Singapore legislation
Regulation 11
Regulation 11
Redemption of subsisting mortgage upon grant of temporary occupation permit
Where the land on which a building project is carried out is subject to any subsisting mortgage or charge, the licensed housing developer shall, upon payment by a purchaser of a unit in the building project of the instalment of purchase money payable towards the purchase of the unit upon the grant of the temporary occupation permit by the Building Authority for the unit, discharge all mortgages and charges in respect of the purchaser’s unit and shall not further encumber it.