Alex Yeo on Land Titles (Strata) (Amendment) Bill
The Land Titles (Strata) (Amendment) Bill seeks to update the collective sale regime to better support the renewal of ageing strata-titled private developments and optimise land use, said MP Alex Yeo. Speaking in parliament on Tuesday (Sep 8), he noted that the key change is in the calibration of the consent thresholds for collective sales. He stressed the need avoid the scenario where the collective sale of older developments becomes a fait accompli. He also urged the government to consider further equitable safeguards for the larger minority of non-consenting homeowners, as well as expedite upstream changes to the Building Maintenance and Strata Management Act to mitigate the issue of inadequate sinking funds for maintenance and repair.
The Land Titles (Strata) (Amendment) Bill seeks to update the collective sale regime to better support the renewal of ageing strata-titled private developments and optimise land use, said MP Alex Yeo. Speaking in parliament on Tuesday (Sep 8), he noted that the key change is in the calibration of the consent thresholds for collective sales. He stressed the need avoid the scenario where the collective sale of older developments becomes a fait accompli. He also urged the government to consider further equitable safeguards for the larger minority of non-consenting homeowners, as well as expedite upstream changes to the Building Maintenance and Strata Management Act to mitigate the issue of inadequate sinking funds for maintenance and repair.
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