4 Answers

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Robbie Chen Chee Howe
Hi Sir,

Yes, the cash proceeds will be in form of cheque of all owners if the flat is purchased under Joint-Tenancy. It does not matter who paid for the flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
1
Joint Cheque for Joint Tenants:

If you and your wife are listed as joint tenants on the HDB flat ownership, the sales proceeds will likely be issued in a joint cheque by HDB, regardless of who contributed financially.
This means both your names will be on the cheque, and it can only be deposited into a joint bank account you both hold.
Reasoning Behind Joint Cheque:

HDB aims to ensure transparency and requires agreement from all owners when dealing with the sales proceeds.
This prevents any potential disputes or issues where one owner might try to access the funds without the other's knowledge.
Alternatives (if needed):

If you cannot or don't want to open a joint account, you can engage a private lawyer to handle the conveyancing process instead of using the HDB lawyer. This might incur additional costs, but the lawyer can potentially arrange separate cheques for each owner based on a pre-determined agreement.
Important Note:

The fact that you used your CPF and cash for the purchase doesn't affect the ownership structure as long as you're both listed as joint tenants.
Recommendation:

It's wise to discuss this with your wife and reach a clear agreement on how you'd like to handle the sales proceeds before finalizing the sale. Consider opening a joint account specifically for this purpose if needed.

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT :)

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More
1
Joint Cheque for Joint Tenants:

If you and your wife are listed as joint tenants on the HDB flat ownership, the sales proceeds will likely be issued in a joint cheque by HDB, regardless of who contributed financially.
This means both your names will be on the cheque, and it can only be deposited into a joint bank account you both hold.
Reasoning Behind Joint Cheque:

HDB aims to ensure transparency and requires agreement from all owners when dealing with the sales proceeds.
This prevents any potential disputes or issues where one owner might try to access the funds without the other's knowledge.
Alternatives (if needed):

If you cannot or don't want to open a joint account, you can engage a private lawyer to handle the conveyancing process instead of using the HDB lawyer. This might incur additional costs, but the lawyer can potentially arrange separate cheques for each owner based on a pre-determined agreement.
Important Note:

The fact that you used your CPF and cash for the purchase doesn't affect the ownership structure as long as you're both listed as joint tenants.
Recommendation:

It's wise to discuss this with your wife and reach a clear agreement on how you'd like to handle the sales proceeds before finalizing the sale. Consider opening a joint account specifically for this purpose if needed.

I am Sorry that This platform does not allow me to direct contact you.

To further assist you, please feel free to contact me via WhatsApp at 9856 9255  or through this link: https://wa.me/6598569255.

My services come with no obligations, and I'm here to help with any questions or assistance you need.

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

You can reach me at my Singapore mobile: +65 9856 9255  or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT :)

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The END XXXXXXX Read More
1