Property News · January 25, 2022

What you need to know when purchasing properties with a previous deed of gift


Risks exist in the purchase of properties where there was a previous assignment at nil consideration or a deed of gift, as the transaction could be set aside should the previous owner go into bankruptcy or liquidation within five years of the or winding up petition.To protect the interests of their clients, estate agents should bring the purchasers’ attention to the possible risks when they are handling transactions involving such properties.Potential risks associated with purchasing properties…

Source : South China Morning Post
Read more…What you need to know when purchasing properties with a previous deed of gift

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