{"id":107101,"date":"2019-05-14T10:51:44","date_gmt":"2019-05-14T03:51:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/joint-tenancy-contracts-for-muslims-now-deemed-religiously-valid\/"},"modified":"2019-05-14T11:04:25","modified_gmt":"2019-05-14T04:04:25","slug":"joint-tenancy-contracts-for-muslims-now-deemed-religiously-valid","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/joint-tenancy-contracts-for-muslims-now-deemed-religiously-valid\/","title":{"rendered":"Joint tenancy contracts for Muslims now deemed religiously valid"},"content":{"rendered":"


\nThe Fatwa Committee of Singapore has acknowledged joint tenancy agreements in Singapore as religiously valid.\u00a0
\nJoint tenancy contracts entered into by Muslims are now considered religiously valid, even without the need of drawing up additional documents.\u00a0
\nAs such, joint owners of the property now have the option of choosing either a joint tenancy or tenancy-in-common contract.
\nThe fatwa, or religious advisory, on joint tenancy contract was issued by the Fatwa Committee of Singapore, revealed the Islamic Religious Council of Singapore (Muis) in a press release on Monday (13 May).
\n\u201cUnder the joint tenancy contract, each of the co-owners together own the whole interest in the property. If one were to buy property under a joint tenancy contract, the right of survivorship applies. This means that upon the death of one of the tenants, the surviving co-tenant would have absolute ownership of the property,\u201d said Muis.
\nEach co-owner under tenancy-in-common contract, on the other hand, holds a separate and distinct share of the property that is passed on to a beneficiary according to Islamic inheritance law, upon his or her death.
\nWith this, prospective homeowners are advised to carefully consider both options while understanding the implications of the surviving joint tenant and beneficiaries.
\nBut while a joint tenancy contract is \u201ctypically the better option as it safeguards the interest of one\u2019s immediate family in the event of one\u2019s passing\u201d, there are other possible scenarios in which a tenancy-in-common contract is the more appropriate option, noted the Islamic body.
\n\u201cOwners must deliberate responsibly and decide on the best choice possible according to their personal circumstances,\u201d it added.
\nOwners are also encouraged to consult a legal professional \u201cbefore purchasing their property to clear any doubts and to ensure that no negligence and injustice is inflicted on the surviving party\u201d, said Deputy Mufti of Singapore, Dr Nazirudin Nasir.
\nThe new fatwa applies in case an owner of a joint-tenancy house has passed away prior to its release, and the surviving owner has not sold the house yet.
\nVictor Kang, Senior Content Specialist at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Joint tenancy contracts for Muslims now deemed religiously valid<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Fatwa Committee of Singapore has acknowledged joint tenancy agreements in Singapore as religiously valid.\u00a0...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107101","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rRr","jetpack-related-posts":[{"id":112280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-urged-to-remove-joint-tenancy-requirement-for-public-rental-flats\/","url_meta":{"origin":107101,"position":0},"title":"HDB urged to remove joint tenancy requirement for public rental flats","date":"November 11, 2019","format":false,"excerpt":"\r This comes after 39% of surveyed said they have problems getting along with\u00a0co-tenants in HDB\u2019s public rental scheme. 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Both are mortgage-free.My\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35778,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-you-be-prepared\/","url_meta":{"origin":107101,"position":2},"title":"Will you be prepared?","date":"November 25, 2016","format":false,"excerpt":"\r Estate planning is necessary, and especially important if you have children to whom you would like to leave your property. Here are some essential tips you must know if you are planning to do so. 1. \u00a0What happens without a will? 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