FAQs

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KALSIS will cover all legal fees and stamp duties for the transaction documents signed between KALSIS and you, as well as the valuation fee, stamp duty and registration fee in relation to the transfer of the home. Beyond these, in signing up the scheme, you will be responsible for the following expenses:

  • Real Property Gains Tax (if any) chargeable by the Inland Revenue for the sale of the home by you;

  • utilities related to your use and enjoyment of the home, such as your telephone bills, water bills, broadband bills, electricity bills (in the form of reimbursement to KALSIS) and maintenance fees (if any);

  • taxes related to the home, such as assessment, quit rent and sewerage charges;

  • any cost for maintaining the home except for the cost of complementary services agreed to be provided by KALSIS;

  • fees chargeable by commissioner of oath if you sign the transaction documents in their presence; and

  • fees for advisers, solicitors or valuers independently engaged by you to advise you on the scheme.

Additionally, please note that you are responsible for refunding any annuities that may be overpaid by KALSIS.

You will sell your home to KALSIS at the agreed price and enter into a License Agreement with KALSIS for KALSIS to grant you the right to continue residing in the home until death, despite the transfer of the home to KALSIS. Under the Licence Agreement, you will be required (amongst other obligations) to –

a. maintain, upkeep and repair the home (other than for any complimentary services covered by KALSIS);
b. inform KALSIS of all persons staying in the home on long-term basis and notify KALSIS of any changes;
c. grant KALSIS access to inspect the home and to meet with officers of KALSIS at least once every year;
d. agree to the installation of photovoltaic panels in the home at KALSIS’ costs;
e. grant KALSIS access to render all relevant complimentary services;
f. pay all your utilities bills, such as telephone bills, water bills, broadband bills, electricity bills (in the form of reimbursement to KALSIS) and maintenance fees (if any);
g. inform KALSIS of any notice, order or summon given by any governmental or local authority in connection with the home.

Provided that your spouse is one of the participants to the scheme, the scheme shall continue until his or her passing. If the spouse is not a participant, the spouse will be required to leave the home and the home will be sold. To the extent a person is nominated by the participant to receive any apportioned proceeds in accordance with the terms of the scheme documents, KALSIS will pay such apportioned proceeds (to the extent it is obliged to do so). 

As the home has been sold to KALSIS, it is no longer included as part of a person’s assets to be distributed to their next-of-kin upon their passing.

This feature is not available as it would reverse the scheme’s objectives of enhancing the financial resilience of seniors via monthly lifetime annuities for their living expenses – without having to move.

KALSIS will continue to be liable to pay annuities to the participant of the scheme whether the participant is married or divorced. If the husband or wife of the participant is a secondary participant to the scheme, the divorce will not affect his/her status as secondary participant and KALSIS will continue to pay annuities to the principal participant until he or she dies and then will pay annuities to the secondary participant named in the scheme even if he or she has divorced the principal participant. However, in this instance for the scheme to continue (i.e. for KALSIS to continue paying the annuities to the secondary participant), the secondary participant has to stay in the home after the death of the principal participant.

If your spouse is named as the secondary participant to the scheme (you being the principal participant), his or her earlier death will not affect your entitlement under the scheme. If you should remarry, your new spouse may stay with you in the home, but the new spouse will not constitute a secondary participant to the scheme and will not be entitled to payment of annuities after your death.

No. The home cannot be rented out or left vacant.

As individual circumstances and needs differ at various stages of a person’s life, please consult with KALSIS at the appropriate time to ensure you are well supported. 

This will likely trigger a termination of the scheme as the effect of the participants no longer occupying the home is like as if they have passed on. 

You may do so with the prior written consent of KALSIS and subject to such terms and conditions as may then be imposed by KALSIS.

Excluded Postcodes

  • 41100
  • 42100
  • 42000
  • 45800
  • 45600
  • 42500
  • 42600
  • 45000
  • 42700
  • 43950
  • 42200
  • 41300
  • 41050