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My friend who is an Indian PR is planning for a divorce and he's holding a 4-room hdb flat with only 2 years out of 5 years MOP period spend in that flat.
What will happens after the divorce. Do he need to enclose this divorce information to hdb. Can he stay in the flat for the remaining 3 years of MOP and after that sell the house in open market.
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2 Answers

Mike Lim
Replied
Evening,

Single SPR are not eligible to own HDB unit. Hence upon final court order, your friend will likely have to surrender the unit back to HDB and pay the SSD to IRAS.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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  • MG
    Replied
    Thanks for your response. Since the property market is down i suppose the market value of the HDB unit will be lower than the time he purchased two years before. In this case my friend will be in total disadvantage as he have to pay 8% SSD in addition to the lower return on the unit sale. Also to take note is that he got 80% loan from the bank which can't be repaid if the HDB unit sale price is lower than the price he paid two yrs before. Does this mean he need to pay out of his pocket to the bank?
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