Joint Owner does not Inherit the unit

Joint Owner does not Inherit the unit - Printable Version

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Joint Owner does not Inherit the unit - Ola - 11-04-2022

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

RE: HDB Joint Owner does not Inherit the unit - sgbuffett - 11-04-2022

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?

RE: HDB Joint Owner does not Inherit the unit - Ola - 11-04-2022

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.

RE: HDB Joint Owner does not Inherit the unit - Notdumb - 11-04-2022

Everything belongs to PAP lah.

RE: HDB Joint Owner does not Inherit the unit - menghuii - 11-04-2022

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

RE: HDB Joint Owner does not Inherit the unit - sgbuffett - 11-04-2022

(11-04-2022, 06:01 PM)Ola Wrote: 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.

RE: HDB Joint Owner does not Inherit the unit - [[ForeverAlone]] - 11-04-2022

(11-04-2022, 06:01 PM)Ola Wrote: 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.

RE: HDB Joint Owner does not Inherit the unit - simpleman - 11-04-2022

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.

RE: HDB Joint Owner does not Inherit the unit - Huliwang - 11-04-2022

(11-04-2022, 06:35 PM)[[ForeverAlone]] Wrote: 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....... Rolleyes

RE: Joint Owner does not Inherit the unit - [[ForeverAlone]] - 11-04-2022

(11-04-2022, 06:48 PM)Huliwang Wrote: 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.

RE: Joint Owner does not Inherit the unit - Huliwang - 11-04-2022

(11-04-2022, 06:50 PM)[[ForeverAlone]] Wrote: 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. ....... Rolleyes

RE: Joint Owner does not Inherit the unit - p1acebo - 11-04-2022

Joint tenancy and tenancy in common. There is a difference Big Grin

RE: Joint Owner does not Inherit the unit - [[ForeverAlone]] - 11-04-2022

(11-04-2022, 06:51 PM)Huliwang Wrote: 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

RE: Joint Owner does not Inherit the unit - Huliwang - 11-04-2022

(11-04-2022, 06:54 PM)[[ForeverAlone]] Wrote: 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...... Rolleyes

RE: Joint Owner does not Inherit the unit - simpleman - 11-04-2022

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

[Image: Screenshot-20220411-200459.jpg]

RE: Joint Owner does not Inherit the unit - [[ForeverAlone]] - 11-04-2022

(11-04-2022, 07:02 PM)Huliwang Wrote: 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.

RE: Joint Owner does not Inherit the unit - Fleetdestroyer - 11-04-2022

Simple pap will sanction hor

RE: Joint Owner does not Inherit the unit - Lukongsimi - 11-04-2022

Need grant of probate to execute the will

RE: Joint Owner does not Inherit the unit - WhatDoYouThink? - 11-04-2022

(11-04-2022, 07:50 PM)[[ForeverAlone]] Wrote: 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

RE: Joint Owner does not Inherit the unit - Huliwang - 12-04-2022

(11-04-2022, 11:14 PM)WhatDoYouThink? Wrote: 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...... Big Grin

RE: Joint Owner does not Inherit the unit - Lukongsimi - 12-04-2022

(11-04-2022, 11:14 PM)WhatDoYouThink? Wrote: 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 😐