Singapore
The Singapore High Court recently addressed a property dispute involving the sale and purchase of a property at Telok Kurau Road. The case centered on the payment of $182,000 in late completion interest arising from the transaction.
In 1984, Leong Hin Realty Pte Ltd subdivided its land at Telok Kurau Road into several lots, including the Main Lot and Sub Lots. Access to the Main Lot required crossing over the Sub Lots, necessitating a right of way. The Developer retained ownership of the Sub Lots while selling the Main Lot, which was eventually purchased by the claimants.
In May 2023, the claimants offered to sell the Main Lot to the defendant, with completion scheduled for March 2024. However, issues arose regarding the right of access through the Sub Lots, leading to delays and disputes over late completion interest.
The court found that the claimants had taken it upon themselves to resolve the right of access issue without qualifying their position on late completion interest. The judgment emphasized the importance of clear contractual terms and the necessity for parties to address potential access issues proactively to avoid similar disputes in future property transactions.
