Advise on divorce matters

[Yoshitei]

During one particular class gathering, a group of ex-classmates were discussing their marriage life when one of them decided to share her problems.

She married shortly after graduation and followed her husband on his overseas assignments; however there seems to be some cracks in the relationship and both decided to file for a divorce sometime this year.

Given that she spends most of her married life as a homemaker, she has minimal savings and CPF which greatly worries her although she has been gainfully employed for over a year now.

They have a HDB apartment and she’s a couple years shy of 35 but hopes to take over the apartment. What can or should be done at this juncture?

If the Decree Nisi Absolute is issued before she reaches 35, does that means the apartment will have be put up on the market?

If she manages to buy over her husband’s share, will it be at market rate or at the rate at which they bought the place?

Can she take a HDB loan or will she have to take a loan from the banks?

What’re the relevant government departments she can contact to enquire on her situation?

Thanks for your input.

 

[chupacabra]

During one particular class gathering, a group of ex-classmates were discussing their marriage life when one of them decided to share her problems.

She married shortly after graduation and followed her husband on his overseas assignments; however there seems to be some cracks in the relationship and both decided to file for a divorce sometime this year.

Given that she spends most of her married life as a homemaker, she has minimal savings and CPF which greatly worries her although she has been gainfully employed for over a year now.

They have a HDB apartment and she’s a couple years shy of 35 but hopes to take over the apartment. What can or should be done at this juncture?

If the Decree Nisi Absolute is issued before she reaches 35, does that means the apartment will have be put up on the market?

If she manages to buy over her husband’s share, will it be at market rate or at the rate at which they bought the place?

Can she take a HDB loan or will she have to take a loan from the banks?

What’re the relevant government departments she can contact to enquire on her situation?

Thanks for your input.

Bro I not expert but I handled my mom's property when she went through a divorce with my dad.

Firstly both have to see eye to eye. If one disagree on a major matter than everything gonna be difficult.

Her husband calls the shot here since he paid for the flat. He could help her by agreeing to sell the flat at a later date after the divorce(need a lawyer for this, about 5k). But it will effect his ability to get another flat later on.

Her case is a problem because the house is not fully paid. In my opinion it is better for her to look for an alternative lodging.

CPF board would want her to pay every cent including interest back into her husband CPF account. How is she gonna do that if she do not sell the place.

Unless she can come up with the money, she got no choice but to sell.

Sinkeepore is a unforgiving and heartless country, do not hope for sympathy from any governing body.

Sorry I don't want to come across as being mean. All the best to your friend.

 

[chupacabra]

She should go to a bank and see if she qualifies for a bridging loan but only if she own half the property.

 

[Yoshitei]

She should go to a bank and see if she qualifies for a bridging loan but only if she own half the property.

I've heard of a bridging loan before, but how does it work here?

Get a bridging load to buy over her husband's share then mortgage the apartment?

 

[chupacabra]

Bridging loan is given out to you in order to purchase your second home while waiting for your first home sale to be finalized. Depending on how much money you make on your sale will determined the loan amount.

I hope I am right. It is still better for her to seek the banks advice. I can't believe I said that knowing that banks themselves are in knee deep shit.

 

[Frankiestine]

Dun worry due to archaic and one sided familee cock in enforcing the Woman charter, your friend won't probably lose out much..

If the Decree Nisi Absolute is issued before she reaches 35, does that means the apartment will have be put up on the market?

in the first place does she qualify to keep the house ie able to form a family unit...

If she manages to buy over her husband’s share, will it be at market rate or at the rate at which they bought the place?

if she buys over hubbie portion it is at the old rate something which most hubbie will contest...and the fuck up judge can award whatever contribution the hubbie has contributed from cpf to housing to be awarded to her...yeah that right that how i got screwed big time by the fuck up familee cock...and i was even willing to give up the house to her uncontested..

Can she take a HDB loan or will she have to take a loan from the banks?

depends on how many times she have used her entitlement for housing

 

[Lian9]

Bro, most important is to form family unit to take over, otherwise has to be sold on open market.

If she didnt contribute much in cpf for the hse, then goo for her. Cos she will take majority of the cash earnings from the sale.

 

[Yoshitei]

Dun worry due to archaic and one sided familee cock in enforcing the Woman charter, your friend won't probably lose out much..


in the first place does she qualify to keep the house ie able to form a family unit...


if she buys over hubbie portion it is at the old rate something which most hubbie will contest...and the fuck up judge can award whatever contribution the hubbie has contributed from cpf to housing to be awarded to her...yeah that right that how i got screwed big time by the fuck up familee cock...and i was even willing to give up the house to her uncontested..


depends on how many times she have used her entitlement for housing

Well, she certainly isn't able to form a family unit, but would it help if she's above 35?

From what I understand, this her first home purchase and she bought it from HDB.

 

[tristesse]

She has to be above 35 years and above to own that flat alone, and she has to have enough in her CPF or in cash to pay her husband for his share in the flat.

 

[Yoshitei]

She has to be above 35 years and above to own that flat alone, and she has to have enough in her CPF or in cash to pay her husband for his share in the flat.

A loan cannot be taken up to repay the husband?

I was thinking that if possible, re-mortgage the apartment under her sole ownership?

 

[shining shin]

The wife is not 35 and if the divorce goes through, I don't think she can hold on to the flat.

If her husband is 35 or more, he can hold on to the flat provided he compensate her. Amount depends on her contribution to the flat.

If both of them are not 35, I think they have to return the flat to HDB. Compensation based on valuation. Split between husband and wife will be sorted out by themselves or lawyers handling divorce.

My 2 cents....

 

[SammyHulk]

A loan cannot be taken up to repay the husband?

I was thinking that if possible, re-mortgage the apartment under her sole ownership?

Yes it is possible because when their house is up for sale, it will become a re-sale flat and she will become a first timer which qualified her to take the hdb grant (not much, single 11k, a family nucleus can up to 20 or 30k) as a first timer in open market sale and hdb may grant her a loan though case by case, her chance of securing a hdb loan instead of bank will be higher if she got a child which is a priority consideration (a family nucleus). If not, most probably a bank loan seems more possible but still can try ; )

The house will go through normaly procedures such as unit valuation and other admin charges just like a normal hdb transactions between a buyer and a seller with the help of a property agent. Just that in her case, she will be a seller first (since most likely the hdb was bought under joint tendency, which means she shared 50% ownership of the unit irregardless whether she participated in paying the mortgage loan or not and will get her share if the unit is sold) and then buy the flat as a buyer.

It is possible she don't have to cough out big money like topping up her ex-husband's cpf account since he will be getting his share of precedes when the unit is sold, so part of his share will be contribute back into his cpf account (but your friend will have to top up his cpf interest incurred since she takes over the flat) and the remaining sum will be issued as a form of cheque to the man (provided it's a positive sale, that means profits gained when unit is sold)

As of her share, she will use it to pay for the new price of the now considered re-sale unit, topple up what ever cpf interest incurred on her ex side. The hdb sale procedures still applied except she won't be seeing any cold hard cash (this case, her profit) since for her side everything will be done in paper such as property agent's com, lawyer's fee and hdb charges if any which will be deducted first in the sales precedes (again provided it is a positive sale) exclude hdb duty stamp fees and admin charges pertaining to the sales of the flat, cpf deductions blah blah blah.

(of course mah, the external parties (the agent, lawyer even hdb) will want their shares for services provided then the remaining will go to the parties of concerned )

All i know your friend will be quite siong in keeping up the payments even she loan for 30 yrs, cash top up is a big possibility for her if she dont earn much unless rent out rooms to subsidies the loan ( the rental policy of hdb unit still applies, this one gotta check out herself lor). Then again your friend now only 33 yrs old unless it's a 3 - 5 years separation instead of a straight divorce, she still have a shot. If it's the latter. most probably gotta sell the flat.

Hope helps

 

[DIVISION1]

Divorce is such a bad thing. Things should be settled out of courts and away from the government. The government does not tell you who to marry in specific. It is your own decision and thus responsibility.

 

[Yoshitei]

Thank you very much for all your input.

I'll let her know her options...