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I am intending to sell off my HDB, which is current co-joint with my father. For over 5 years, I have been the only one servicing the monthly loans thus, the reason why I have decided to sell the HDB. Any advise on how I can allocate the cash proceeds as I wish? As I do not wish the cash proceeds to be given 50-50 as I think it's unjust. Other party is willing. Please advise.
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1 Answer

Mike Lim
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Afternoon,

Upon the sales of your unit, the CPF that you have contributed including interest will be returned to your CPF account. The remaining cash proceed, after deduction of outstanding loan, will be issued under both names. Hence, a joint name account is required. After the cheque is cleared, it's up to your dad and you to decide on the actual split.

Do feel free to contact me if you require further assistance.

Regards
Mike Lim
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