Title Transfer

GI Jie — Sun, 16 Nov 2014 02:57:25 +0800

I have a big problem here. I am in the midst of looking for a new condo to purchase and made up my mind when I finally found one that I really liked. Trouble is that there are 2 major problems with it.

1) There is a caveat on the property
2) Ownership is in question

One. The caveat can be removed as the property was caveated by an Ah Long company. I am certain that the Ah Long is only interested in the money and not the property henceforth if the Vendor's lawyers can undertake to return the "loan" directly from the purchase sum to them, I am sure that will not be a problem.

Two. This is the dilemma as the so called Vendor has yet to transfer the property from the previous owner to himself. I know it costs quite a bit but is he legally permissible to sell the property as the "beneficial owner" of the property? Likewise, knowing all the problems connected to the S&P of the property, should I continue with it?

Is there such a thing as a "beneficial owner"? Can a vendor "buy" a property and not transfer the title immediately? Is there a legal provision allowing that?

Can someone from the property line give me some advise? Thanks

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Title Transfer