May 23 2017, 06:25 PM
1) my SPA is signed on April 2015, therefore from my understanding, developer can take their own sweet time to apply for the title, as compared to the new law in place?
2) in my SPA agreement, there is a clause stating:
QUOTE
i. The Vendor shall, at its own cost and expense and as expeditiously as possible, apply for subdivision of the said building or land intended for subdivision into parcels, as the case may be, so as to obtain the issue of a separate strata title to the said parcel under the Strata Titles Act 1985.
ii. Upon the issuance of the strata title to the said parcel and subject to the payment of the purchase price by the purchaser to the Vendor and the observance of all the terms and conditions herein provided, the Vendor shall, within 21 days execute or cause to execute a valid and registrable Memorandum of Transfer of the said parcel in favour of the purchaser and the vendor shall forward the same together with the strata title to the purchaser.
ii. Upon the issuance of the strata title to the said parcel and subject to the payment of the purchase price by the purchaser to the Vendor and the observance of all the terms and conditions herein provided, the Vendor shall, within 21 days execute or cause to execute a valid and registrable Memorandum of Transfer of the said parcel in favour of the purchaser and the vendor shall forward the same together with the strata title to the purchaser.
however, after that, there is another clause in the SPA later on:
QUOTE
The stamp duty and registration fee for this agreement and the subsequent transfer of the said Parcel shall be borne and paid by the purchaser but each party shall bear its own solicitor's costs.
Does the above mean I have to pay the fees for the transfer of title, or the developer will bear the cost? confusing
This post has been edited by raptar_eric: May 23 2017, 06:25 PM
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