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I am now 38 years old. From 2002 I bought this 4 room HDB flat under me and my father names. From 2002 till now, HDB loan deduct from my CPF. I a now staying with my parents, siblings, my wife n daughter. If I sell my house, will the remaing profit goes to me? I have my BTO 3 room by 2015. 1st instalment already paid. By the law, Will I need to share it with my parents and siblings? Can my siblings engage a laywer to do it? Please advise.
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1 Answer

Afternoon Sun,

You have purchased the current unit with your dad which is likely to be joint tenancy. Upon selling your unit, your CPF utilized plus the interest will be returned to your CPF account. After deducting outstanding loan and any arrears, tHe balance will be your cash profit. However, this cash profit will be split between your father and you.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
CEA Reg no: R026708F
Email add: m52i@yahoo.com
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