Asked by Anonymous
Have a qs with inheritance of hdb from parents. Assuming both parents have passed away with only two children, the ownership of the hdb (fully paid up with no outstanding loans) will be split 50/50 between the 2 children.
My brother currently has his own hdb while I do not own a hdb, I would like to take over his 50% share of the house. At this point of inheritance, the hdb is left with 40 years lease and my age is 47 years old, market value of the hdb is $500k (based on valuer), I agree to payout $250k to him.
What will be my settlement option? Do I have to pay full cash of $250k or can i do the payout using my cpf amount + bank loan (subject to prorate on the remaining lease)?
Will my brother receive the full payout in cash if I use the cpf amount + bank loan option or will it be credited into his cpf according with the remaining in cash?
For my own 50% inheritance of the house, will there be any stamp duties and can I use any hdb grants as first timer to offset the costs?
Thanks
My brother currently has his own hdb while I do not own a hdb, I would like to take over his 50% share of the house. At this point of inheritance, the hdb is left with 40 years lease and my age is 47 years old, market value of the hdb is $500k (based on valuer), I agree to payout $250k to him.
What will be my settlement option? Do I have to pay full cash of $250k or can i do the payout using my cpf amount + bank loan (subject to prorate on the remaining lease)?
Will my brother receive the full payout in cash if I use the cpf amount + bank loan option or will it be credited into his cpf according with the remaining in cash?
For my own 50% inheritance of the house, will there be any stamp duties and can I use any hdb grants as first timer to offset the costs?
Thanks
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