Hi,
1) If you intend to set up a trust to insert this EC into it. Your EC must be fully paid in cash only and met MOP. Your child also must be an SC or SPR.
2) If you have utilized any CPF to fund this EC. All utilized CPF + accrued interest have to return to the CPF OA.
3) There is a teething issue when you submit your HDB application, are you going to include your child as occupier?
4) Remember that there is a clause under the HDB rule are all owners and occupiers are not owning any property (local and overseas), if they do, they will have to dispose of it within 6 months upon key collection.
5) So if never include the child as an occupier, means that you are providing false or inaccurate information to a govt staff. And this face penalty of monetary fine or jail or both.
6) Below is the exact wording used by the HDB:
CAUTION:
In the event that HDB discovers that any flat owner or any other person listed in the application has made any false declaration or provided any false information or suppressed any information relating to the application, HDB may take the necessary legal action against the flat owner or such other person.
In addition to other remedies, the Housing and Development Act (Chapter 129) provides that any person who makes any statement to HDB which is false, and which he either knows or believes to be false or does not believe to be true, shall be guilty of an offense and shall be liable on conviction to a fine not exceeding $5,000/- or to imprisonment for a term not exceeding 6 months or to both.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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