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Quoted from https://singaporelegaladvice.com/law-articles/mortgage-debts-bills-responsible-after-death/

"If the deceased sole owner had used his CPF account savings to pay the monthly bank loan instalments of his or her HDB flat, he/she would have been insured under the Home Protection Scheme (HPS).

Under the HPS, if the mortgagor passes away, the CPF Board will settle the outstanding housing loan up to the insured sum, with HDB or the bank which provided the housing loan, directly.

The HPS is compulsory for all individuals who use their savings from their CPF account to pay for their HDB flat."

You can read up more about the various scenarios at the link too. Read More

Hi, appreciate your sharing. Next of kin able to apply on behalf for the sale of the unit and share the sale proceed.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi,

I believe he should have been insured under Home Protection Scheme or private mortgage life insurance? When the owner passes on, the insurance payout will happen to cover the mortgage up till the insured sum. The NOK or administrator would have to link up with cpf board, bank and insurer to inform them about this event and for them to follow up the necessary.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

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Hi Sir/Mdm,

As part of the bank loan, the owner will need to take up an insurance against the mortgage so that in case the owner passed on, the balance mortgage payment would be taken care off by the insurance.

You may want to notify the insurer and send them the death certificate for the insurer to process the payout.

Please contact me privately if you need any further assistance.

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Judy Rong (Seller) Dec 2023 Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, the deceased would probably have an insurance with regards to the mortgage and so you may just make a trip to the bank and to find out more.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Good day to you,

With the context provided, if a buyer were to purchase an HDB unit via a Bank loan, CPF may or may not be utilized. Under a direct case, the Home Protection Scheme would kick in, to cover the outstanding, should the owner deceased, if CPF has been utilized. However, the NOK of the deceased needs to obtain the Letter of Administration before moving forward.

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ERA Read More

1. **CPF Savings & HPS**:
- If the deceased used CPF savings to pay the HDB mortgage, they were insured under the Home Protection Scheme (HPS).

2. **HPS Coverage**:
- **Settlement**: HPS will pay off the outstanding loan up to the insured amount.

3. **Direct Payment**:
- **Settlement Process**: CPF Board pays the remaining loan directly to HDB or the bank.

4. **Compulsory Insurance**:
- **Requirement**: HPS is mandatory for those using CPF savings to pay for their HDB flat.
5.Transfer of Ownership:
Estate Handling: The ownership of the flat will need to be transferred as part of the deceased’s estate. This usually involves:
Probate or Letters of Administration: Applying for probate (if there’s a will) or letters of administration (if there isn’t) to manage the deceased’s estate.
6.HDB Transfer: The flat must be transferred to an eligible family member or beneficiary who will take over the ownership and responsibilities.
7.HDB Rules:
HDB Involvement: HDB must be informed of the owner’s passing. They will guide the family or estate executor on the necessary steps for transferring ownership or addressing the mortgage.
7.Responsibility for Loan:
No Automatic Transfer: The responsibility for the loan does not automatically transfer to someone else. The new owner or the estate must manage or settle the loan.
Recommendation: Consult with a lawyer and the bank to understand the specific steps for handling the estate and managing the outstanding mortgage.
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