Asked by
What's the HDB policy with regards to apportioning of sales proceed between home owners? I co-own a HDB flat with my mum, we will be selling it away in few months' time. Would like to find out how does HDB apportion the sales proceeds? Is it split equally half-half? Thanks in advance.
0
3410 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Evening Mr. Allan,

Based on the manner of holding, the HDB will issue the cheque accordingly. For joint tenancy, HDB will issue cheque based on both owners name. For tenancy-in-common, HDB will issue cheque based on individual share on the unit.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
  • AD
    Hi, thanks for your sharing. Just wondering which option best protect owners' interest? Or which option does most owners prefer?
Hi Allan,

As what Mike has shared, it will be good to check on what is the manner of holding for your current HDB co-owned with your mum. If you are holding it in joint tenancy manner, the split has to be decided between the 2 of you as the cheque will be issued under 2 of your names where you will need to have a joint bank account to deposit this cheque (sales proceeds). If it is held under tenancy in common, the percentage shares own should be reflected and HDB will issue out separate cheques accordingly. Can I assist further especially with the sale of your property?

Visit and Like my facebook page at https://www.facebook.com/propertyblogshop

Regards,

Geryl LIM
Real Estate Director
Masters Of Real Estate
M.O.R.E Property Pte Ltd (L3010548F)
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com

M.O.R.E Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ "Landed 7772" in Mobile Apps Store or Play Store now!

Thanks to all those who have attended our vastly successful even on 2nd and 3rd August 2014, M.O.R.E Landed Dynamic Alliance Landed Homes Sales Exhibition! Register your interest with me today if you are looking to attend our next edition of the Landed Homes Sales Exhibition. Read More
1
  • AD
    Hi, thanks for your sharing. Just wondering which option best protect owners' interest? Or which option does most owners prefer?

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions