Hi,
1) It seems like your case is quite complicated. Not sure what was the reason that you cannot use any more of your CPF money to pay the outstanding loan.
2) One of the reasons I could think might be due to the remaining lease of the flat that you are not allowed to fully utilized your CPF.
3) If this is the case, means that your spouse is going to face the same situation after your transfer. I'm worried he might have difficulties continuing to servicing the loan without your assistance.
4) Come back to your agreement, I assume you are holding the flat under Joint tenancy, meaning 50-50.
5) To be fair, before the transfer, both have the equal responsibility to service the mortgage.
6) I see you mention you are still using your CPF and accrued interest. My suggestion is the accrued interest incurred during this period, June to Oct, 4 mths. The accrued interest is minimal for the amount utilized during this short period.
I would suggest just consider the CPF amount to ease everyone's pressure.
7) It is fair that he pay you back in cash for the CPF that withdrew from your account. If there is a cash portion involved in the monthly mortgage, of course, he should pay the cash as well. This is without a doubt.
8) If he already faced difficulties paying in cash now, the situation will be worse after the transfer. If this is the case, I would suggest selling off the flat, because it became a burden and cannot be resolve by continuing to hold it.
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
Note:
Any response to our answer does not reach us.
The best way to get a follow-up is to Whatsapp or email us directly.
Read More
