Divorce - HDB Matters

Cherisher

New Member
In the midst of getting a divorce after almost 10 years of marriage. Ex and me have agreed on an uncontested divorce.

Am stuck at HDB matters though. Both of us have agreed on a 50-50 division of the HDB with me retaining the flat. We have also come to an agreement on the HDB price.

Would like to seek advice on:
1) how would the procedures would be.
2) Do i take out a HDB loan to continue finance the flat and to use use this loan to refund back to his CPF?
3) We have worked out on a HDB price, do HDB CPF take into account of the price that we have agreed on only base it on the valuation of the flat?

Thanks a lot.
 


janlim512

Member
Yes. You need to retake hdb loan. Price is not decided by you both unless you plan to sell in open market. The price is decide by hdb.
 

Eggyoke

New Member
Check your cpf property statement to know how much was used ..you would need to pay back the amount as well as interest.

How many times have you taken HDB property loan ?
 

Mongkok

Active Member
In the midst of getting a divorce after almost 10 years of marriage. Ex and me have agreed on an uncontested divorce.

Am stuck at HDB matters though. Both of us have agreed on a 50-50 division of the HDB with me retaining the flat. We have also come to an agreement on the HDB price.

Would like to seek advice on:
1) how would the procedures would be.
2) Do i take out a HDB loan to continue finance the flat and to use use this loan to refund back to his CPF?
3) We have worked out on a HDB price, do HDB CPF take into account of the price that we have agreed on only base it on the valuation of the flat?

Thanks a lot.
Assume you guys hv decided on a selling price of the hse and it's near mkt rate.

If it's a sell and buy, buyer, in addition of paying the hse price, will pay BSD (buyer stamp duty).

If it's an ownership transfer, you will hv to take a hm loan and the loan monies goes to:
1) pay bk his cpf contribution plus interest.
2) he will recv cash for the diff.

Point to note: if the agreed hse price exclude his cpf interest, you will end up paying more.
 

ValenCia79

New Member
There are multiple considerations though. not sure if you have kids. If you do have kids, things might be different and some policies may help you get more favourable loans. You may be able to retain under the Single Singapore Citizen Finance Scheme. Though if you sell, bulk of it has to go back to replenishing your CPF first...

You can refer to this article: https://blog.bluenest.sg/hdb-flat-divorce-bankruptcy
 

Cherisher

New Member
Hi all, I am back after a year and settled my HDB stuff and divorce. Process was painful and tedious but hope it is worth it.
In all, HDB reissued a loan to me based on my income and the monthly payment will be deducted from CPF. The loan will also go towards paying ex's CPF.
How they determine how much to loan was through the normal procedures of applying for the HDB Loan Eligibility, submitting the relevant documents such as payslips and NRIC.
After the loan is approved, both parties are required to loan into the HDB portal to do a transfer of ownership.
For Divorcees, we will be able to retain the flat provided that we can form a nucleus family with our kids . That is also provided that you meet the loan eligibility. You are only eligible to opt for the transfer once you have obtained the final judgement.
Hope this clarifies.
 

Cherisher

New Member
Yes. You need to retake hdb loan. Price is not decided by you both unless you plan to sell in open market. The price is decide by hdb.
Hi Jan, For my case. We decided on the price and submitted for approval. But HDB did sent someone down to access the flat. Perhaps to see whether the price is correct anot.
 

Cherisher

New Member
Assume you guys hv decided on a selling price of the hse and it's near mkt rate.

If it's a sell and buy, buyer, in addition of paying the hse price, will pay BSD (buyer stamp duty).

If it's an ownership transfer, you will hv to take a hm loan and the loan monies goes to:
1) pay bk his cpf contribution plus interest.
2) he will recv cash for the diff.

Point to note: if the agreed hse price exclude his cpf interest, you will end up paying more.
Hi, for my case, the home loan goes towards paying the rest of the installments of the flat as well as paying his share of what we agreed upon.
 

Ellyyy

New Member
Hi all, I am back after a year and settled my HDB stuff and divorce. Process was painful and tedious but hope it is worth it.
In all, HDB reissued a loan to me based on my income and the monthly payment will be deducted from CPF. The loan will also go towards paying ex's CPF.
How they determine how much to loan was through the normal procedures of applying for the HDB Loan Eligibility, submitting the relevant documents such as payslips and NRIC.
After the loan is approved, both parties are required to loan into the HDB portal to do a transfer of ownership.
For Divorcees, we will be able to retain the flat provided that we can form a nucleus family with our kids . That is also provided that you meet the loan eligibility. You are only eligible to opt for the transfer once you have obtained the final judgement.
Hope this clarifies.
Hi. Just curious. What made you both decide on divorce after 10 years of marriage? Did you both try marriage counselling prior?
 

lucido

New Member
Hi all, I am back after a year and settled my HDB stuff and divorce. Process was painful and tedious but hope it is worth it.
In all, HDB reissued a loan to me based on my income and the monthly payment will be deducted from CPF. The loan will also go towards paying ex's CPF.
How they determine how much to loan was through the normal procedures of applying for the HDB Loan Eligibility, submitting the relevant documents such as payslips and NRIC.
After the loan is approved, both parties are required to loan into the HDB portal to do a transfer of ownership.
For Divorcees, we will be able to retain the flat provided that we can form a nucleus family with our kids . That is also provided that you meet the loan eligibility. You are only eligible to opt for the transfer once you have obtained the final judgement.
Hope this clarifies.

Hi Cherisher, i have started divorce proceedings. May I know at which stage of the divorce did you approach HDB? Did you engage a property agent to act on your behalf or you oversee everything yourself? Thanks in advance for your advance.
 

Cherisher

New Member
Hi Cherisher, i have started divorce proceedings. May I know at which stage of the divorce did you approach HDB? Did you engage a property agent to act on your behalf or you oversee everything yourself? Thanks in advance for your advance.
Hello.
I sent you a PM.
Oversee everything myself of course with some help from HDB officers as I had a lot of enquiries.
After the Final judgement, I went ahead to submit the loan eligibility and procedures.
 

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