Buying Over Father's Share In Current Hdb Flat

[koshiru 0]

Hi,

My current flat (HDB 5 RM Executive via HDB 2nd loan) is purchased under my family nucleus with my father, mother and myself as Co-owner. I am intending to buy over my father's share as he is no longer living with us and not contributing to the flat other than the 1st time downpayment. Is this possible?

1. Can I apply for HDB loan with me and my mother's name assuming divorce is in the process?

2. If my purchase price for my flat was $400K including COV of $30K and now current valuation is at $550K, do I need to "purchase" my flat at $550K or can I just refinance my dad's portion?

[chronograph 0]

sorry to hear that.

I think it should be option 2, sell and buy again.

Hi,

My current flat (HDB 5 RM Executive via HDB 2nd loan) is purchased under my family nucleus with my father, mother and myself as Co-owner. I am intending to buy over my father's share as he is no longer living with us and not contributing to the flat other than the 1st time downpayment. Is this possible?

1. Can I apply for HDB loan with me and my mother's name assuming divorce is in the process?

2. If my purchase price for my flat was $400K including COV of $30K and now current valuation is at $550K, do I need to "purchase" my flat at $550K or can I just refinance my dad's portion?

[brobear 0]

sorry to hear that.

I think it should be option 2, sell and buy again.

Yes sell and buy again. This is what happened to my friend case also

[natural9 0]

Hi,

Maybe there's another logical way to this in your situation. That is if you yourself can do it.

Are you in good terms with your father? U mean he JUST pay the downpayment only? no monthly instalments from him??

If he still care for you, talk to him, put your name in take his out, u continue the hdb loan.

Or buy his share at discounted below valuation price, being the difference as a "I am sorry" gift to u.

Take a bigger loan in this case, will surely increase your burden in future.

Sorry for me saying this way, cos I don't know how to put it in another.

[koshiru 0]

Yes sell and buy again. This is what happened to my friend case also

Thanks for the reply, did you friend's parent go through a divorce?

[koshiru 0]

Hi,

Maybe there's another logical way to this in your situation. That is if you yourself can do it.

Are you in good terms with your father? U mean he JUST pay the downpayment only? no monthly instalments from him??

If he still care for you, talk to him, put your name in take his out, u continue the hdb loan.

Or buy his share at discounted below valuation price, being the difference as a "I am sorry" gift to u.

Take a bigger loan in this case, will surely increase your burden in future.

Sorry for me saying this way, cos I don't know how to put it in another.

Thanks, no worries about saying out the logical truth. Things like that happen but we will need to face it with strength regardless.

Yes, he only paid for the first downpayment for the flat and a couple of months' contribution and when he reached 55, he stopped contributing and took out his CPF monies.

Not on talking terms anymore, will just leave everything to the court to decide.

But I just want to know if any of your have friends undergoing divorce and the court actually judge in favour of the mother's side? I know about the women's charter is very strong in Singapore.

[kalimantan 6]

Thanks, no worries about saying out the logical truth. Things like that happen but we will need to face it with strength regardless.

Yes, he only paid for the first downpayment for the flat and a couple of months' contribution and when he reached 55, he stopped contributing and took out his CPF monies.

Not on talking terms anymore, will just leave everything to the court to decide.

But I just want to know if any of your have friends undergoing divorce and the court actually judge in favour of the mother's side? I know about the women's charter is very strong in Singapore.

woman's charter = means equal for men and women. When men work, and women housewives, men has to pay to maintain wives, but men do not look at it that way, therefore it is always "perceived" that men is disadvantage. During marriage, housewives keep home neat and tidy and take care of children, cook meals, etc. Housewives also work 8 hours per day ...but in terms of young children - usually the mother has the custody, but usually a joint custody (you cannot say father cannot see children).

Moving to your situation (as you are grown up), even divorce proceed, your father still has the SHARE ENTITLEMENT of the flat. No matter what happen, he did paid up. You cannot touch his cpf money as it is meant for old age. Therefore for the house, he has the entitlement. The only thing the judge can offer is SELL. When sell, everyone will be at disadvantage without a shelter.

You have to buy over your dad's share. However your dad will not be stupid as he will say "where do i live afterwards ..." ..therefore he is unlikely to sell even if court rule in favour for your mum. Remember the judge only interested to "move on" the divorce - and close case (whole singapore so many cases, your case is not a death or alive situation).

I tell you in the end who will win : it is the LAW will win ...LAW stands for LAWYER ALWAYS WIN ...you pay first the fees (lawyer won't pity you and just make money), then judge decide. You have to take whatever decision it is given. Alternatively , i would suggest you plan something practical if there is really a break-off of relationship.

Eg buy a condo for yourself / mum.

[bepgof 20]

Main concern is his CPF contribution towards house, if any.

When his name out, "his share" has to be returned to his acct accordingly with accrued interest.

If he care less this amount and no intent to get another HDB....then everything remains as it is.

Some deciding factors, for just in case:

Qs

-Are u able to absorb/pay this amount whether cpf, cash or combo both?

-He wants his share back? If so, what conditions he asked?

Quite headache.....my sil div, court order given, hdb still "ting ting tong tong".

[Plastic3 0]

Hi,

My current flat (HDB 5 RM Executive via HDB 2nd loan) is purchased under my family nucleus with my father, mother and myself as Co-owner. I am intending to buy over my father's share as he is no longer living with us and not contributing to the flat other than the 1st time downpayment. Is this possible?

1. Can I apply for HDB loan with me and my mother's name assuming divorce is in the process?

2. If my purchase price for my flat was $400K including COV of $30K and now current valuation is at $550K, do I need to "purchase" my flat at $550K or can I just refinance my dad's portion?

I understand how you feel, I'm in a similar situation...although mine have not reached your stage yet.

This is a very tricky situation, when you go to court try to prove his absence and non contribution to the family & flat.

I have checked with a legal advisor, if able to prove his deliberate abandonment of the family it is possible to be awarded his CPF contribution to the flat (may not even need to buy over).

I have also personally handled a case, where the Wife was awarded the CPF contribution of the ex-husband to the flat purchase.

(according to the court order $XX,XXX is to be transferred to the Wife after the sale of their flat which was under joint-tenancy, husband got nothing)

So it all depends on the details of your case.

Best,

Mark

[koshiru 0]

Main concern is his CPF contribution towards house, if any.

When his name out, "his share" has to be returned to his acct accordingly with accrued interest.

If he care less this amount and no intent to get another HDB....then everything remains as it is.

Some deciding factors, for just in case:

Qs

-Are u able to absorb/pay this amount whether cpf, cash or combo both?

-He wants his share back? If so, what conditions he asked?

Quite headache.....my sil div, court order given, hdb still "ting ting tong tong".

Would you care to share details about what the "ting ting tong tong" is all about? Also how did the court order the split of the assets?