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Under a joint tenancy ownership for HDB, can one of the owners will their share of the proceeds of the flat (when the other owner decides to sell) to another family member below 35 when he or she passes on?
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4 Answers

Hi Speed Bird,

Under joint tenancy, the co-owners together own the whole interest in the flat. In joint tenancy, the right of survivorship applies. This means that upon the demise of any joint owner, his/her interest in the flat would automatically be passed on to the remaining co-owners.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Sir/Mdm,

For joint tenancy, it is subjected to right of survivorship and therefore the co owners cannot will their share to another party. If you wish to will your share, you may want to consider changing the type of ownership from Joint Tenancy to Tenancy in Common.

Please feel free to contact me so that I can understand your concerns and assist you further!

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Hi Speed Bird,

I doubt you are able to do so, but why not check with a law firm directly?

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

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Geryl Lim
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Hi Speed Bird,

1) Under Joint-Tenancy ownership, it is the survivor who takes all situations.
2) If there is any owner passed on during the holding period, his share will be equally distributed to the other surviving owners.
3) In order to set up a will to manage his share when he passed on, all owners must agree to change the current holding method to Tenancy-In-Common (TIC).
4) Each owner's share amount will be clearly stated accordingly under TIC.
5) So every owner can decide how they want their shares to be distributed when they passed on using a will.
6) If there is no will, their shares will be distributed using the intestate succession act.
7) The other surviving owners will not automatically take over the deceased shares as in the Joint-Tenancy mode.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer 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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