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Couple caught in 99-1 property transaction sue salesperson, PropNex and law firm for S$586,172

Couple caught in 99-1 property transaction sue salesperson, PropNex and law firm for S$586,172

By Kim Browne

Culture

This is the third reported lawsuit embroiling PropNex over the sale arrangement for buyers to avoid paying more in ABSD

A PropNex subsidiary has been sued, along with its salesperson and a law firm, over a so-called “99-1” property transaction, by a couple who allege a breach of duty by the three parties.

The couple are claiming a sum of S$586,172, the amount in additional tax and surcharge that the taxman had asked them to pay, for having avoided paying the relevant stamp duty for their purchase of a condo unit.

Neo Say Chuan, 47, and his wife Tiong Bock Lian, 43, are represented by WongPartnership’s Gavin Neo. They have named PropNex Realty, salesperson Don Tay and Anthony Law Corporation as defendants in the lawsuit.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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Couple caught in 99-1 property transaction sue salesperson, PropNex and law firm for S$586,172 | Grazia British