Asked by Anonymous
What happens to the owners of EC if one of them pass on.eg.husband/wife?
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1 Answer
Evening,
New EC which have being purchased directly from HDB are normally under joint tenancy. Hence the surviving party will automatically inherit their co-owner's share. If it's a resale EC, it would depend on the nature of ownership: joint tenancy or tenancy-in-common. For tenancy-in-common, the surviving party will not necessary inherit the co-owner's share, if there's a Will. And if there's no Will, the surviving party will need to obtain a probate to take over the co-owner's share.
FYI
Mike Lim
96929209
m52i@yahoo.com
ERA Read More
New EC which have being purchased directly from HDB are normally under joint tenancy. Hence the surviving party will automatically inherit their co-owner's share. If it's a resale EC, it would depend on the nature of ownership: joint tenancy or tenancy-in-common. For tenancy-in-common, the surviving party will not necessary inherit the co-owner's share, if there's a Will. And if there's no Will, the surviving party will need to obtain a probate to take over the co-owner's share.
FYI
Mike Lim
96929209
m52i@yahoo.com
ERA Read More