ITS ALREADY SOLD :)
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Your sister's situation requires careful consideration due to the complexities of marital assets and CPF usage during divorce in Singapore. Here's a breakdown of some key points:
Repaying CPF and Flat Ownership:
Shared Ownership: Assuming they bought the flat with CPF used by both, they likely co-own the flat.
Repaying CPF Doesn't Transfer Ownership: Even if your sister receives cash from her husband to repay her CPF used for the flat, it doesn't necessarily transfer her ownership share to him. Ownership remains as per the initial purchase agreement (likely 50/50 if both used CPF).
Selling the Flat During Separation:
Court Order Required: Selling the flat during separation requires a court order, especially if they cannot reach a mutual agreement.
Division of Proceeds: The court will consider various factors when dividing the sale proceeds, including:
Initial CPF contributions by each spouse
Any outstanding housing loan amount
Any specific agreements between them regarding ownership
Demanding Half the Proceeds:
Potential for Half: If they co-own the flat 50/50, your sister could potentially receive half the proceeds after deducting any outstanding loan and considering CPF contributions.
Court's Decision: Ultimately, the court will determine the division of proceeds based on the presented evidence and applicable laws.
Recommendations:
Do Not Rush Decisions: Repaying CPF with cash and selling the flat during separation are significant financial decisions. Your sister should avoid rushing into anything.
Consult a Lawyer: It's crucial for your sister to consult a qualified lawyer specializing in family law and CPF matters. They can provide specific guidance considering their unique situation and help navigate the legalities involved in separation and asset division.
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