Asked by Edwin Chong
Hi currently I'm holding a joint tenancy with my mother and brother.
Mother age is 63 and brother is 41.
Our HDB flat is fully paid with no outstanding loan attached.
Here come the problem.
I will be getting my new BTO flat soon.
I understand that i would need to have my name taken out from the existing flat either before or within 6 month when i collect my keys.
And the remaining partly would have to top up the CPF amount plus the accrued interest I have used in order to have my name taken out right?
But what if my brother CPF does not have that much CPF amount to top up?
What can be done?
If based only on the CPF amount needed for the top up only which the shortage is about 15k. (Not sure if there is anymore hidden amount or rules that might add up to it.)
Also, I'm not looking at the selling the house away as they might have difficulty in purchasing another one.
Mother age is 63 and brother is 41.
Our HDB flat is fully paid with no outstanding loan attached.
Here come the problem.
I will be getting my new BTO flat soon.
I understand that i would need to have my name taken out from the existing flat either before or within 6 month when i collect my keys.
And the remaining partly would have to top up the CPF amount plus the accrued interest I have used in order to have my name taken out right?
But what if my brother CPF does not have that much CPF amount to top up?
What can be done?
If based only on the CPF amount needed for the top up only which the shortage is about 15k. (Not sure if there is anymore hidden amount or rules that might add up to it.)
Also, I'm not looking at the selling the house away as they might have difficulty in purchasing another one.
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Let say if i will to top up the balance amount in cash than all this with cash. Does it mean it can all be settle?