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Can We Sell 99 Years Lease Property?

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0 2024-07-25T18:30:41+00:00
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When it comes to 99-year leasehold properties, there are a few important things to consider:

  1. Lease Duration: A 99-year lease means that the property is leased for a period of 99 years from the time of construction. After this period, the original owner can reclaim authority over the property.

  2. Options at Lease End:

    • Lease Top-Up

      : Property owners have the option to top-up the lease directly with the relevant authority (e.g., Singapore Land Authority) by paying a premium. This extends the tenure of the lease.

    • En-Bloc Sale

      : Alternatively, owners can sell their property to a third-party developer through a collective or en-bloc sale. In this case, the developer acquires the property and decides its future use (commercial or residential).

  3. Rejuvenation and Redevelopment: As a general policy, leasehold land is returned to the state upon lease expiry. This allows for rejuvenation and redevelopment to meet new social and economic needs. Therefore, a 99-year lease property can be handed down for one or two generations before it is returned for redevelopment.

Remember that legal procedures and documentation may vary depending on the specific location and regulations.

Need help with property registration and document verification? Contact NoBroker Legal experts to get end to end assistance here

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