Can I buy the flat back?

[SunShine07]

Hi would like to seek some advice.

If we divorce, can i buy back the flat? My husband is a Singapore PR.

We bought a 3rm flat in Aug 2005 using gov grant $30,000 and also parent grant $10,000.

Currently, i am using my CPF to pay for the flat ($300/month) i wonder if i can buy it back if we divorce and do i need to pay any cash or can just use CPF?

how pocess go about?

 

[tika]

Hi would like to seek some advice.

If we divorce, can i buy back the flat? My husband is a Singapore PR.

We bought a 3rm flat in Aug 2005 using gov grant $30,000 and also parent grant $10,000.

Currently, i am using my CPF to pay for the flat ($300/month) i wonder if i can buy it back if we divorce and do i need to pay any cash or can just use CPF?

how pocess go about?

It all depends on whether your hubby forked out any cash for the flat in the first place or not. If you want the flat under your name only and hubby did help pay monthly last time, then you must pay him back whatever amount he paid I think. If you want to cancel your name and move out, hubby must be agreeable to pay whatever amount you've paid previously. Also depends on who's the flat owner name, and who is co-owner only.


Something like that. Have you tried calling HDB to enquire? They will be the best ppl to advice you.

 

[stonston]

Depends on alot of things.

Is it joint-tenancy? I recall there's something like no matter what each one contributes, each will get 50-50. & there's another one that depends on how much you contribute to the flat.

If yours is the first one, you will need to 'buy' his share of the flat whether he paid anything or not.

If yours is the second one, you will need to pay him back for what he has paid for the flat (& he must be agreeable to the price as it is based on MARKET RATES).

If your CPF is enough, there shouldn't be any cash involved Call up HDB to do a check

 

[SunShine07]

oh, thanks.... as far as i know, i am the main owner. he contribute only when the flat is transacted, meaning the down payment....the monthly installment is paid by me CPF.

Actually what i concern is need to be approved or agreed by him, then thing would be difficult. Cos he is the revengeful type of person. If he know that he gain nothing in the end, he will try to get it from me

 

[stonston]

oh, thanks.... as far as i know, i am the main owner. he contribute only when the flat is transacted, meaning the down payment....the monthly installment is paid by me CPF.

Actually what i concern is need to be approved or agreed by him, then thing would be difficult. Cos he is the revengeful type of person. If he know that he gain nothing in the end, he will try to get it from me

If I recall correctly...

If you official divorce, HDB will give you some time to settle the house. Either you both sell away or you buy over his share. If you do not settle it within a certain time limit, HDB has the right to take back the flat.

Most impt is check if yours is the 50-50 split or the one tt is based on contribution. If it's based on contribution, it's easier for you to buy over his share since he only contributed at downpayment

 

[SunShine07]

If I recall correctly...

If you official divorce, HDB will give you some time to settle the house. Either you both sell away or you buy over his share. If you do not settle it within a certain time limit, HDB has the right to take back the flat.

Most impt is check if yours is the 50-50 split or the one that is based on contribution. If it's based on contribution, it's easier for you to buy over his share since he only contributed at downpayment

Oh i see....thanks so much:001_302:

 

[stonston]

I just checked with my friend who is going through divorce now.

Her HDB flat is under Joint-Tenancy (which is the one that is 50% share each, regardless of how much you contributed to the flat). So if she wants to buy his share over, she needs to pay him for 50% of the flat's market value now (need to get HDB to do valuation).

This is to her advantage as she only started to pay the loan for the flat recently when her 'hb' went missing. Downpayment and all were paid by the guy.

But I think she's not interested in keeping the flat, so if the guy wants, he got to buy over her share (means my friend will get lump sum of cash back).

 

[hope seow]

Hi would like to seek some advice.

If we divorce, can i buy back the flat? My husband is a Singapore PR.

We bought a 3rm flat in Aug 2005 using gov grant $30,000 and also parent grant $10,000.

Currently, i am using my CPF to pay for the flat ($300/month) i wonder if i can buy it back if we divorce and do i need to pay any cash or can just use CPF?

how pocess go about?

Hi, you have to live in your flat for 5 years before you can sell off cos you have took a grant during your purchase. I suppose you have not file for your divorce yet??

If you have not, can lay down your terms when you meet your lawyer.
It all depend on your husband whether he want you to sell off and split 50/50 or just allow you to refund him whatever he used to pay off this house from purchase to now.

i am agent, if you need help in enquiries pls feel free to call me at 92224323. Don't worry, i just truly want to help you through this difficult process.

 

[ping26]

sori, very very late reply.

you need to consult a lawyer.

My friend's family case :

court awards child custody to mum,
division of matrimonial assets (after considering contribution - paid mainly by husband 10yr, conservancy/upkeep of family by wife 10yr)

court awards 60-70% to wife even though flat is solely in husband's name.

A good lawyer can help you negotiate with your husband and get court to award more in your favour. They can make it sound win-win or "coerce" him. A third party may be able to negotiate better terms with him.

If u need a lawyer, I can go ask my friend to dig up the name.

take care,
Ping

 

[coke]

sori, very very late reply.

you need to consult a lawyer.

My friend's family case :

court awards child custody to mum,
division of matrimonial assets (after considering contribution - paid mainly by husband 10yr, conservancy/upkeep of family by wife 10yr)

court awards 60-70% to wife even though flat is solely in husband's name.

A good lawyer can help you negotiate with your husband and get court to award more in your favour. They can make it sound win-win or "coerce" him. A third party may be able to negotiate better terms with him.

If u need a lawyer, I can go ask my friend to dig up the name.

take care,
Ping

Hi Ping, may I have the lawyer number?
My email: lasagnagal@yahoo.com
Thank you.

 

[tulip_nel]

Hi Ping, may I have the lawyer name and number?
My email: tulip_nel@yahoo.com
Thank you.