I understand the lease buyback is that the Govt will pay for the remaining years of the lease. Its only available to folks passed retirement age from what I have read.JR8 wrote:Do you have any form of this re: this scheme?
Australia being 10,000+ times larger than Singapore, maybe you're not aware of the legal ramifications of multi-storey/leasehold living? Maybe you don't know that even with 'freehold' land, you, don't actually own it? It's all just levels of temporary tenure...PNGMK wrote:Once again, more proof that a HDB flat is not 'property' as far as I am concerned.
I've always been aware that title is only as secure as the government behind it (cue all the miserable tales of expats losing land they thought was title in Thailand as the new government reviews all titles!).JR8 wrote:Australia being 10,000+ times larger than Singapore, maybe you're not aware of the legal ramifications of multi-storey/leasehold living? Maybe you don't know that even with 'freehold' land, you, don't actually own it? It's all just levels of temporary tenure...PNGMK wrote:Once again, more proof that a HDB flat is not 'property' as far as I am concerned.
Looking at the scheme. It's aimed to allow elderly HDB owners to release equity from their homes.
They sell their ownership and get granted a lease in return. If you're hard up and have no heirs then why not.
Cute here though, you don't get cash in hand, rather, it gets put in your mythical and mystical CPF pot-of-gold.
--- Imagine this Disney-hell scenario, where CPF goes tits-up... after all, it is apparently run by a tight little inner-circle....
Well yes, but that hasn't been a concern in the UK for 1,000 years.PNGMK wrote:I've always been aware that title is only as secure as the government behind it (cue all the miserable tales of expats losing land they thought was title in Thailand as the new government reviews all titles!).
True. I love thought how people who don't think these things go on about 'it's my property' or 'it's our country' - without thinking through that the idea of ownership requires cooperation and trust from your community. Just look at how ISIS are destroying property rights in Iraq and Syria.JR8 wrote:Well yes, but that hasn't been a concern in the UK for 1,000 years.PNGMK wrote:I've always been aware that title is only as secure as the government behind it (cue all the miserable tales of expats losing land they thought was title in Thailand as the new government reviews all titles!).
More to the point if you '''own''' land in Australia, er, actually the Queen owns it, and you just have a temporary though heritable right to occupy it. Die intestate, and it goes straight back to Aunt Betty.
PNGMK wrote:True. I love thought how people who don't think these things go on about 'it's my property' or 'it's our country' - without thinking through that the idea of ownership requires cooperation and trust from your community. Just look at how ISIS are destroying property rights in Iraq and Syria.
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