Regarding CPF & HDB. Singaporean Father. Foreign Child.

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redditbaker35
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Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by redditbaker35 » Sat, 01 May 2021 9:22 am

Hi, everyone. My father and I are the only two in the family.

He is likely to leave soon due to complicated health issue.

What will happen to his pension fund and hdb? Would I be able to inherit the assets temporarily as a foreigner?

therat
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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by therat » Sat, 01 May 2021 5:54 pm

redditbaker35 wrote:
Sat, 01 May 2021 9:22 am
Hi, everyone. My father and I are the only two in the family.

He is likely to leave soon due to complicated health issue.

What will happen to his pension fund and hdb? Would I be able to inherit the assets temporarily as a foreigner?
CPF base on his nomination. If no nomination then follow Intestate Succession Act.

HDB.. foreigner cannot inherit HDB. Have to sell away.

There are not such thing as inherit temporarily.

NOTE:
1. CPF and HDB is the only 2 thing that WILL have no power on it.
2. The Intestate Succession Act does not apply to Muslims.

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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by redditbaker35 » Sat, 01 May 2021 6:26 pm

therat wrote:
Sat, 01 May 2021 5:54 pm
redditbaker35 wrote:
Sat, 01 May 2021 9:22 am
Hi, everyone. My father and I are the only two in the family.

He is likely to leave soon due to complicated health issue.

What will happen to his pension fund and hdb? Would I be able to inherit the assets temporarily as a foreigner?
CPF base on his nomination. If no nomination then follow Intestate Succession Act.

HDB.. foreigner cannot inherit HDB. Have to sell away.

There are not such thing as inherit temporarily.

NOTE:
1. CPF and HDB is the only 2 thing that WILL have no power on it.
2. The Intestate Succession Act does not apply to Muslims.
How do I sell the HDB away if I can't temporarily inherit it?

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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by malcontent » Sat, 01 May 2021 7:14 pm

Those who renounce PR/SC get 6 months to sell their HDB. I’d guess it would be the same in your case.
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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sundaymorningstaple
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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by sundaymorningstaple » Thu, 26 Aug 2021 10:17 pm

redditbaker35 wrote:
Sat, 01 May 2021 6:26 pm
therat wrote:
Sat, 01 May 2021 5:54 pm
redditbaker35 wrote:
Sat, 01 May 2021 9:22 am
Hi, everyone. My father and I are the only two in the family.

He is likely to leave soon due to complicated health issue.

What will happen to his pension fund and hdb? Would I be able to inherit the assets temporarily as a foreigner?
CPF base on his nomination. If no nomination then follow Intestate Succession Act.

HDB.. foreigner cannot inherit HDB. Have to sell away.

There are not such thing as inherit temporarily.

NOTE:
1. CPF and HDB is the only 2 thing that WILL have no power on it.
2. The Intestate Succession Act does not apply to Muslims.
How do I sell the HDB away if I can't temporarily inherit it?
He will have to sell it before he leaves or give someone TPA to sell the house on his behalf (Not sure that can be done as the HDB has a lot of codicils). He might have to sell it before leaving and renting a room or selling it with the right to remain in the flat until he leaves. That would be the easiest method, I would think.
Life isn't about avoiding the bruises. It's about collecting the scars to prove we showed up for it!

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ProvenPracticalFlexible
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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by ProvenPracticalFlexible » Sat, 11 Sep 2021 4:54 pm

therat wrote:
Sat, 01 May 2021 5:54 pm

NOTE:
1. CPF and HDB is the only 2 thing that WILL have no power on it.
Where's that information from that will has no power on HDB?
As far as I can read HDB and inheritance advice you can have a will to define how you want to split your HDB.

But anyway in the OPs case it should be quite straightforward, the flat must be sold as he can't own it. But he'll get the money from sales after any remaining mortgage, stamp duties etc are covered. Similar situation if someone who already owns another HDB flat and inherits one.

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Re: Regarding CPF & HDB. Singaporean Father. Foreign Child.

Post by sundaymorningstaple » Sat, 11 Sep 2021 5:34 pm

This link will explain all your questions on an HDB flat. If you inherit said flat, you will have to be "eligible" under HDB rules to keep said flat. Or it will have to be sold on the open market or have HDB assist to dispose of the property. (This is covered in the link)

https://propseller.com/guides-insights/ ... ate-guide/

With regards to CPF.....

https://www.cpf.gov.sg/members/FAQ/sche ... id=2186243

https://www.youtube.com/watch?v=Y3XI20jYA3g
Life isn't about avoiding the bruises. It's about collecting the scars to prove we showed up for it!

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