Whenever you buy a property in Singapore, there are two ways that you can buy it. When you buy it on your own, it is known as Ownership in Severalty.
If you own your property with others, it is called a concurrent estate.
A concurrent estate may be a Joint Tenancy or a Tenancy in Common.
So what is the difference?
Most common in Singapore is the Joint Tenancy.
In Joint Tenancy, every tenant has an equal share of the property. They have the same set of documents, and ownership at the same time.
What that means is that in a Joint Tenancy, there is Unity of Time, Title, Interest and Possession.
If any of these 4 unities are broken, it is a Tenancy in Common.
This is a more adaptable version of concurrent ownership.
For Example, John may own 10%, while Mary owns 20%, and Martha Owns 70%.
The only thing that Tenants in common share is Possession.

When you make your next purchase of any property, with others, make sure you choose Tenancy in Common, even for purchases of Housing Development Board HDB flats. This option is available, in case you did not know.
Hope you find this video helpful in making your next property purchase.
#sgniceproperty #decoupling #absd

свернуть