The Strata Titles Boards are quasi-judicial bodies established under the Building Maintenance and Strata Management Act (BMSMA) to resolve disputes related to strata-titled properties. The STB plays a pivotal role in mediating and adjudicating issues that arise within the context of strata living, including but not limited to inter-floor leakages, breaches of by-laws, and objections to alterations of common property.
Functions of the STB:
- Resolves disputes between subsidiary proprietors and management corporations.
- Handles applications for collective sales under the LTSA.
- Mediates in matters such as breaches of by-laws and alterations to common property.
Collective Sales (En-Bloc Sales):
A significant aspect of the LTSA is its provisions for collective sales, allowing the sale of two or more property units to a common purchaser. This process is particularly relevant for aging developments seeking renewal through redevelopment. The LTSA stipulates the requirements for majority consent among owners, based on the development’s age, to initiate a collective sale.
Process of a Collective Sale:
- Formation of a Collective Sale Committee by the owners.
- Obtaining the requisite majority consent for the sale.
- Engaging professionals for valuation and legal advice.
- Conducting a public tender to find a buyer.
- Application to the STB for approval of the sale, if necessary.