Developer Foul Play On LAD, LAD
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 Mar 25 2015, 11:48 AM
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#1
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All Stars
33,707 posts Joined: May 2008 
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What I heard is that developers are always very nasty in paying LAD.
Sometimes when they are required to pay 3 months, they only pay you 1 month. Take it or leave it. One has to decide whether he wants to take the long and painful legal process. |
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Mar 26 2015, 05:01 PM
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#2
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All Stars
33,707 posts Joined: May 2008
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QUOTE(whyang80 @ Mar 26 2015, 04:47 PM) For info sharing : Tribunal got people take call one ? So nice.I just got off the phone with the Tribunal. The person in charge stated that the Court has already decided that LAD payment is from Purchase Price. Latest case Nov2014 confirmed that LAD must be calculated from Purchase Price in S&P and Not Discounted Price. The person in charge attributed that many such cases from developers not following the protocol. Requested me to submit for tribunal.  |
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Mar 29 2015, 10:35 PM
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#3
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All Stars
33,707 posts Joined: May 2008
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QUOTE(red_scorpion @ Mar 29 2015, 10:15 PM) Wah...I had purchased MCT another property -> the place one city in 2012 with DIBS, signed SNP on Jun 2012. You have to refer back to the document which you got from developer. Developers never include Dibs in the SNP.So if they can't handover the keys by June2015, I can claim this also? My SNP also written with purchased price not discounted price. Is it after 3 years, the DIBS will be automatically cancel even thought they haven't handover key to us? They won't pay interest on behalf of us anymore? I have to pay myself and claim this LAD? tq There are various implementations. There is no standard DIbs per se. |
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Mar 29 2015, 10:46 PM
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#4
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All Stars
33,707 posts Joined: May 2008
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QUOTE(The Jedi @ Mar 29 2015, 10:42 PM) stupid MCT! Chinaman.save pennies by breaching SPA terms but lost reputation and trust! |
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