land department transaction coordinator salary

Understanding the Procedures for Acquiring Legal Titles to CBS Properties and Land

As a land department transaction coordinator, it is essential to understand the procedures involved in acquiring legal titles to properties and land under the Civil Servants' Co-operative Building Society (CBS) Scheme. The scheme was introduced by the Government as an old form of civil servant housing benefit, allowing eligible civil servants to build residential buildings for their own occupation through forming cooperative societies.

Under the CBS Scheme, members can acquire titles to their properties and land by deeds of assignment after the dissolution of the CBS. To remove alienation restrictions, owners must apply to the relevant authorities and pay a two-thirds land premium. The legal titles of the land and buildings are held by the respective Civil Servants' Co-operative Building Society (CBS) and its members have the right to use the flats only.

The process begins when a member obtains a title to their property and an owners' corporation is formed. They can then apply to remove alienation restrictions as stipulated under the lease agreement. The CBS may also apply for dissolution by way of the Modification of Lease Approach, subject to specific alienation restrictions, with the consent of 75% of its members.

It is crucial for land department transaction coordinators to understand these procedures and estimated timescales for processing applications, which can be found on the Application Form and Leaflet. By doing so, they can ensure a smooth and efficient process for their clients in acquiring legal titles to their properties and land under the CBS Scheme.

Land department transaction coordinator salary