selling hdb and divorce.

[newen]

hi,
my marriage is on the rocks, but in the process of salvaging it. Divorce is the last solution. but will want to plan for worst case scenerio.

if i sell the flat, then divorce, will the sales proceeds/profits and cpf be halved between me and wife?

she doesnt want any profit since she did not pay for it.

the flat hdb loan is solely serviced by me.

my friend told me in this case, wife will only get 10k in cpf (if i have taken housing grant)

hope experienced and knowledgeable bros can enlighten me, and not make nasty remarks.

thanks

[mic9]

if u sell before divorce ,both u must agree on e profit . the cheaque is issue on both party names,cpf will automatic go back each other acc base on how much u have pay.if she say she don wan money then u ask her to sign on agreement stating that she willing to give up her share,if not later she fight back , u sure lose at least half of it. i was a fool when i divorce . my ex say all 50 50 so i go prepare divorce . end up she fight wif me n she win 67% of e profit , all expenses is i paid. ours cpf is halve . in law women chapter is sure win .
UP ME IF MY IFO IS USEFUL BRO...

[Big Sexy]

mate..

if she didnt make any from of contribution and
is not going to contest it..
then you have nothing to worry about except for the maintenance fees

http://www.sammyboyforum.com/adult-discussions-about-sex/40761-all-you-need-know-about-marriage-divorce-under-sg-law.html


hi,
my marriage is on the rocks

[bonkster]

The sales proceeds/profits will first be returned to both your CPF accounts. If there r no disputes, the amount that returns to your CPF accounts is apportioned based on how much each individual has contributed to the flat using his/her CPF.

The amount to be returned to the CPF account is also interest compounded (i.e. includes the interest that could have been earned if the amounts contributed had been left in your CPF ordinary account). I think u can find out the exact amount that needs to be returned by logging into your online CPF account on the CPF Board website.

What is left is usually divided 50-50, unless either party disputes or there is an existing legal agreement stating what portion each party will receive. If the wife disputes, she will most likely be compensated very well, even if she did not pay for the flat.

Hope this helps. And yes, i totally agree with u that divorce is the last option. Draining both emotionally and financially...worse if there r kids involved. Hope u turn things around bro. All the best! ;)

[newyorker88]

hi,
my marriage is on the rocks, but in the process of salvaging it. Divorce is the last solution. but will want to plan for worst case scenerio.



thanks

I do suggest you work on the marriage rather than planning about divorce. Brothers here kindly directed you with links.

It is a waste that if the marriage you treasured and look forward to comes to an end just over small things that both of you cannot agree upon. Reflect back on the times when both of you are dating.

Get help, from marriage consulsolars, or elders. Put aside your anger and hate first and sit down to discuss what is the problem. If you want the marriage to survive, both party must TALK. Communication break down is most common form of barrier, and leads to all types of problems.

If there are kids involved, the situation will be more complicated, and your kids will be badly affected in the long run too.

Hope this helps.

[newen]

bro bonkster thank you! i sure hope too! thanks again

thanks for the link bro bigsexy

Thanks to all bros here for your invaluable inputs! may all we sgmen find true loves!

[bonkster]

bro bonkster thank you! i sure hope too! thanks again

U r welcomed bro. ;) Think bro newyorker's advice on getting help from marriage counselors or wise elders who appeal to both of u is definitely worth a try, if u haven't already done that.

Looking forward to hear some good news from u in future. U can do it! (in Rob Schneider style) :D. Cheers :)

[thaivisitor]

hi,
my marriage is on the rocks, but in the process of salvaging it. Divorce is the last solution. but will want to plan for worst case scenerio.

if i sell the flat, then divorce, will the sales proceeds/profits and cpf be halved between me and wife?

she doesnt want any profit since she did not pay for it.

the flat hdb loan is solely serviced by me.

my friend told me in this case, wife will only get 10k in cpf (if i have taken housing grant)

hope experienced and knowledgeable bros can enlighten me, and not make nasty remarks.

thanks

If you sell the flat now before divorce, then you might as well kiss your marriage goodbye.

The flat is a place where your wife and you set up home. It brings you together. If you are in the midst of trying to salvage your marriage, the worst thing is to cut off what will bring you two together.

In order to salvage your marriage, cut off all thoughts of "worst case" scenario or situations, negative thoughts, etc and concentrate on how to build or rebuild your marriage.

Good luck to you.

Tee Vee

[newen]

i heard you. thank you for the sincere advice. 谢谢

[see see only]

hi,
my marriage is on the rocks, but in the process of salvaging it. Divorce is the last solution. but will want to plan for worst case scenerio.


she doesnt want any profit since she did not pay for it.


thanks

Hey TS, from the sentence above in bold.

Ur OC sound like a reasonable lady.... all my lady friends who went through divorce always make a killing with their ex-hus assets. since sg law always protect woman :mad:

I suggest, why not you guys sit down nicely again to talk about this. Nothing in this world cannot work out one....

If both parties' willing, there must be a way out :)

[Max77]

very sorry to hear it once again so soon...but dear TS, plse think carefully about the divorce. Allow urself a few days to calm down. Which married couple don't quarrel?

[Boost]

Bros can anyone help my understanding that in a divorce if one party decides to keep the house, he/she can buy over the other party's share?

[KinJioKar]

Bros can anyone help my understanding that in a divorce if one party decides to keep the house, he/she can buy over the other party's share?

If this is a matrimonial asset, it would have to be liquidated and split accordingly

[Liquid@cid]

Bros can anyone help my understanding that in a divorce if one party decides to keep the house, he/she can buy over the other party's share?

There is no buying over of shares de, when a couple divorce...

1. they are the only 2 leaving in the house and they deicide to sell it, firstly CPF contribution of both parties are to be return to their respective CPF acc with interest accumilated over the years, profit (in cash) after the sale is to be split by both parties, unless either one party tot that he/she should be awarded most of the profit and have provided valid proof to support his/her claim, in the event that either one party doesn't want any profit from the sale of the house, he/she will only be returned the CPF contribution with interest and not any cash from the balance, however he/she should sign in the matrimonial property plan of the divorce paper with the presence of a lawyer that he/she will not be contesting his/her rights to the profit anymore

2. they are living together with the parents of the husband where the house is under the couple's name, in the event of divorce, the wife wanted out of the ownership, the husband can still hold on to the flat due to the fact that he is living with his parents, but he will have to pay the wife back the CPF that she had contributed over the years, with interest, and the cash profit that his wife is suppose to have after the sale of the house, after which he will get to keep the house and cont to stay with his parents, but if he is under 35 yo, either his mom or dad's name will need to be added into the ownership of the house, if the wife is kind enough not to contest the claim of the profit, den the husband will just need to pay her back her CPF contribution

your buy back case will only happen in senerio 2, and that is base on a case to case basis, mostly only when there are elderly staying in the house, if there are no other tenant other den the couple themselves, the house would have to be sold if either party wanted to sell it....

[Boost]

Oh
Crap.

Sigh. Thanks bros for detailed advice.

[sub2lady]

if i sell the flat, then divorce, will the sales proceeds/profits and cpf be halved between me and wife?

she doesnt want any profit since she did not pay for it.

the flat hdb loan is solely serviced by me.



Bro newen

Sad to hear that, better you consult a lawyer for it.

1. if your wife doesn't want any profit, then ask her to sign before the lawyer for agreeing on that and will not contest.

2. if not, she will get at least 50% of the profit according to SG law and woman's charter, the law is very protective towards women, sad for SG man

3. take action to protect your other interests locally and globally, you should know what it means.


I do suggest you work on the marriage rather than planning about divorce. Brothers here kindly directed you with links.

Bro newyoker88, I beg to differ, we need to plan for the worst when facing the potential divorcing situation, of course we also need to work on the marriage part itself.

[Big Sexy]

mate..you are wrong..
we are talking about someone who did not contribute a cent and
is not going to contest the case..



2. if not, she will get at least 50% of the profit according to SG law and woman's charter

.

[mentholfresh]

If there's profit from selling the flat, it's right to share the gain (not the sale proceeds) even if it's in your own name, if she did give her contribution as a wife in the kind of doing most of houseworks, chores etc...

If she have a full time job, in my opinion, I do not agreed on giving the after marriage monthly maintenance thing...

If kids are involved, be responsible to provide for their upbringing.

[Big Sexy]

mate..
why not???
the woman's chapter didnt come to light in recent years..
The Women's Charter was an Act of the Singaporean Parliament passed in 1961
Women's Charter (Singapore) - Wikipedia, the free encyclopedia (http://en.wikipedia.org/wiki/Women%27s_Charter_%28Singapore%29)
one has nobody to blame except for himself....



I do not agreed on giving the after marriage monthly maintenance thing...

[Big Sexy]

of course..
there were amendments to the orginal ones..
so the womens chapter got change any of its laws?