How is the hdb repayment calculated?

[CamholicX]

A = wife

B = husband

 

A and B divorced.

They had a 5 rm hdb. Both contribution is 50-50.

B decided to sell the house to A at market price.

 

If the house can be sold at 500k. And currently there is no more

Outstanding loan from cpf.

 

How is the repayment for A to B like?

[D3badge]

A = wife

B = husband

 

A and B divorced.

They had a 5 rm hdb. Both contribution is 50-50.

B decided to sell the house to A at market price.

 

If the house can be sold at 500k. And currently there is no more

Outstanding loan from cpf.

 

How is the repayment for A to B like?

 

whatever owe CPF pay back 1st with interests, so even CPF uneven contribution, repayment will pay accordingly. balance then 50-50 spilt

Edited June 24, 2013 by D3badge

[CamholicX]

whatever owe CPF pay back 1st with interests, so even CPF uneven contribution, repayment will pay accordingly. balance then 50-50 spilt

 

Meaning if market rate is 500k.

Each will have 250k, based on 50-50

A will have to return B 250k ?

[LoverofCar]

Meaning if market rate is 500k.

Each will have 250k, based on 50-50

A will have to return B 250k ?

 

% doesn't really matter.......any amount taken out from CPF by both person must be returned include interest first. go to CPF website to find out how much each drawn out for the flat.........after that...if B sell to A at the valuation price or market price...any profit will be shared by both or up to both to decide as it is profit after repaying CPF and CPF board don't really manage that..........after which... ...A will have to pay the instalment herself...

Edited June 24, 2013 by LoverofCar

[Yewheng]

< deleted>

Edited June 24, 2013 by Yewheng

[Jman888]

i think shouldn't be different from normal sales transaction, sell first let CPF take back whatever need to be returned, then buy at whatever agreed price.

[BlueOldMan]

< deleted>

 

Eh why u delete reply huh? Share share some tok kong reply leh

Hahaha

 

Ps, B must be ts

[CamholicX]

Ok to be a bit clear.

 

Contribution to the house is 40 - 60. Cost price of the house is 200k

 

But in total, A contribute 80k and B 120k.

There is no outstanding loan now.

 

Now both A and B want to divorce. A wanted the house. B only agree to sell the house to A at market rate. If the market rate is now 500k.

 

How much A need to repay Cpf and B. ( in terms of cash or cpf?)

[Yewheng]

Eh why u delete reply huh? Share share some tok kong reply leh

Hahaha

 

Ps, B must be ts

 

Coz, after I post, I feel that there is things I not sure. Don't want later ma lu myself.

[Jman888]

go CPF online which will tell how much you need to return including interest. it all written there, doesn'tatter the percentage of contribution.

 

Ok to be a bit clear.

 

Contribution to the house is 40 - 60. Cost price of the house is 200k

 

But in total, A contribute 80k and B 120k.

There is no outstanding loan now.

 

Now both A and B want to divorce. A wanted the house. B only agree to sell the house to A at market rate. If the market rate is now 500k.

 

How much A need to repay Cpf and B. ( in terms of cash or cpf?)

Edited June 25, 2013 by Jman888

[Chucky2007]

Ok to be a bit clear.

 

Contribution to the house is 40 - 60. Cost price of the house is 200k

 

But in total, A contribute 80k and B 120k.

There is no outstanding loan now.

 

Now both A and B want to divorce. A wanted the house. B only agree to sell the house to A at market rate. If the market rate is now 500k.

 

How much A need to repay Cpf and B. ( in terms of cash or cpf?)

It all be A+B sell to A.

 

Meaning 500k split 50/50 to both A&B (assuming joint tenancy and not tenancy in common of 60/40). Therefore 250k goes to A, 250k goes to B.

 

Then A will have 80k+acrued interest goes back CPF, B will have 120k+% goes back to CPF. Then the 250k-CPF portion will be the the cash amount which each party takes.

 

A will then purchase the house at 500k.. how much to loan can A take will be dependant on if its HDB or bank loan. If hdb loan. Therefore A must be able to support the loan herself base on her income. If cannot support the loan, then must seek hdb help to get another set of calculation from hdb.

 

Most lawyer who specializes in conveyancing will be able to advise clearly. Get A to talk to the lawyer first (the one whom A whould want to use to handle the new loan)