[CRS-260236] Bankruptcy, Debt & Finance affecting Property Transactions (BDFP)
CPD Category: Professional Competencies under Structured Learning (4 training hours awarded)
Course Duration: 4.0 hours
Funding: Not Eligible for UTAP funding
Course Synopsis:
This course provides a comprehensive understanding of how bankruptcy, debt and finance affect property ownership and resale in Singapore. It addresses legal processes, property-related challenges, and practical solutions for Real Estate Salespersons navigating these complex situations.
Overview of bankruptcy and it’s administration, discharge and annulment, and Case Studies and Practical Scenarios on the different and unique scenarios. How bankruptcy or mortgage default affects the property ownership, duties and CPF, and the property sale procedures and documentation.
How debt and finance relate to the caveat, moneylending, fraud, claims and suits, and the effects of bankruptcy or poor credit ratings regarding property purchase financing.
Course Objective(s):
At the end of the course, participants / learners will be able to:
- Define the Legal Framework and mechanism of the bankruptcy process, and the associated legal requirements.
- Understand how bankruptcy (or finance) affects property ownership, the application of duties and CPF, and the property sale procedures.
- Recognize the mechanism of caveat and debt recovery, regulation of the moneylending, the real estate frauds and scams and the legal claims and suits.
- Identify the effects of bankruptcy and poor credit rating affecting the purchase of property and the various possible solutions and alternatives.
Learning Outcome(s):
Upon completion of this course, participants will be able to:
- Understand the Legal Framework Governing Bankruptcy
- Explain the legal framework, processes, and mechanisms relating to bankruptcy and insolvency.
- Interpret the legal requirements and obligations of bankrupt individuals in property-related transactions.
- Understand the roles of relevant regulatory authorities and stakeholders involved in bankruptcy matters.
- Analyse the Impact of Bankruptcy and Financial Issues on Property Ownership and Transactions
- Assess how bankruptcy and financial difficulties affect property ownership rights and interests.
- Explain the application of stamp duties, CPF usage, and restrictions involving bankrupt property owners.
- Evaluate the procedures and considerations involved in the sale and disposal of properties owned by bankrupt individuals.
- Recognise Caveats, Debt Recovery Processes, and Legal Risks in Real Estate Transactions
- Explain the purpose and effect of caveats in protecting legal interests in property.
- Understand debt recovery mechanisms and their implications for property transactions.
- Identify the regulatory framework governing moneylending activities.
- Recognise common real estate frauds, scams, legal claims, and litigation risks affecting consumers and practitioners.
- Evaluate the Effects of Bankruptcy and Credit Standing on Property Purchases
- Identify how bankruptcy and poor credit ratings affect eligibility for property financing and ownership.
- Analyse the challenges faced by affected purchasers in property transactions.
- Evaluate potential solutions, restructuring options, and alternative pathways for property acquisition.
About the Trainer
Mr Sunny Wong
Sunny has been in the Real Estate Industry since 2000, and has wealth of knowledge and experience across diverse sectors of property transactions. His expertise extends beyond sales and leasing to include project in-charge for local new condominium launches, and he later expanded into marketing and consultancy for overseas properties, covering markets such as Myanmar, Cambodia, and Malaysia. He has also served as a keynote speaker for foreign property hotel launches in Singapore.
Holding an Honors Degree in Engineering and a Graduate Diploma in Business Administration, Sunny began his career as an engineer in the oil and petrochemical industry before making a bold transition into real estate—a move he has never regretted.
Sunny is now actively involved in collective property sales in Singapore, where he leads agendas, orchestrates meetings, spearheads operations, and manages tenders. His efforts culminated in the successful transaction of the mixed-use commercial and residential development, Selegie Centre.
As a certified WSQ ACTA Trainer, Sunny teaches Real Estate Salesperson (RES) courses for aspiring salespersons, and also conducts Continuous Professional Development (CPD) training sessions for current practitioners, contributing to the growth and professionalism of the industry.