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Tenancy-in-common. Under tenancy-in-common, each co-owner holds a separate and distinct share in the flat. The right of survivorship does not apply. Upon the demise of a co-owner, his/her interest in the flat will be distributed according to his/her Will (if any).
Apr 19, 2022 · After making a declaration of your flat’s market value in HDB’s Application Form (mentioned in the next paragraph), you can also convert your manner of holding from tenancy-in-common in unequal shares to joint tenancy and vice versa, or change the proportion of the shares in the tenancy-in-common.
For tenancy-in-common, the shares of ownership of the flat must be in fractions of the same denominator and must add up to one. You can either appoint your own solicitors to act for you or you can engage HDB to handle the transaction.
Nov 14, 2022 · Tenancy in common is a suitable form of home ownership for unrelated parties engaging in crowd funding or shared financing of properties. Given the strict eligibility requirements for HDB home ownership, joint tenancy may be the more popular form of home ownership among HDB owners.
Jun 18, 2024 · What Is Tenancy-In-Common HDB? 2 Main Financial Considerations And Implications For Property Owners. 1. Impact On Mortgages And Loans. 2. Tax Implications And Potential Benefits. Decoupling In HDB Ownership: What You Didn’t Know About Moving From Joint Tenancy To Tenancy-In-Common.
May 9, 2024 · If you’re a joint tenant, the good news is that you can switch the manner of holding from a joint tenancy to a tenancy-in-common and vice versa. This is quite easily done for private properties, but for HDB flats, you will need assistance from the HDB.
Should you hold your HDB or property in Joint Tenancy or Tenancy-in-Common? Which is better? This article takes you through both methods and will help you evaluate which of the two suits your needs.
