A.K.B 48 Realty

Sales of Condo Proceeds To Be Spilt By Order Of Court

Sales of Condo Proceeds To Be Spilt By Order Of Court

The Hillview Condo

The brothers purchased the Hillview condominium 16 years ago for $880, 440.

Cheong Kok Leong, nevertheless, promised the money was a loan that he had already paid with TODAYonline reported back.When he retired as a contractor, the senior Cheong saw his income drop in late 2004. With this, he started urging his brother to sell the $880,440 condominium they bought in 2000 to realise his investment.

The Story begins…

By issuing him three cheques totalling $87,000 in dividends. for decades, the smaller brother foisted him off The defendant also claimed there were 65 other occasions when he gave money to his brother, which amounted to $320,000.

As such, he had efficiently reimbursed the older brother and had given him an additional $120,000, which constituted bad debts, said the defendant in his countersuit.Judicial Commissioner Audrey Lim, nevertheless, was not convinced by the defendant’s account.In ruling for the older Cheong, the judge questioned why someone would invest a lot of money without setting interest rates or fixed repayment dates. Both parties had agreed on an equivalent share in the unit, while the contribution of the older brother was only a portion of the property’s acquisition cost, said JC Lim.

The Verdict

The truth is, the younger Cheong, who’d taken out the maximum mortgage, wouldn’t have really been able to buy the property without the plaintiff’s contribution.“It wasn’t as though the agreement represented a poor deal for the defendant.

Because of this, the judge ordered the younger man to sell the property, which he split the proceeds with his brother, and declared entirely in his name. He also has to return the latter’s share of rental income over time, including the interval instead of renting it out where he stayed in the condominium.

Did you know?

With the downtrend of property market, it’s common practise to encash the property by selling it. Indicating that selling price will be soft. So one could either wait for a good buy or spot any good new launch in 2017 as the price will be more justifiable. Experts are looking into the new development by LendLease – Park Place Residences and CEL – Grandeur Park Residences..

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Mcc Land Another New Plot at Tampines – The Alps Residences

Mcc Land Another New Plot at Tampines – The Alps Residences

The Alps Residences is a brand new condominium under the esteemed developer MCC Land. The Alps residences supply residents a true home sweet home that many wanted includes of various unit to cater for people as well as family. TOP is anticipated to be in 2020.

The Alps Residences has units that showcase offers and spaciousness convenience to every house-seekers. Total height windows add on to breathing and the natural brightness of the unit itself.

Modern and luxury facilities are present inside the property allowing future residents to live the way of life they want. You can even have your celebration or event on the really own function room of the property.

The Alps Residences is also encircled with innumerable comforts that can help you with your day-to-day needs and actions. Shop and dine on the closest malls, food centres and restaurants that contain Spize @ Bedok,Tampines Round Market and Food Centre, Tampines 1, White Sands, Tampines Mall, Century Square, and Elias Mall.

In addition , there are several well-known schools that offers superb quality of instruction. Greatest schooling for your children are only minutes away from house. A few other conveniences comprise Woods Experience, Sun Plaza Park, Changi General Hospital, Tampines Swimming Complex, Singapore Expo and Changi Business Park.

Love a luxury house that’s encompassed with great variety of conveniences. Refined inside in a contemporary structure is what this development is comprised of.

photo provided by photo studio instant glamour

photo provided by photo studio instant glamour

Numerous roads and expressways link the Alps Residences to lots of different places in Singapore. Some of the important expressways that links the property contain Tampines Expressway, Pan Island Expressway and East Coast Parkway. Commuters have the convenience of going by bus or MRT. MRT stations nearby two forthcoming stations and Pasir Ris MRT specifically Tampines Tampines West MRT and Downtown MRT.

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