Good evening,
In this case you will have to find a way to transfer out your name and the remaining owners (your in-laws) must be able to buy over your share financially and refund the CPF you have utilized + accrued interest. You may wish to consult the HDB branch on the transfer of ownership details.
Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.
Warm Regards,
Ivan Ng Realtor
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This is indeed a tricky situation. And its unfair that you helped them to tide over the financial situation back then, but they do not reciprocate your efforts when you have your own difficulties now. In this case one compromise solution that I can think of could be to check with the hdb officer whether any 2-room flexi studios with short lease are available, and help them to right-size to a smaller flat in a similar location in yishun. This way at least may be able to address their concern to at least have a place to stay while you can sell off the current place and keep your AMK unit. Hope that helps.
From my understanding after the few appts made to HDB and basis on the calculation, they are not able to repay the CPF + Accrued interest to me. Their initial basis on putting my name in was due to them being unable to make payment to HDB for their instalments.
What I am upset about is the fact that despite not providing any legal documents showing proof of divorce proceedings, HDB had given them the benefit of taking only their words.
Given the circumstances of them being able to neither repay my CPF + Accrued interest nor sustain the flat with their income, I see the only way to go about it to sell the unit. And given that HDB is aware of my having my name in 2 properties and I cannot do anything if the first owners are unwilling to sell, my intention is to protect my interest and indemnify me from any legal actions that HDB will make since I had already informed of my willingness to sell the Yishun unit where it has no longer been my home since 2019. At this present moment, I can only see that only HDB can do something to compel the first owners to sell the flat because compulsory acquisition will result in me at risk of losing my CPF + accrued interest that I had made for that unit.
Should I seek legal advice/ prepare a formal letter stating that I am the only willing party to sell the unit?