The condo area including common area sits in two parcel of land (two master title); one is freehold and the other one is leasehold. This is one major information about the condo that most buyers were not aware of when the condo was launched in 1995, and this has led to a deadlock for the developer to obtain the strata title.
The dilemma is, in order for the developer to apply for strata title for the condo, both lands need to be amalgated to become under one new master title. The issue is that the lands have two different status, one is freehold and the other one is leasehold. The leasehold land needs to be converted to a freehold land before amalgation of both lands can be done. There is a premium to be paid to the Land Office for status conversion but the developer refuses to pay the premium. And no owner in his right mind would want to have the freehold land converted to a leasehold land.
So, the owners are in a jam. It looks like a stalemate since the developer is saying they can't do anything to resolve this issue and the Land Office can not waive the conversion premium. We can only hold on to the SPA clause where the developer is responsibled to issue individual strate titles to the owners, but the developer is not binded as to when they should issue the titles to the owners.
The residents are planning to sue the developer over this matter, but I doubt the case will be heard in court in the very near future. It could drag until the cows come home.
Is it time to call on the media's attention? I'm comtemplating of calling Puspa of TV3 to report to the public of our dilemma over the strata title.
This post has been edited by Stamp: Apr 17 2012, 04:42 PM
Apr 17 2012, 04:41 PM, updated 9y ago
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