Gift

• Transfer without monetary consideration
• Must by fully paid up, CPF returned
• Within 3 years, if grantor is adjudged bankrupt, the gift is voidable
• During benefactor lifetime: inter vivos gift
• Stamp duty payable at market value
  • No need for inheritance (by will)
• Joint tenancy cannot gift away a part

Trust

• Trustor (Settlor) -> Trustee (legal owner) -> Beneficiaries (equitable owner)
• Appoint trustee(s) to hold and administer for a beneficiary
• Max 4 trustees
• Stamp duty has to be paid
• If Will and Trust conflict, Trust will prevail
• Living Trust = while trustor living, usually in secrecy

Succession

• Testate = has a will
  • Home-made is fine
  • 2 witnesses present; cannot be spouse of beneficiaries
  • Executor apply Grant of Probate
• Intestate = no will -> Intestate Succession Act
  • 50% to spouse, 50% split among children
  • Apply Letters of Administration
• CPF Nomination
• Muslim has “Faraid”
  • Max One-Third of Estate = to non-kins
  • 2 male witness, or 2F + 1M

Divorce

• 3 years -> file writ
• Interim, then final judgement
• Muslim in Syariah Court

Interests in Land

• Undivided Share in Land = owned by all owners jointly or in common
• Joint Tenancy
  • Right of survivorship
  • 4P: Unity of Possession, Interest, Title, Time
• Tenancy-in-Common
  • Each has definite share
  • Unity of Possession only

Land Development

• Master Plan: guide 10-15y, reviewed every 5y
• Long Term Plan: guide 40-50y, reviewed every 10y
• Harmonisation 2023
  • Measure to middle of wall
  • All strata included as GFA
    • Previously, aircon ledge <1m not counted, yet counted in PSF
  • Voids excluded from strata
    • Previously, high ceilings voids not counted, yet counted in PSF
• Plot Ratio = floor area : site area
• Conservation
• Preservation more stringent
• B1 zone
  • Quantum control: Max 40% for ancillary eg. offices
• URA for change of use