Differences Between Individual Title vs Master Title
| Individual Title | Master Title | |
|---|---|---|
| Concept | Had undergone subdivided process and issuance of separate issue document of title for each unit of property has been done. | Yet to undergo sub-divided and separate issue document of title for each parcel of property yet to be obtained. |
| Land Search | Owner’s name will be showed on the land search. | Developer or Proprietor will be the registered owner on the land search. |
| How to Obtain Property Details? | -Land Search -Assessment Receipt |
-Developer’s Confirmation -Previous Security Documents |
| Documents Used | Transfer -Form 14A (Memorandum of Transfer) Loan -Form 16A (Charge) Settlement of Loan -Form 16N (Discharge of Charge) |
Transfer -Deed of Assignment (By Way of Transfer) Loan -Deed of Assignment (By Way of Security) -Power of Attorney Settlement of Loan -Deed of Receipt & Reassignment (DRR) |
| Way to Conduct Transfer of Ownership | Presentation at Land Office. | Serve Notice of Assignment (NOA) to Developer. Section 22D(2) Housing Development (Control and Licensing) Act, 1966 |
| Outgoings Payment | Quit Rent: Land Office Assessment: Local Council |
Management Office: -Quit Rent -Fire Insurance -Maintenance Fee Assessment: -Local Council |
| Management Bodies | NIL. | Governed by Joint Management Bodies. |
| Perfection of Transfer & Charge | NIL. | Need to be done upon issuance of separate issue document of title. |
If you have any questions or require any additional information, please contact our lawyer that you usually deal with.
This article is written by
Yeo Soo Peng
Partner, Low & Partners
Chloe Yong Chi Yhin
Legal Associate, Low & Partners
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