Asked by Anonymous
Hi, I need advice on a divorce case.
Wife at 65yo, Husband at 66yo). Currently, they are staying in resale 5rm HDB flat under Joint Tenancy, fulfilled MOP and paid in full using their OA ($160k each respectively) + cash (for COV portion)
Wife is in a dilemma between change in flat ownership (not through a sale) or a resale of part-share.
Few questions to seek advice on:
1) How will the the value of the flat be determine in order for wife to know how much to pay back to ex-husband ?
2) Does wife need to return the $160k (previously taken from respective OA for the 5rm HDB purchase) to ex-husband or CPF ?
2) Assuming they both agreed on 50/50, can the 50% that wife need to pay back ex-husband be fully deducted from her OA or RA to be returned to ex-husband ?
3) Does she need to return any money to CPF or HDB ?
4) If it is change in flat ownership (from Joint Tenancy to Sole ownership), can she still sell the flat after the divorce proceedings are finalised ? Any guidelines or MOP that needs to be fulfilled ?
Wife at 65yo, Husband at 66yo). Currently, they are staying in resale 5rm HDB flat under Joint Tenancy, fulfilled MOP and paid in full using their OA ($160k each respectively) + cash (for COV portion)
Wife is in a dilemma between change in flat ownership (not through a sale) or a resale of part-share.
Few questions to seek advice on:
1) How will the the value of the flat be determine in order for wife to know how much to pay back to ex-husband ?
2) Does wife need to return the $160k (previously taken from respective OA for the 5rm HDB purchase) to ex-husband or CPF ?
2) Assuming they both agreed on 50/50, can the 50% that wife need to pay back ex-husband be fully deducted from her OA or RA to be returned to ex-husband ?
3) Does she need to return any money to CPF or HDB ?
4) If it is change in flat ownership (from Joint Tenancy to Sole ownership), can she still sell the flat after the divorce proceedings are finalised ? Any guidelines or MOP that needs to be fulfilled ?
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