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Property Legal Advice

Asked by Anonymous 9 Jul 2019

I want to know, does my lawyer get the redemption statement from the previous owner or is it from the previous owner's bank? And, how long does it normally takes (if there's no complication)?

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David Wong Lai Kwong · Answer 1 · 2019-07-13T18:22:29+08:00

David Wong Lai Kwong

Replied 13 Jul 2019

The redemption statement is usually provided by the Owner's chargee bank upon request by your lawyer. Usually it is quite easy to obtain from the bank. However, the redemption statement is usually valid for one month only and if the Purchaser's bank failed to redeem the amount on time then the Purchaser's lawyer will have to request for a new redemption statement for accrued interest. Read More

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