Enter your email below
Abeyance is a banking and legal terms which describes the act of suspending title to property before the real legal owner of a property can be clearly established.
This can be a critical process for a bank as they don’t want to finance a house and only have a claimant to the property turn up years later.
The legal team would also be of interest as they are hired by buyer and seller to close a real estate transaction properly. A cloud on title that is left undiscovered can badly damage their credibility in the industry.
When a process is in the stages of completion such as closing in real estate, the term abeyance can be used to refer to a hold on the process until certain issues are rectified.
This can be sometimes observed when HDB steps in to ensure proper transfer of property is done as per procedure.
for the last 36 months?
Enter your email below so we can send it to you.