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2/09/2007

en bloc, where is your right?

A couple lost their case against en bloc sales because the majority voted in favour of the sale and they lost money from it. Just too bad. The majority can vote away your rights and interests. And no, they did not lose any money. According to the reasoning, CPF money lost in the transaction is not considered a loss. I can't believe the logic and cannot believe any authoritative definition of what constitutes a financial loss and not a financial loss. I only know that a loss is a loss no matter how clever is the argument or imagination.

1 comment:

Matilah_Singapura said...

Your "right" doesn't included the "right" to be the lone stubborn individual to hold out at the expense of the others. (Your home is you private property)

The "rights" of the others do not include the "right" to act so that one single individual loses out. (Their homes are their private property)

The conflict here could be simply solved by CONTRACT, which is struck when the property was originally purchased (many years before the en bloc sale). For e.g. if they get a vote of 90 +% (aka a "super" majority) to accept the price for an en bloc sale, then it goes ahead, and those who don't agree, can still disagree, but they must comply because they have accepted the contractual conditions.

To avoid possible conflicts, it is best to have clear contracts struck, a rule of law which upholds contracts, and a respect for private property by everyone (not always possible).