Question about HDB after death

[dgeralds]

My mum is in her last stage of life. She has a WILL. She has already made a CPF nomination. She also already made insurance nomination. She has a fully paid HDB (single owner as dad passed away). She has very little monies in bank and almost zero in CFP. I have access to all bank accounts. Can I know how to go about disposing the HDB? Does HDB follow the WILL? Do I have to engage a lawyer to dispose HDB? We are 3 siblings and no squabbles beteen us and in good relationship. The WILL says to split ALL my mums wealth equally among 3.


Any inputs will be appreciated. Any links to websites will also be helpful.

 

[LWZ]

Are you inheriting 100% of the flat ?

 

[dgeralds]

Are you inheriting 100% of the flat ?

No we are 3 siblings but all are in good relationship.

 

[blurpandasg2014]

The executor have to sell the flat. Lawyer can advise. Usually transfer the flat to a sibling with no property and sell when all happy with the price.

if all have property den headache. Need to dispose off within 6mth if not wrong

https://www.yourpropertymatters.sg/hdb-grant-of-probate/

 

[nethdale]

In general, in your case, the executors are the three siblings. If all of them own HDB flats, they need to sell the inherited HDB within six months, according to HDB’s T&C.
If one sibling wishes to retain the HDB, he/she can do so only if he/she owns private property and must buy out the shares of the other two siblings if the will indicated the percentage of share in the inherited HDB. This process requires involving a lawyer and completing a document called a "Deed of Gift," which transfers the title deed to the executor who wishes to purchase the property. This process definitely involves money. It is best to ask HDB.

 

[yoongf]

With death cert and will, executor need to apply for Grant of Probate.

With this probate, executor can sign documents as if excutor is the deceased.
This probate can then issue OTP to buyer of the flat.

The probate can also instruct banks to close accts and how the funds are to be moved.

Can DIY apply for the Grant of Probate, or can use lawfirm.

https://www.judiciary.gov.sg/family... Grant of,deceased's debts and other expenses.

 

[Nofear40]

In general, in your case, the executors are the three siblings. If all of them own HDB flats, they need to sell the inherited HDB within six months, according to HDB’s T&C.
If one sibling wishes to retain the HDB, he/she can do so only if he/she owns private property and must buy out the shares of the other two siblings if the will indicated the percentage of share in the inherited HDB. This process requires involving a lawyer and completing a document called a "Deed of Gift," which transfers the title deed to the executor who wishes to purchase the property. This process definitely involves money. It is best to ask HDB.

Do you know if it will be based on costs or market value?

 

[BBCWatcher]

My mum is in her last stage of life. She has a WILL. She has already made a CPF nomination. She also already made insurance nomination.

She’s done well. Many parents don’t get those steps done.

She should probably also prepare an Advance Medical Directive and Lasting Power of Attorney. These steps will help protect her interests and wishes at points in time before she passes on when she may not be able to make her own decisions.

 

[nethdale]

Do you know if it will be based on costs or market value?

Um, I'm not entirely sure about your query. If you are asking about buying out the other parties' shares, and each of you gets 33.33%, then you would need to pay 33.33% of the market value of the house. Of course, this part is negotiable since the three of you are on good terms. Hope it helps to clarify.

 

[Nofear40]

Um, I'm not entirely sure about your query. If you are asking about buying out the other parties' shares, and each of you gets 33.33%, then you would need to pay 33.33% of the market value of the house. Of course, this part is negotiable since the three of you are on good terms. Hope it helps to clarify.

Thanks
Yes- am asking if the shares buying over is to be done based on the original purchase price or the current market value.

 

[reddevil0728]

Thanks
Yes- am asking if the shares buying over is to be done based on the original purchase price or the current market value.

Is a willing buyer willing seller situation for the sale price specifically.

 

[nethdale]

Thanks
Yes- am asking if the shares buying over is to be done based on the original purchase price or the current market value.

I wanted to share some additional information with you. If you're "buying over" that flat, you'll need to update your address to the HDB flat and fulfill a 5-year occupancy requirement before you can consider renting it out. For specific details, it's best to check with HDB directly.

 

[henrylbh]

My mum is in her last stage of life. She has a WILL. She has already made a CPF nomination. She also already made insurance nomination. She has a fully paid HDB (single owner as dad passed away). She has very little monies in bank and almost zero in CFP. I have access to all bank accounts. Can I know how to go about disposing the HDB? Does HDB follow the WILL? Do I have to engage a lawyer to dispose HDB? We are 3 siblings and no squabbles beteen us and in good relationship. The WILL says to split ALL my mums wealth equally among 3.


Any inputs will be appreciated. Any links to websites will also be helpful.

What you mean by last stage? Few months left?

Only executor of the will and with grant of probate can dispose the property in the manner he deems fit and proper. How many are executor/s according to the will?

Grant of Probate needs private lawyer, if don't know how to DIY. Thereafter get agent to dispose and let hdb handle the conveyancing.

 

[PhantomOpera]

If the flat is willed to a son who owns a private ppty, can the son keep the flat? Or must sell?

 

[jonesftw]

My mum is in her last stage of life. She has a WILL. She has already made a CPF nomination. She also already made insurance nomination. She has a fully paid HDB (single owner as dad passed away). She has very little monies in bank and almost zero in CFP. I have access to all bank accounts. Can I know how to go about disposing the HDB? Does HDB follow the WILL? Do I have to engage a lawyer to dispose HDB? We are 3 siblings and no squabbles beteen us and in good relationship. The WILL says to split ALL my mums wealth equally among 3.


Any inputs will be appreciated. Any links to websites will also be helpful.

If there is a will
The deceased’s interest in the flat will be distributed according to the will.

You will need:

Grant of Probate
The deceased’s family should engage a private solicitor to apply for this court order, which gives legal authority to the Executor (the person named in the will) to manage the deceased's estate.

If there is no will
The deceased’s interest in the flat will be distributed according to the provisions of the Intestate Succession Act.

You will need:

Grant of Letters of Administration
The deceased’s family should engage a private solicitor to apply for this court order, which gives legal authority to the Administrator to manage the deceased’s estate.

https://www.hdb.gov.sg/residential/...s-occupiers/retain-flat-following-life-events

 

[Moowoow]

In general, in your case, the executors are the three siblings. If all of them own HDB flats, they need to sell the inherited HDB within six months, according to HDB’s T&C.
If one sibling wishes to retain the HDB, he/she can do so only if he/she owns private property and must buy out the shares of the other two siblings if the will indicated the percentage of share in the inherited HDB. This process requires involving a lawyer and completing a document called a "Deed of Gift," which transfers the title deed to the executor who wishes to purchase the property. This process definitely involves money. It is best to ask HDB.

Hdb no need him to sell off his private property?

 

[nethdale]

Hdb no need him to sell off his private property?

Are you referring to the thread’s case? Can buy the shares over from other siblings under “Title of deed” and need to remove the name from the private property; if am not wrong.. best engage and check with a lawyer. MUST stay 5 years for the “purchased” HDB.

 

[Moowoow]

Are you referring to the thread’s case? Can buy the shares over from other siblings under “Title of deed” and need to remove the name from the private property; if am not wrong.. best engage and check with a lawyer. MUST stay 5 years for the “purchased” HDB.

Yup
I see, so the name removed fr private property can be replaced by his wife or children?
What if his wife also owns another private property under her own name already?

 

[60Remajust]

I wanted to share some additional information with you. If you're "buying over" that flat, you'll need to update your address to the HDB flat and fulfill a 5-year occupancy requirement before you can consider renting it out. For specific details, it's best to check with HDB directly.

what if one of the sibling has no property, must the buying over of share be done within 6 months also?

 

[nethdale]

what if one of the sibling has no property, must the buying over of share be done within 6 months also?

Based on my understanding and HDB rule, it seems yes. All these require time even there is a will.