Asked by k***@gmail.com
A plot of land with a master title of 99 years lease expiring 2079 .The land is then developed into condominium and construction started in 1990. construction completed in 1992 and keys handed over to purchasers. The strata title was issued and dated June 2001. the strata title states that the lease is 99 years and expires on 2 September 2079. So. it means the lease on the strata title is only 78 years and not 99 years.
Am I correct to say that the strata title is only 78 years and not 99 years. My understanding is that when a master title on lease land for 99 years, being developed into condominiums ,surrenders the master title to land office for land office to issue individual strata titles for each unit of condominium, the 99 years lease for the individual strata title commences from the day the master title is surrender to land office or the day the individual title is issued. so what is the legal position under the national land code on the rightful and legal date for the commencement of the 99 years for the individual strata title.
Am I correct to say that the strata title is only 78 years and not 99 years. My understanding is that when a master title on lease land for 99 years, being developed into condominiums ,surrenders the master title to land office for land office to issue individual strata titles for each unit of condominium, the 99 years lease for the individual strata title commences from the day the master title is surrender to land office or the day the individual title is issued. so what is the legal position under the national land code on the rightful and legal date for the commencement of the 99 years for the individual strata title.
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