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Aug 5, 2011
True property rights require agreement by all
I AGREE with Mr Tan Keng Ann('En bloc'; Wednesday) about the plight of minority dissenters in a collective property sale.
One thing is clear. Property rights mean that when you buy property, you can buy or sell or choose not to sell, but this is not the case in Singapore.
In many other places, if you choose to sell a property, you can sell it at a price acceptable to you, and this has nothing to do with your neighbour's property.
But in Singapore, if someone wants a better price, all he has to do is to sell his neighbour's property too, no thanks to the en-bloc criterion. Three-quarters of the owner population can force the decision to sell all the units in a condominium.
And what do people mean by calling those who do not wish to sell their property 'frivolous'? If someone does not wish to sell because he is content living there, or has great memories associated with the place, does this mean he is frivolous?
To be truly meaningful about property rights, there should be 100 per cent consensus before a collective sale goes through.
Patricia Jay (Mrs)
http://www.straitstimes.com/STForum/OnlineStory/STIStory_698455.html
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