Lease Buyback Scheme definition

Lease Buyback Scheme means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money —
Lease Buyback Scheme means a scheme by that name administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money part of which is to be used for the payment of the premium for an annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K;”; and
Lease Buyback Scheme means a scheme administered by the Board, under which a lessee of an HDB flat who has been approved by the Board to take part in the scheme enters into an agreement with the Board to reduce the term of the lease, in consideration of a sum of money —

Examples of Lease Buyback Scheme in a sentence

  • Some could also choose to realise the value of the property they own, through renting it out, or making use of the enhanced Lease Buyback Scheme or the Silver Housing Bonus.

  • As these owners reach old age, they can opt to unlock the housing equity of their flats under the Lease Buyback Scheme.

  • They can consider renting out their flat or spare bedrooms, right-sizing to a 3-room or smaller flat and applying for the Silver Housing Bonus, or selling the tail-end of their lease to HDB under the Lease Buyback Scheme.

  • The Lease Buyback Scheme (LBS), implemented in March 2009, provided low-income elderly Singaporeans the option to unlock the value of their flats and receive a life-long monthly income for retirement needs.

  • In March 2009, the HBD launched its Lease Buyback Scheme (LBS) enabling owners of homes with three or less rooms to sell some of the remaining yearsof their lease to the HBD in return for a lifelong supplement to their income.

  • As a significant number of older persons in Singapore are deemed to be “asset rich” but “cash poor”, steps have been taken to monetize the assets of older persons, for example by helping them to downgrade to smaller flats, through the Silver Housing Bonus, or to sublet their flats, under the Lease Buyback Scheme (see para.

  • They can consider renting out their flat or spare bedrooms, right-sizing to another flat, or selling the tail-end of their lease to HDB under the Lease Buyback Scheme.

  • For HDB homeowners, you may want to find out more about the HDB Lease Buyback Scheme here.

  • We will do more to help Singaporeans tap their housing assets for retirement by enhancing the Silver Housing Bonus and the Lease Buyback Scheme.

  • In their old age, elderly Singaporeans can then opt to unlock the housing equity of their HDB flats under the Lease Buyback Scheme (LBS), while aging in place.


More Definitions of Lease Buyback Scheme

Lease Buyback Scheme means a scheme administered by the HDB, under which a lessee of an HDB flat who has been approved by the HDB to take part in the scheme enters into an agreement with the HDB to reduce the term of the lease, in consideration of a sum of money —
Lease Buyback Scheme means a scheme administered by the Housing and Development Board, under which a lessee of an
Lease Buyback Scheme means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to
Lease Buyback Scheme means a scheme by that name administered by the Housing and Development Board, under which a lessee of

Related to Lease Buyback Scheme

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  • Sale and Lease-Back Transaction means any arrangement providing for the leasing by the Borrower or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Borrower or such Restricted Subsidiary to a third Person in contemplation of such leasing.

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