RES exam question on Private Property Sale: A new private residential condominium has just received its Temporary Occupation Permit…
A new private residential condominium has just received its Temporary Occupation Permit (TOP) from BCA. Consider the following statements: (i) TOP allows the developer to issue Notices of Vacant Possession (NVP) to purchasers, who can then take physical occupation of their units. (ii) Individual strata titles (Subsidiary Strata Certificates of Title) for each unit are typically issued after the Certificate of Statutory Completion (CSC), not at TOP. (iii) Once TOP is issued, the developer has fulfilled all obligations under the Housing Developers Rules and may immediately release all Project Account monies. (iv) The one-year defects liability period under the Housing Developers Rules typically commences upon the purchaser taking possession under TOP, not upon issuance of CSC. Which statements are CORRECT?
- A(i) only
- B(i), (iii) and (iv) only
- C(i), (ii) and (iv) only
- D(i) and (ii) only
Show answer & explanation
Answer
C. (i), (ii) and (iv) only
Explanation
Statement (i) CORRECT — TOP (issued by BCA) allows the building to be occupied; the developer issues NVPs and purchasers can move in. Statement (ii) CORRECT — individual strata titles (SSCTs) are typically issued after CSC, once the building is fully completed and complies with all approved plans; TOP is granted before full completion. Statement (iv) CORRECT — the defects liability period (typically 12 months) generally begins when the purchaser takes possession under TOP/NVP, not upon CSC issuance.
Why the other options are wrong
- Statement (iii) INCORRECT — Project Account monies remain regulated even after TOP; full release requires CSC and completion of all sales/legal obligations.
Study the concept behind this question: Sale of Uncompleted Private Property (New Launches)
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