Comparison Tables

Void vs Voidable Contract Breach of Condition vs Warranty Ways to Discharge a Contract Joint Tenancy vs Tenancy in Common Privity of Contract vs Privity of Estate OTP — New Launch vs Resale Private vs HDB Resale HDB Resale vs Private Resale — Key Differences ABSD Rates (2023 Revised — Residential)SSD Rates — Residential vs Industrial HDB Loan vs Bank Loan Dispute Resolution Methods When CEA Forms Apply vs NOT

Void vs Voidable Contract

Aspect	VOID	VOIDABLE
Legal effect	No legal effect from the start (ab initio)	Valid until set aside by innocent party
Who can end it	Either party or court; treated as non-existent	Innocent party only can elect to rescind
Causes	Incapacity (minor/unsound mind) \| Fundamental Mistake \| Illegality (e.g. backdated contract)	Misrepresentation \| Duress \| Undue Influence
Remedy	No damages; money/property returnable if possible	Rescission (set aside) + possibly damages
Can it be ratified?	No	Yes — innocent party may choose to affirm/continue
Example (property)	Seller of unsound mind signs OTP; contract backdated	Agent misrepresents unit size; buyer was pressured

Breach of Condition vs Warranty

Aspect	Condition (Major Term)	Warranty (Minor Term)
Importance	Goes to the root of the contract	Secondary/incidental term
Effect of breach	Innocent party may TERMINATE the contract AND claim damages	Innocent party can only claim DAMAGES; cannot terminate
Example	Property title is defective (can't transfer clear title)	Seller fails to include one piece of agreed furniture

Ways to Discharge a Contract

Aspect	Method	Details
Performance	Both parties complete all obligations	Contract ends naturally
Agreement	Parties mutually agree to end it	E.g. both agree to cancel sale
Frustration	Impossibility due to unforeseen event outside parties' control	E.g. government compulsorily acquires land; fire destroys property before completion; buyer dies
Non-performance	One party fails to perform	Leads to breach of contract → remedies apply

Joint Tenancy vs Tenancy in Common

Aspect	Joint Tenancy (JT)	Tenancy in Common (TIC)
4 Unities	Required: Title, Time, Interest, Possession	Only Possession required
Shares	Equal shares only; cannot specify proportions	Can hold unequal shares (e.g. 60%/40%)
Right of survivorship	YES — deceased's share automatically to surviving co-owners	NO — share passes by will or intestacy
Can will away share?	NO	YES
Termination of JT	Severance converts to TIC: mutual agreement, sale of share, court order, bankruptcy	N/A — TIC ends by sale of all shares or partition
HDB default	Couples default to JT; can apply to convert	Can convert with HDB approval; common for investment

Privity of Contract vs Privity of Estate

Aspect	Privity of Contract	Privity of Estate
Meaning	Rights & obligations under the original lease agreement	Rights & obligations that come with holding the landlord/tenant relationship
Original LL + TT	YES — both signed TA	YES — both currently in landlord/tenant position
LL assigns to LL2	LL1 still has privity of contract with TT; LL2 does NOT	LL2 now has privity of estate with TT; LL1 loses it
TT sublets to TT2	TT1 retains contract with LL; TT2 has contract with TT1	TT1 has estate with LL; TT2 has estate with TT1
Novation (TT2 replaces TT1)	TT2 has new contract with LL; TT1 released from all liability	TT2 has estate with LL; TT1 has no estate

OTP — New Launch vs Resale Private vs HDB Resale

Aspect	New Launch (Developer)	Resale Private
OTP issued by	Developer	Seller (through agent)
Booking fee	Varies (often 5% or per payment schedule)	Typically 1% of purchase price
Exercise period	Typically 3 weeks	14 days
Exercise fee	Balance to reach 20% (incl. booking fee)	4% more (total 5% deposit)
S&P signing	Within 2 weeks of exercising OTP	Simultaneously with exercise or within 14 days
BSD/ABSD	Payable within 14 days of exercising OTP	Payable within 14 days of exercising OTP
Balance payment	Progressive payments during construction	Full balance at legal completion (8–12 weeks)
Completion	On TOP/CSC; vacant possession within 3 years	On legal completion date; keys handed over

HDB Resale vs Private Resale — Key Differences

Aspect	HDB Resale	Private Resale
OTP form	HDB prescribed OTP (mandatory)	Standard OTP (negotiated terms)
CEA forms required	YES — CEA prescribed estate agency agreements	YES (for residential completed property in SG)
Option fee	Max $1,000 (for flats ≤4-rm); max $2,000 (5-rm+)	Typically 1% (negotiable)
Deposit at exercise	Up to max $5,000 total (incl. option fee)	Typically 9% more (total 10%)
HFE required	YES — HDB Flat Eligibility letter must be obtained first	Not required
ABSD	Residential ABSD rates apply	Residential ABSD rates apply
CPF grants	CPF housing grants available (Family, EHG, PHG)	No CPF housing grants
Ethnic Integration	EIP applies — neighbourhood & block limits	No EIP restrictions

ABSD Rates (2023 Revised — Residential)

Aspect	Buyer Profile	ABSD Rate
SC — 1st property	Singapore Citizen	0%
SC — 2nd property	Singapore Citizen	20%
SC — 3rd+ property	Singapore Citizen	30%
SPR — 1st property	Singapore Permanent Resident	5%
SPR — 2nd property	Singapore Permanent Resident	30%
SPR — 3rd+ property	Singapore Permanent Resident	35%
Foreigner — all	Non-SC, non-SPR	60%
Entity (company)	All entities	65%
Developer — upfront	Property developer	5% upfront
Developer — additional	If > 35% unsold after 5 years	Up to 35% additional

SSD Rates — Residential vs Industrial

Aspect	Residential SSD	Industrial SSD
Sold in Year 1	12%	15%
Sold in Year 2	8%	10%
Sold in Year 3	4%	5%
After 3 years	0%	0%
Commercial SSD	No SSD for commercial	— (see residential/industrial)

HDB Loan vs Bank Loan

Aspect	HDB Concessionary Loan	Bank Loan
Eligibility	At least 1 SC; income ≤ $14,000/month; ≤ 2 previous HDB loans	Assessed by bank; no citizenship restriction for private
Max LTV	80%	75% (1st property, no existing loans)
Min cash down	None specifically — CPF can cover the difference	5% in cash; up to 20% in CPF
Interest rate	2.6% p.a. (fixed; 0.1% above CPF OA rate)	Variable — SORA-pegged; typically lower initially
Max tenure	25 years; youngest age + remaining lease ≥ 95	30 years or until age 65, whichever earlier (25 yrs for HDB)
MSR limit	30% of gross monthly income	30% of gross monthly income
TDSR limit	Not applicable (HDB loan only)	55% of gross monthly income
CPF deduction	All CPF deducted; may keep $20K in OA	Max 75% LTV; CPF for down payment and instalments
HPS required?	YES — Home Protection Scheme (life insurance on HDB)	Not required (own life insurance arrangements)
Fire insurance	Required (5 years)	Required (arranged by bank)

Dispute Resolution Methods

Aspect	Method	Key Characteristics
Negotiation	Direct between parties	Cheapest, fastest; NOT legally binding
Mediation	Neutral mediator facilitates; SMC (Singapore Mediation Centre)	Some cost; faster than arbitration; NOT legally binding
Arbitration	Arbitrator decides; SIArb (Singapore Institute of Arbitrators)	Costly; LEGALLY BINDING; private setting
Litigation	Court proceedings	Costly; LEGALLY BINDING; public setting

When CEA Forms Apply vs NOT

Aspect	CEA Forms REQUIRED	CEA Forms NOT Required
Property type	Completed residential properties in Singapore	Overseas property
		Non-residential (commercial, industrial, shophouse)
		Developer new launch sales (uncompleted)
		En-bloc sales

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