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Hi Guru,

I am inquire about the sale proceeds from an Inherited HDB unit sold under my husband name. Specifically, I would like to know if my husband can choose to deposit the sale proceeds into our joint account.

Your guidance on this matter would greatly be appreciated. Thank you!
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5 Answers

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes that is possible.

Regards
Aaron Chong
 9730 8455 
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Hi Li Ping,

Is your husband the sole beneficiary? Typically, proceeds will be managed by the administrator or executor. If there are other beneficiaries involved, there should be some extent of discussion on how the proceeds can be managed, or you can direct this to the estate lawyer for clarifications. Read More
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Hi, appreciate your sharing. It depend on the court order to decide.
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Cheers
Stewart-PropNex (Senior Associate Division Director) Read More
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Will or Letter of Administration: If there was a will or Letter of Administration (LOA) stating how the proceeds should be distributed, your husband would need to follow those instructions.
Outstanding Debts: If the deceased had any outstanding debts tied to the property (e.g., mortgage, loans), these would need to be settled from the sale proceeds before the remaining amount can be used freely.
Family Disputes: In case of any potential disputes among family members regarding the inheritance, it's advisable to consult a lawyer for legal guidance on the proper distribution of assets.

>>For further clarification and guidance on specific details, you may consult HDB directly or seek legal advice.
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Hi Li Ping,

Typically the sale cash proceeds will be issued in a cashier order addressed to the estate of the late person, ie. The Estate of Mr. Tan Ah Beng , and a estate bank account needs to be created by the Executor so to receive this amount of funds.

Is your husband also the executor or administrator of the estate?

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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