I have a different opinion about Lillian's netizens upstairs! First of all, although there is a HOS property in hand, it may still be mortgaged, or the price may not be enough to pay off all debts! Therefore, it is common for Home Ownership Scheme properties to file for bankruptcy, and assuming that Home Ownership Scheme properties are still under mortgage, it is even more difficult to mortgage them, because the consent of the Housing Department must be obtained first!
My family and I jointly own a Home Ownership Scheme unit, and we don't have to pay the premium. If the family gets a bankruptcy order, I heard that there are the following situations:
1. asked me to invest to buy the other half of the ownership.
A: There is no need to pay a premium if you are willing to buy all the ownership! However, before you can apply to the Housing Department for change of ownership, you must first obtain the "Consent for Money Consideration" agreed with the Official Receiver's Office!
No matter which way you hold the property, the treatment is the same! There is absolutely no difference between who pays for the house and who pays for it! Only the bankrupt is one of the owners, although he is only a nominal owner and has never paid a penny! The property right under his name will be confiscated by the department after bankruptcy, and another owner (not bankrupt) will hold the property with the department!
Home Ownership Scheme (HOS) flats that have basically not paid premium cannot be freely transferred unless they meet the conditions stipulated by the Housing Department! And one of the owners is bankrupt and wants to change ownership, which is also one of the ways!
Please refer to the following information extracted from the Housing Department website!
According to the Housing Ordinance, ownership cannot be freely transferred unless the unit is resold in the secondary market or the premium has been paid two years after the date of first sale. However, under special circumstances, the Housing Authority (HA) may, on a case-by-case basis, approve applications for transfer of ownership. The reasons for applying for general ownership transfer are as follows:
Because of bankruptcy, the owner changed his ownership.
The transfer of ownership must be handled in the form of a transfer contract that does not involve monetary consideration (except bankruptcy cases); And the prospective transferee must be a registered family member of the property owner (except for the death of the owner).
The applicant must explain the reasons for the transfer of ownership in the application form and submit copies of relevant supporting documents, such as:
If the owner applies for the transfer of ownership because of bankruptcy, he must submit a bankruptcy order, a summary procedure order and a copy of the consent form for the transfer of ownership issued by the Official Receiver's Office.
Applicants are required to pay a handling fee (currently HK$ 2,654,38+000) when submitting their applications. Even if the application is not approved, or the applicant intends to cancel the transfer application, the handling fee paid will not be refunded.
After the application is completed, it must be sent to the lease management office.
After receiving all the documents, the housing subsidy branch office usually sends a letter to inform the applicant of the application result within about six weeks.
There is still a lot of relevant information, please visit the following web pages to check it out carefully!
housing authority/b5/residential/shos/ownership/0，，，00
2. Auction the ownership of the whole unit
A: Basically, as long as another owner does not agree, the department cannot forcibly confiscate the property for auction! Because the other owner is not bankrupt and is not regulated by the bankruptcy law, how can the department forcibly confiscate the bankrupt's private property?
Of course, the department has the right to force the sale of the property through court orders! But basically, this situation is unlikely to happen, because the court should also protect the private property of the bankrupt! You can't punish another person who has no property right just because someone else is bankrupt!
The usual practice of the Official Receiver's Office is just to nail down the property to prevent the transfer of ownership! But no matter whether another owner buys full ownership or not, he can continue to occupy the property! But if there is a mortgage, it is another matter to continue, otherwise it is another matter for the bank to recover the property! It should also be noted that these mortgage payments, plus management fees, rates, building maintenance costs and so on. All will be paid by another owner, and the department will not bear a penny!
3. If there is a deadlock (I don't buy half or sell half myself), should I nail the contract? So what will creditors get in return?
A: Yes! As mentioned above, only real estate will be nailed to the land registry!
If the bankrupt has no other assets, or has no work income after bankruptcy, then he doesn't need to pay his debts! After four years of bankruptcy, these debts can be written off without any responsibility!
However, it should be noted that the property ownership will never belong to him after bankruptcy confiscation, and he can't get the ownership back at the expiration of bankruptcy!
4. In addition, whether half of the ownership controlled by the Official Receiver's Office may come from rent, etc. If I continue to live in this unit, can the management office collect rent and other things to pay off my debts, even though I am also the owner?
A: No! The department will only ask you to buy all the ownership; Or go to court to force the sale of property; Or simply be a nail house! There is no other way to deal with it! There is absolutely no way to rent out the property (whether renting Anato or not) and pay off the debt with rent! There is also a question of filing for bankruptcy. The debtor's assets (semi-ownership) are more than debts, which does not conform to the bankruptcy principle. Is there a good chance that the court will issue a bankruptcy order if the following reasons are used?
1. unemployed. No liquid assets, only half ownership. Because the other half doesn't agree, it is impossible to sell the unit. Is this equivalent to "inability to repay debts"?
A: If the value of the property is higher than the debt, never consider bankruptcy, but choose to sell the property to pay off the debt!
Of course, I understand that there may be only one place to live, and there may be housing problems after sale! Or as mentioned in the question, another owner is unwilling to cooperate with the sale of the property, which is unexpected!
In this case, it is basically difficult for the debtor to meet the debt without selling the property! That certainly belongs to the category of "unable to repay debts"! As long as he is unable or unwilling to pay his debts, he will definitely get a bankruptcy order from the court!
2010-09-1619: 00: 09 supplement:
It seems that the netizens upstairs didn't figure out the problem!
If one of the owners has gone bankrupt, there is no problem whether he can sign it or not! Because from the moment the court issued the bankruptcy order, the ownership under his name has been transferred to the Official Receiver's Office! That's not an asset in his name. What did he sign?
The court is "absolutely" not and has no power to sign the sale of property on behalf of anyone. The court can only order the defendant to execute it, and if he refuses, he will be punished additionally!
And now that another owner is not bankrupt, how can the court sign a contract to sell the property on his behalf? The sale of common property requires the signature and consent of all owners, and all three are indispensable!
2010-09-1619: 00: 24 supplement:
Are there any HOS units that have not paid premium and are not regarded as private properties? This statement is novel enough!
Please ask this netizen to ask the owners of major HOS units and tell them that the HOS units that have not paid the premium are not their own private properties. Listen to what they have to say!
For example, Home Ownership Scheme (HOS) flats can be resold to public housing tenants or people who already hold public housing waiting lists without paying premium! So, according to this netizen, you can't get money for selling the building?
Suppose, as this netizen said, the unpaid premium of HOS flats is not private property, then why should the bankrupt worry about being confiscated? Anyway, this HOS doesn't belong to him if he doesn't pay the land price?
2010-09-17 09: 26: 35 supplement:
Right? The supplement of netizens has the following response!
First of all, there is no mortgage on this HOS property. What if the two owners reach an agreement to help the debtor pay off his debts and avoid him facing bankruptcy? (It is mentioned in the original question that the total debt should not exceed half of the value of the property) In fact, it is better to mortgage the property to the bank and borrow a private loan (it is a small loan, the amount is similar to the debt, not to apply for mortgage) to pay off the debt at one time, and then pay back the new loan in installments!
This can save the property and solve the debtor's bankruptcy trouble! Although we still have to pay off these new debts by stages, theoretically, the interest on the new loans will be lower than the original debts, and the repayment period will be longer! Enough for you to catch your breath and start over!
2010-09-17 09: 27:12 supplement:
There is also an opinion that although the land price has not been paid, the property can still be sold!
The first is to sell HOS flats to public housing residents or those who have already met the eligibility for public housing, as follows! These transactions can be completed without paying the premium first!
The second is to put the market in the free market as usual, but add a premium to the property price, which means that the buyer will bear the responsibility of the premium! In fact, this is an inevitable thing, because even if you pay the premium yourself before the sale, you will still include the premium paid in the property price, and no one will bear the premium yourself! Therefore, the buyer has to pay the land price directly, or the seller pays in advance and then takes it back from the buyer!
However, please note that the operation of the second method is more complicated, and all aspects should cooperate very well!
However, I believe the main difference is that another owner is unwilling to sell this HOS property!
2010-09-17 09: 28: 09 Supplement:
It is also mentioned that this HOS house was transferred within one year! What kind of ownership transfer is this? Can you add it!
In theory, as long as it meets the requirements of the housing management department and the transfer approved by the housing management department, it will not have any impact on the sale of real estate! Most importantly, this property has no mortgage, which avoids the negotiation of the bank!
According to the information of the Housing Department, there is no doubt that there is no need to pay premium for the transfer of ownership due to bankruptcy!
Because the ownership is only transferred from two joint owners to one of them, and because these two are registered owners of HOS flats, this transfer is not to transfer the interests of HOS flats to a third party! Only by transferring the benefits of Home Ownership Scheme to those who are not eligible for housing benefits can the land price be recovered! This is the reason and spirit why it can be sold to public housing tenants without paying premium!
2010-09-17 09: 28: 58 supplement:
Therefore, after bankruptcy, we only need to negotiate a bank code acceptable to everyone with the Official Receiver's Office, and then hand over this "money consideration agreement" to the Housing Department, and then we can start the transfer procedures! In this case, there is no need to pay the land price first!
As for the "monetary cost" required by the Official Receiver's Office, there are laws to follow and it is not enough to pay off all debts with the agency!
It should be understood this way! Since it is mentioned that the value of half ownership is higher than the total debt, if it is repurchase ownership! Of course, the asking price of the department should be enough to pay off all debts, plus 10% to 20% administrative fees. There is no need to charge half the price!
2010-09-17 09: 29: 32 supplement:
For example, the debt is 300,000, and half of the ownership is worth 500,000! The department asked another owner to buy back all the ownership at a price of 350 thousand to 400 thousand! Because this amount is enough to pay all debts and miscellaneous expenses!
If you owe 700 thousand, it is higher than the value of ownership! It is convenient for that department to ask another owner to pay 500 thousand in full! Because these assets are only worth this price, it is impossible to ask another owner to pay in advance. If so, the non-debtor will repay the debt on behalf of the bankrupt. This is against the spirit of bankruptcy law!
However, if the property is forcibly sold (as mentioned above, it is unlikely, but there are still risks), the Official Receiver's Office will charge half of the selling price, even though the selling price may be ideal, far exceeding the total liabilities! Because this situation is the sale of assets under the name of the department, the department will recover half of the sales rights according to law!
2010-09-17 09: 30:13 supplement:
The best way to deal with it is not to let the owners go bankrupt, because then the supervision of bankruptcy law will have many bad effects! It is also bad for the bankrupt, another owner and this HOS unit! Reference: cecimak's experience and understanding as a bankrupt! I hope I can help you! , wow! 00 1 upstairs, right
Is the Home Ownership Scheme without premium paid a private property? Have you stirred it?
People? If you want to know the answer, go to the department and ask questions first. If you don't know, just say something, Zhong? Dobby buried stream d? .
Like 002 knowledge? Comment column, I didn't pay the premium, but did I sell the property first? Sell? Did you receive the money first?
Are you kidding? Real money Gai Lou, if you don't pay the premium, is it me? ? More than 30 HOS owners in China and Hong Kong rioted. , there is a department on floor 0 filing for bankruptcy? What the hell? The two sides have to mortgage to pay off debts, and they have to pay tens of thousands of mosquito lawyers.
To answer your question, the Official Receiver's Office will ask me to invest in the other half of the ownership, which is a fact. However, it depends on the way of ownership (such as long-lived deeds or land deeds, who paid for it at the beginning, who contributed, and so on). ), the worst plan is to sell the whole property, and the best is to nail the lease, so that the property cannot be transferred and mortgaged. In terms of rent collection, if it is not filled in, it depends on how much you can buy. Generally speaking, it is impossible to rent out.
2010-09-1617:10: 31supplement:
But if the property is broken, the documents can't be signed, and the mortgage can't be signed. Moreover, if the court really wants to sell real estate, and you don't cooperate, the court can sign it for you to sell, not to mention private real estate. So, just talk about it, there are countless bankruptcies. ,