Types of Land Title
In Singapore, there are 3 main forms of property titles:
There are 2 types of freehold estates. Firstly, a fee simple freehold estate means that the property owner owns the property indefinitely without the need to pay any rent. Upon his death, the property passes on to his successors.
Secondly, a life estate confers ownership for the duration of the property owner’s lifetime only. This form of ownership is much rarer.
Leasehold estates may either be granted for 999 years or 99 years. The land belongs to the State, who leases the property out for a fee, in consideration for exclusive possession and use.
Estate in perpetuity
These are similar to a fee simple estate in that the ownership is of unlimited duration. However, such estates are subject to a number of conditions such as the payment of any applicable rent.
Types of Land Ownership
Joint tenants must hold the property equally. If A and B are joint tenants, upon the death of A, A’s interest in the property will automatically be transferred to B. This is irrespective of any Will by A or intestacy rule directing otherwise, i.e. the right of survivorship.
Tenants in common
Tenants in common may hold the property in equal shares or in other proportions. Under this form of ownership, the rights, title and interest of A upon his passing will be distributed according to his will or any intestacy rule should it apply.
Types of Residential Property
Residential property in Singapore can be classified into the following categories, namely :-
• Public housing i.e. HDB flats
• Public-private hybrids i.e. Executive condominiums
• Private housing i.e. condominiums, apartments, landed property, shophouses, cluster housing etc.