Inherited Property

[chrischris 0]

If I am my other 3 siblings inherited a pte property with 25% share each, are we required to sell off the inherited property if one of the siblings has a hdb flat that has not meet the MOP? Or we can continue to keep the inherited property together?

[onions2hot 0]

Has the property been fully paid? If yes should be no problem...the lawyer should be able to advice u after u inherited the property. All 4 of u r the co-owner of the property,not the sole owner,the property cannot be sold unless all 4 of u sign on the dotted line.

[yoongf 11]

Take note.. when the distribution is "25% share each". By specifying a %.. meaning each sibling owns 25% under tenancy in common, and not as joint tenants. BIG DIFFERENCE!

Most comments in other forums say.. can apply for exemption.

http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilitytobuynewHDBflat?OpenDocument#PrivateProperty

Ownership/Interest in Property in Singapore or Overseas other than HDB flats

You, your spouse, any occupiers listed in the Application Form or their spouses must not own or dispose or have an estate or interest in any other flat, house, building or land*

Within 30 months before the date of application, and

Between the application date and the date of taking possession of the flat

* includes but not limited to:

HUDC flats (Privatised and Non-Privatised)

Properties acquired by gift

Properties inherited as beneficiaries under a will or as a result of the Intestate Succession Act

Private properties

Properties owned/acquired/disposed through nominees regardless of properties location

Exemption to Exceptional Cases

HDB may consider granting exemption to exceptional cases based on the merits of each case. If you wish to seek exemption to buy a flat direct from HDB, please complete the property questionnaire and submit it to HDB.

[deviansyh 0]

i noe of a case where the guy inherited a private property where the distribution is 50% each.. n he's juz days away from key collection.. coz of tis inheritance.. he lost his HDB flat le.. appeal n complain to MP also in vain..

[70wood 0]

When you say inherited, does it mean that the said property is an estate? Whether to sell or not is subject to what exactly the WILL stipulates. Where the MOP is concern, there is room for case-to-case settlement with HDB if the collective decision is to keep the property intact.

[Cnocturnum 0]

According to the relevant regulations, you cannot apply to buy HDB properties (includes BTO, DBSS, EC) directly from the Board or a developer of the EC if you inherited a property less than 2.5 years ago. So if you inherited the property or even a part of the property, you cannot apply, or rather you are disqualified. Further, this disqualification still applies even if and when you have sold the inherited property. So if you inherited a house or a 50% share (say you got a sibling) of a house and then both of you sold the house, or you sold your share to your sibling all happened in 2012 (from Jan till Dec 2012), then you cannot buy HDB direct, even as a second-timer.

The key points are : HDB properties; inherited; property (part or more); sale of inherited property; and 2.5years ago.

Now if you know this regulation in advance, and know that you will be inheriting a part of property, you could pre-arrange something with your sibling(s), and thereby avoid the inheritance regulation.

Please correct me if I'm wrong, People.

[Cnocturnum 0]

Next, if you already applied for an HDB property (flat, BTO, DBSS, EC) and have waited about 2 years, and suddenly you inherit a share of a property (or a property), then this also disqualifies you as a Buyer of HDB flat (even EC). Even selling it very quickly will not help your situation, according to the regulation.

The key points are as in my last post.

I find this very unfair and unreasonable; and that the regulation is very idiotic. How can you know, or how can you help it, or prevent it ... that you will inherit a share of a property within 2.5 years of applying for an HDB flat? Like, you apply, wait 2 years, then someone has a heart attack and leaves you a property. How can this unforeseen event disqualify your status? This is a stupid regulation !

And it can, and should, and must be challenged if it happens to you.

That is why there is that additional bit that it can be considered on case by case basis.

If people fall into this situation simply accept the regulation and even accept the penalty or even lose whatever they paid, or even a portion of their payment, then they have only themselves to blame.

Some MPs are stupid people and do not know anything, and accepts whatever the HDB says etc. Go further.

chrischris, I think this applies to you.

Please correct me if I'm wrong.

Edited June 1, 2013 by Cnocturnum

[Cnocturnum 0]

Clarification; I referred to EC situation.

Regulations with other HDB properties could be less stringent.

[johnson33445 0]

that's wright i agreed with you When you say inherited, does it mean that the said property is an estate? Whether to sell or not is subject to what exactly the WILL stipulates. Where the MOP is concern, there is room for case-to-case settlement with HDB if the collective decision is to keep the property intact.same i have also think about it.

Edited December 2, 2014 by johnson33445

[keltan8 0]

if let say you are not aware and went on to apply BTO ...

will HDB scan thru your application and know that you are not qualify ? and then wrote to tell you that you cannot apply ..

i had a situation ( only know after reading this post ) :

mum pass away on dec'12 , left behind a will to transfer her name (4 room hdb ) to son and daughter on Mar'13 , now son had applied for BTO on Jun'13 and had got a queue number ?

question is : Is he disqualify ?