[Ola]

When a joint owner does not inherit the property | The Straits Times

[sgbuffett]

Sorry can't read article.

I heard of 2 types of ownership

1. Joint ownership...one die the other take ownership.

2. Co ownership each own a %. One die his % ownership is split according to estate rules. Wife get half of deseased share  children get the other half etc.

Most couples will opt for joint ownership?...correct?

[Ola]

It noted that a surviving joint owner of a property does not have an automatic right to inherit the property if this is clearly not the intention of the other owner. This is especially so if the surviving joint owner did not pay anything for the share in the property.

[Notdumb]

Everything belongs to PAP lah.

[menghuii]

as i know
for hdb is clear as daylight.
joint owner has the claim

so i believe its pte properties that may hv this issue

[sgbuffett]

It noted that a surviving joint owner of a property does not have an automatic right to inherit the property if this is clearly not the intention of the other owner. This is especially so if the surviving joint owner did not pay anything for the share in the property.

I
But it's a bit strange...by agreeing to joint ownership doesn't the 2 parties agree for the other to take full ownership of property should one die?

Can this be unilaterally overridden by a separate will that carries intent of one party who made most of the payment?

Then the other party can be loaded out. Suppose in a family setting man is bread winner and woman Is housewife. Many promise wife the house through joint ownership then separate disinherited her through a will.....the woman contributed to the household doing housework for 30yrs.

Does seem fair as will can be hidden from spouse.

[[[ForeverAlone]]]

It noted that a surviving joint owner of a property does not have an automatic right to inherit the property if this is clearly not the intention of the other owner. This is especially so if the surviving joint owner did not pay anything for the share in the property.

huh I thought Joint owner means like this?
Anyone happen RIP AUTOMATIC another one also owner isn't since so call Joint owner. This is isn't same for JOINT Bank Account. Both party can access the account also do withdraw even without another person knowledge as this is a Joint owner.

[simpleman]

For the majority of HDB home owners, 99% of which bought their flats under Joint Tenancy manner of holding, as their matrimonial home to secure a roof over the head for their significant half in the event one spouse passes on.

The court of appeal's ruling put them at ease. Unless otherwise stated via a will, rest assured that the law of survivorship is there to guarantee your home.

[Huliwang]

huh I thought Joint owner means like this?
Anyone happen RIP AUTOMATIC another one also owner isn't since so call Joint owner. This is isn't same for JOINT Bank Account. Both party can access the account also do withdraw even without another person knowledge as this is a Joint owner.

Joint Account cannot. If one account holder dies without WILL on who takes over his account, the bank cannot release any money to the party still alive. If it is Joint Alternate Account, then the person alive can take out all the money.......

[[[ForeverAlone]]]

Joint Account cannot. If one account holder dies without WILL on who takes over his account, the bank cannot release any money to the party still alive. If it is Joint Alternate Account, then the person alive can take out all the money.......

Depend who? Let's say the account is the Son name with the parents? Don't tell me the Son cannot take the money left behind from the parents? Just like CPF, it is automatic will pass down to the kids when the parents RIP.

[Huliwang]

Depend who? Let's say the account is the Son name with the parents?

Cannot also. If want anyone party can take out money, then must open a Joint Alt Account. .......

[p1acebo]

Joint tenancy and tenancy in common. There is a difference

[[[ForeverAlone]]]

Cannot also. If want anyone party can take out money, then must open a Joint Alt Account. .......

Depend who right? Own kids cannot take out money ?? Joint with Parents???

if you prefer " joint with stranger or even come relatives " of course cannot but here I prefer own kids

[Huliwang]

Depend who right? Own kids cannot take out money ?? Joint with Parents???

if you prefer " joint with stranger or even come relatives " of course cannot but here I prefer own kids

Husband and wife also cannot. If Joint Account needs a Will. If you want as you say then open Joint Alt Account. Dun understand why you dun open Joint Alt but insist on Joint Account where I have checked with banks cannot already......

[simpleman]

The title of this thread is very misleading

"Joint owner does not inherit the unit" - is a distortion of the truth 

Joint owners do inherit the unit, except on specific instance of a written will that says otherwise, as ruled by the Court 

[[[ForeverAlone]]]

Husband and wife also cannot. If Joint Account needs a Will. If you want as you say then open Joint Alt Account. Dun understand why you dun open Joint Alt but insist on Joint Account where I have checked with banks cannot already......

Why I question in fact I have joint account with my Parents. I do can access the account via iBanking online it show that joint bank account with my personal account in the iBanking. I already do numerous transfer in between these two accounts no problem.

[Fleetdestroyer]

Simple pap will sanction hor

[Lukongsimi]

Need grant of probate to execute the will

[WhatDoYouThink?]

Why I question in fact I have joint account with my Parents. I do can access the account via iBanking online it show that joint bank account with my personal account in the iBanking. I already do numerous transfer in between these two accounts no problem.

uncle huli is trying to explain to u that there are two main types of joint accounts – joint-alternate account allows both parties to use the savings independently, but a joint-all account requires both parties to approve the transactions.

those that you hv shd be joint alternate

[Huliwang]

uncle huli is trying to explain to u that there are two main types of joint accounts – joint-alternate account allows both parties to use the savings independently, but a joint-all account requires both parties to approve the transactions.

those that you hv shd be joint alternate

Thanks for explaining to the bongkang......

[Lukongsimi]

uncle huli is trying to explain to u that there are two main types of joint accounts – joint-alternate account allows both parties to use the savings independently, but a joint-all account requires both parties to approve the transactions.

those that you hv shd be joint alternate

Didn't know got two types of joint account 😐