Over 93 percent of Wang Fuk Court owners sign sale agreements before deadline

More than 93 percent of property owners across all eight residential blocks at Wang Fuk Court in Tai Po have completed the execution of sale and purchase agreements to sell their subsidized flats to the government, the Housing Bureau announced on Friday.

According to a bureau spokesman, the formal deadline for executing the Agreement for Sale and Purchase expired yesterday. 

By the close of the deadline, 1,850 owners from Blocks A through H had executed the documents, representing 93.2 percent of the total residential units in the development.

The bureau acknowledged that several owners were unable to execute the agreements prior to the deadline due to special circumstances that required additional processing time. 

These situations included clarifying legal titles, managing ongoing probate or bankruptcy proceedings, resolving ownership disputes, accommodating mentally incapacitated persons, or addressing cases where owners are currently overseas.

Officials noted that comparable legal and title complications frequently arise in private-market property transactions. 

In response, authorities stated that the government will consider making appropriate arrangements on an individual basis at its discretion, emphasizing a balanced approach grounded in reason, law, and empathy, with priority given to empathy.

Following the passing of the execution deadline, government departments are proceeding with assignment procedures at full speed to complete the official transfer of property titles for all signed units.

The buyout represents a major milestone in the government's long-term housing arrangements for the Tai Po estate, with relevant departments continuing to provide dedicated support to affected households navigating the remaining legal and conveyance formalities.

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