Asked by Anonymous
Hi Experts,
I have a 3rm bto joint tenant with my dad, flat is going to mop in nov 2022. My dad wants to buy over the flat but wants to do a transfer of ownership, he will pay my cpf and give cheque. What are the risk of doing this? My dad is not reliable and I’m afraid the cheque bounces and I do not get my share of the profits as I have been the one financing the loans. He has been bankrupt before.
Reason he is asking to sell is because of his health issues and want to hire a helper and needs the other room (1 room for him, 1 for helper). Basically telling me to sell my portion of the place. But I actually think he want to takeover my share and sell it after mop to earn some money.
Backstory: in 2017 my dad paid the initial amount for the hdb but after that it’s been using my cpf and monthly salary to pay off the loans.
I have a 3rm bto joint tenant with my dad, flat is going to mop in nov 2022. My dad wants to buy over the flat but wants to do a transfer of ownership, he will pay my cpf and give cheque. What are the risk of doing this? My dad is not reliable and I’m afraid the cheque bounces and I do not get my share of the profits as I have been the one financing the loans. He has been bankrupt before.
Reason he is asking to sell is because of his health issues and want to hire a helper and needs the other room (1 room for him, 1 for helper). Basically telling me to sell my portion of the place. But I actually think he want to takeover my share and sell it after mop to earn some money.
Backstory: in 2017 my dad paid the initial amount for the hdb but after that it’s been using my cpf and monthly salary to pay off the loans.
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