In some cases, LandBanking = Old Products in New Package.
The new package in some cases, comes with glittering brochures,Land Title Deeds/ Insurance too, affordability often with short timeframe Exits,and guaranteed max. ROI .....all too good to be true! Buyers Beware.
I wonder does the below statement also apply when people are offered investment returns on their land banking plot (like the AAA scheme one Land Banking company was using to offer 12.5% per year). If it does then consumer protection law would seem to be the only way to go for grossly overstated promises
NO LEGAL RECOURSE HERE http://www.singaporelawwatch.sg/remweb/legal/ln2/rss/legalnews/67463.html?utm_source=rss%20subscription&utm_medium=rss
'Land-banking investments involve investors acquiring direct interests in real estate rather than in securities related to real estate and, as such, fall outside the scope of the SFA and FAA.'
A Monetary Authority of Singapore spokesman, referring to the Securities & Futures Act (SFA) and the Financial Advisers Act (FAA)
In some cases, LandBanking = Old Products in New Package.
ReplyDeleteThe new package in some cases, comes with glittering brochures,Land Title Deeds/
Insurance too, affordability often with short timeframe Exits,and guaranteed max. ROI .....all too good to be true! Buyers Beware.
I wonder does the below statement also apply when people are offered investment returns on their land banking plot (like the AAA scheme one Land Banking company was using to offer 12.5% per year). If it does then consumer protection law would seem to be the only way to go for grossly overstated promises
ReplyDeleteNO LEGAL RECOURSE HERE
http://www.singaporelawwatch.sg/remweb/legal/ln2/rss/legalnews/67463.html?utm_source=rss%20subscription&utm_medium=rss
'Land-banking investments involve investors acquiring direct interests in real estate rather than in securities related to real estate and, as such, fall outside the scope of the SFA and FAA.'
A Monetary Authority of Singapore spokesman, referring to the Securities & Futures Act (SFA) and the Financial Advisers Act (FAA)