Source : The Straits Times, Oct 12, 2007
IN ANY collective sale, minority owners who love their homes and neighbourhood or who have family members living in several units in the same condominium are particularly hard hit.
The en bloc law should therefore be amended to give minority owners the option of asking for a one-for-one exchange, instead of having to accept cash like the majority owners.
The details can be worked out so that it is mutually agreeable to the minority owners and the developer.
Arranging an en bloc deal will then no longer be as easy as getting 80 per cent of the owners on board. Real-estate agencies will now have to satisfy the wishes of the minority owners too.
Harry Yip Kuan
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