Adrianli Hypersonic November 21, 2011 Share November 21, 2011 (edited) My fren is facing a big dilemma. He is staying on a landed property near CBD, abt the size of half football field. The property is handed down from his parents who paid it thru their blood, sweat n tears. I estimate it worth S$10-15million??? He said 15yrs ago his neighbour sold theirs at S$9million. His property is a corner lot and the very first unit from the main road. He has no intention to sell but his siblings are bent on selling otherwise there will be a court case. He is in no position to buy over his siblings share as he definately could not come out with that sort of cash!!! He has been the only one staying on the property and taking care of it all these years. Parents already long gone. If it were u, will u sell??? Or fight a long court case??? Edited November 21, 2011 by Adrianli ↡ Advertisement Link to post Share on other sites More sharing options...
Mockngbrd Supersonic November 21, 2011 Share November 21, 2011 (edited) who owns majority? Edited November 21, 2011 by Mockngbrd Link to post Share on other sites More sharing options...
Mustank Hypersonic November 21, 2011 Share November 21, 2011 If your friend is not the major owner, hard not to sell Link to post Share on other sites More sharing options...
Fcw75 Hypersonic November 21, 2011 Share November 21, 2011 A typical case of 'when it comes to money, siblings also can forgo'. I think your fren has to sell. 1 Link to post Share on other sites More sharing options...
Jman888 Moderator November 21, 2011 Share November 21, 2011 base on the location mentioned, probably selling it would be best. what happen one day suay suay govt want to take back the land at discounted price, then LLST Link to post Share on other sites More sharing options...
Rs_mini Neutral Newbie November 21, 2011 Share November 21, 2011 Doesn't matter who owns the majority... even if the TS has 90%, the other siblings have 10% and they wish to sell, the TS HAS TOO either buy off the 10% at the market rate, or sell off the property at the market rate and divide the proceeds from the sale according to the percentage of ownership. Unless he can prove that the entire estate is his, he really has no other choice. Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged November 21, 2011 Share November 21, 2011 My fren is facing a big dilemma. He is staying on a landed property near CBD, abt the size of half football field. The property is handed down from his parents who paid it thru their blood, sweat n tears. I estimate it worth S$10-15million??? He said 15yrs ago his neighbour sold theirs at S$9million. His property is a corner lot and the very first unit from the main road. He has no intention to sell but his siblings are bent on selling otherwise there will be a court case. He is in no position to buy over his siblings share as he definately could not come out with that sort of cash!!! He has been the only one staying on the property and taking care of it all these years. Parents already long gone. If it were u, will u sell??? Or fight a long court case??? This is an interesting post. I'm now in Penang staying at Eastin Hotel and outside there is a building with a Banner that reads : ROCKWILLS Life is Full of Uncertainties (a BIG ROCK FELL ON A CAR) Have you done your WILL ? Call Rockwills Today ! The Parents if did not make a Will to state clearly who gets what = all siblings will take equal share lah - so what if he stays/take care of it all his life ? Wealth Cannot pass on to 3rd Gen = actually most do not pass thru 2nd ... Link to post Share on other sites More sharing options...
Doosan 1st Gear November 21, 2011 Share November 21, 2011 A typical case of 'when it comes to money, siblings also can forgo'. I think your fren has to sell. again, old chinese saying: wealth that gathered, nvr mind how & by which way, wud not last through 3rd generation. some1 may say education is important to these children, but i wud rather believe by doing charity with in yr means, this may influence children's mentality once family's wealth is concern. i cud be salah though......... Link to post Share on other sites More sharing options...
Adrianli Hypersonic November 21, 2011 Author Share November 21, 2011 who owns majority? No majority, all equal share. My fren really do not want to sell cos he knows how much hardwork his parents put in to buy that property some 40yrs ago at only S$100,000+. I doubt u can buy any landed at this price anymore. Its not abt money for my fren, its abt a place where his parents once lived. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic November 21, 2011 Share November 21, 2011 bo bian lor... siblings wanto sell... ask him buy a ferrari cheer himself up Link to post Share on other sites More sharing options...
Fcw75 Hypersonic November 21, 2011 Share November 21, 2011 This type of cases has appeared many times in the papers. Siblings fighting over property. Link to post Share on other sites More sharing options...
Adrianli Hypersonic November 21, 2011 Author Share November 21, 2011 base on the location mentioned, probably selling it would be best. what happen one day suay suay govt want to take back the land at discounted price, then LLST Actually, the original property was 3/4 size of a football field. Govt taken 1/4 away already just to widen the main road. Link to post Share on other sites More sharing options...
Mkl22 Supersonic November 21, 2011 Share November 21, 2011 No majority, all equal share. My fren really do not want to sell cos he knows how much hardwork his parents put in to buy that property some 40yrs ago at only S$100,000+. I doubt u can buy any landed at this price anymore. Its not abt money for my fren, its abt a place where his parents once lived. well in his siblings mind is that he is staying there for "free". so now its the time to split it and be fair about it. Link to post Share on other sites More sharing options...
Calvin79 2nd Gear November 21, 2011 Share November 21, 2011 No majority, all equal share. My fren really do not want to sell cos he knows how much hardwork his parents put in to buy that property some 40yrs ago at only S$100,000+. I doubt u can buy any landed at this price anymore. Its not abt money for my fren, its abt a place where his parents once lived. Honestly, i strongly believe all parents work hard for the sake of the children.... slog the whole life to make sure they enjoy a better life... hence, your friend's family are enjoying the fruits of the labor... its a 100x increase.... How many siblings he has? Link to post Share on other sites More sharing options...
Adrianli Hypersonic November 21, 2011 Author Share November 21, 2011 bo bian lor... siblings wanto sell... ask him buy a ferrari cheer himself up My fren no license leh. He only use public transport, otherwise how to upkeep the property with his tiny salary. But I forsee him being a millionaire once he sells it!!!! Link to post Share on other sites More sharing options...
Adrianli Hypersonic November 21, 2011 Author Share November 21, 2011 Honestly, i strongly believe all parents work hard for the sake of the children.... slog the whole life to make sure they enjoy a better life... hence, your friend's family are enjoying the fruits of the labor... its a 100x increase.... How many siblings he has? Total eight of them. Three gone liao. So he has to split among the five + the other two dead siblings nephews. One died under the hands of jepun soldier so no need count his share. Link to post Share on other sites More sharing options...
Heng51 2nd Gear November 21, 2011 Share November 21, 2011 My fren no license leh. He only use public transport, otherwise how to upkeep the property with his tiny salary. But I forsee him being a millionaire once he sells it!!!! It may not be a bad choice to sell now while the property market is hot... Keep the cash and bid for a chance to buy back... maybe for a fraction of that price. Link to post Share on other sites More sharing options...
JackRabbit 3rd Gear November 21, 2011 Share November 21, 2011 Actually, the original property was 3/4 size of a football field. Govt taken 1/4 away already just to widen the main road. before the gahmen sapu yet another 1/4, and leave him only 1/4 football field... better sell chop chop and cash out.... buy condo, and live in luxury with swimming pool, jacuzi, sauna, gym, tennis courts, security guard, and covered car park, and not least: Peace of mind with siblings.... fully paid with proceeds from sale of 1/2 football field. I only see upside to selling ... what your friend still waiting for? Peace with siblings better or fight to keep property that you cannot take with you when you die, better? ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Singapore Property Scene Discussion
Singapore Property Scene Discussion
Properties info
Properties info
Property in Johor
Property in Johor
Singapore ranked most liveable city in Asia for 20th straight year: ECA
Singapore ranked most liveable city in Asia for 20th straight year: ECA
Greater Southern Waterfront discussion
Greater Southern Waterfront discussion
Mercs: property news & updates
Mercs: property news & updates
Checklist: Things to look out for when buying a place
Checklist: Things to look out for when buying a place
First Testing
First Testing