemployed status if applicable.

95
Q

When is a Salesperson required to execute a statutory declaration?

A

A salesperson must complete a statutory declaration on information related to an HDB transaction.

96
Q

What is another use for statutory declarations in legal contexts?

A

They can be used to prove the execution of a Will.

97
Q

What are the consequences of making a false declaration in judicial proceedings?

A

The penalties include up to 7 years imprisonment and a fine.

98
Q

What are the penalties for making a false declaration in cases outside of judicial proceedings?

A

The penalties include up to 3 years imprisonment and a fine.

99
Q

What is the purpose of the Personal Data Protection Act (PDPA)?

A

The PDPA governs the collection, use, and disclosure of personal data by organizations and establishes the Do Not Call Register.

100
Q

What is considered Personal Data?

A

Personal data is any information that can identify an individual, whether true or not, and includes information an organization is likely to access.

101
Q

In what forms can personal data be stored?

A

Personal data can be stored in both electronic and non-electronic forms.

102
Q

What is the penalty for obtaining or changing personal data without an individual’s approval?

A

It is a criminal offense that can result in a fine of up to $5,000 and/or imprisonment for up to 12 months.

103
Q

What are examples of personal data?

A

Personal data may include:
Full Name
NRIC or Fin Number
Passport Number
Personal email address
Mobile Number
Thumbprint
DNA Profile
Name and Residential Address
Photograph or Video image of a person

104
Q

Under what conditions can organizations collect, use, or disclose NRIC numbers?

A

Organizations may do so only if:
It is required by law, or
It is necessary for verifying an individual’s identity with a high degree of accuracy.

105
Q

What must organizations obtain before collecting personal data?

A

Organizations must obtain the individual’s knowledge and consent for specific purposes.

106
Q

What are key responsibilities for organizations under the PDPA?

A
  1. Appoint a Data Protection Officer.
  2. Map out the organization’s Personal Data Inventory.
  3. Implement Data Protection Processes.
107
Q

What are the key exceptions where PDPA data protection provisions do not apply?

A
  1. Individuals acting in a personal or domestic capacity.
  2. Employees acting in the course of their employment.
  3. Public agencies or organizations.
  4. Business contact information that is not provided for personal purposes.
  5. Personal data in records existing for at least 100 years.
  6. Personal data about deceased individuals who have been dead for more than 10 years.
108
Q

What kind of business contact information is excluded from PDPA provisions?

A

This includes an individual’s name, position, business telephone number, business address, business email, and any similar information not provided solely for personal purposes.

109
Q

What must RES X do before disclosing a client’s personal data to another real estate salesperson (RES Y)?

A

RES X must obtain the consent of the client (buyer) to disclose their personal data, including name, NRIC No., and contact details.

110
Q

What should an RES do when discussing the sale with property owners?

A

RES should obtain the owners’ consent to mention certain personal details, such as the number of children and reasons for selling, to prospective buyers.

111
Q

When is personal data disclosed during discussions with prospective buyers?

A

An RES would be disclosing personal data if they indicate that the sellers have children to a prospective buyer.

112
Q

What do the DNC rules generally prohibit?

A

They prohibit organizations from sending marketing messages to numbers on the DNC list, including mobile, fixed-line, residential, and business numbers.

113
Q

What types of messages are included under the DNC regulations?

A

The DNC regulations prohibit:
No Voice Calls
No Text Messages
No Fax Messages

114
Q

What qualifies as a “marketing message” under DNC rules?

A

Marketing messages refer to:
Offering to supply, advertise, or promote goods or services.
Advertising or promoting suppliers or prospective suppliers of goods or services.
Supplying, advertising, or promoting land, interests in land, or business/investment opportunities.

115
Q

How long do organizations have to ensure they do not send marketing messages to individuals who opt out?

A

Organizations have 21 calendar days to comply with the opt-out request.

116
Q

What are the penalties for violating DNC rules?

A

Violators may face a fine of up to S$10,000 per message sent to a DNC number.

117
Q

What are some exceptions to the DNC rules?

A

Exceptions include:
Service calls or reminder messages regarding services purchased by the individual.
Market survey or research inquiries.
Messages related to charitable or religious causes.
Messages targeting businesses (B2B) and not individuals.
Text or fax messages about products or services relevant to individuals with whom the organization has an ongoing relationship.
Messages sent with clear, unambiguous consent from the individual.

118
Q

How is a message sent to obtain consent viewed under the DNC regulations?

A

A message sent for the purpose of obtaining clear and unambiguous consent for sending specified messages would be considered a specified message.

119
Q

What transactions does the CPFTA apply to?

A

The CPFTA applies to most consumer transactions affected by unfair practices, but it does not apply to sales of land and houses.

120
Q

What recourse do consumers have under the CPFTA?

A

Consumers have the right to seek civil remedies before the courts.

121
Q

What is the maximum claim amount a consumer can seek under the CPFTA?

A

The maximum claim amount is $30,000.

122
Q

What constitutes an unfair practice according to S4 of the CPFTA?

A

Unfair practices include actions by suppliers that:
a) Deceive or mislead consumers.
b) Involve false claims.
c) Take advantage of consumers who cannot protect their interests.

123
Q

What specific conditions regarding consumers are considered for unfair practices?

A

Suppliers may take advantage of a consumer if they know the consumer:
i. Cannot protect their own interests.
ii. Cannot reasonably understand the transaction or related matters.

124
Q

What other unfair practices are specified in the CPFTA?

A

There are 24 unfair practices detailed in the Second Schedule of the CPFTA.

125
Q

Where can consumers commence a trial for unfair practices?

A

Consumers can commence a trial in the State Courts or the Small Claims Tribunal.

126
Q

What remedies can the court order if it finds a supplier engaged in unfair practices?

A

The court may order:
a) Restitution of money or property given by the consumer.
b) Damages for any losses suffered by the consumer.
c) Specific performance against the supplier.
d) Repairs to goods or provision of parts.
e) Variations to the contract between the supplier and consumer.

127
Q

What is the jurisdictional limit for different courts under the CPFTA?

A

District Court: up to $250,000.
Magistrate Court: up to $60,000.
Small Claims Tribunal: up to $20,000.

128
Q

What is the purpose of the Small Claims Tribunals in Singapore?

A

To provide a quick and inexpensive forum for resolving small claims between consumers and suppliers.

129
Q

What jurisdiction does the Small Claims Tribunal have?

A

It can hear disputes related to claims not exceeding $20,000 and claims that exceed this limit but are less than $30,000 with written consent from both parties.

130
Q

What types of disputes can the Small Claims Tribunal hear?

A
  1. Disputes from contracts for the sale of goods or provision of services.
  2. Torts related to damage caused to property (e.g. trespassing).
  3. Disputes from contracts for the lease of residential premises not exceeding 2 years.
131
Q

What is a scenario involving residential lease disputes that the Small Claims Tribunal could address?

A

Disagreements between a landlord and tenant regarding security deposits or defective items in the leased property.

132
Q

What is the time limit for raising claims in the Small Claims Tribunal?

A

Claims must be made within 2 years from the date the dispute started.

Real Estate (19 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions