Loans between husband and wife in Singapore are common. Many couples who are happily married do not mind lending money to each other. What if they end up getting separated or divorced?
Recently, a woman (Z) wrote to the “Dear Troubleshooter” relationship advice column in The Japan Times.
First loan
The woman lent money to the man she liked. Both of them are of the same age and she used to be his subordinate at work. The man was later transferred. Out of a sudden, he called and requested that she lent him S$2,500. Z lent him the money.
Second loan
A month later, the man told Z that he was breaking up with his girlfriend. He borrowed S$1,875 from Z and Z lent him the money.
Third loan
The man borrowed from Z again shortly after, which Z acceded to again.
In total, Z loaned the man about S$5,625, without any IOU. Z trusted him.
Z is aware that the man is not being truthful but she cannot help lending him the money. She still keeps in touch with him and even wrote a letter professing her love for him. However, she knows that he does not share the same admiration for her.
Troubleshooter’s response
The troubleshooter advise Z to tell the man that he is in the wrong.
See: Tatsuro Dekune, “’I loaned the man I love money to repay his ex-girlfriend but he didn’t return it’”, The Japan Times/ ANN, 4 February 2017
Loans between husband and wife in Singapore
What happen to loans between husband and wife in Singapore?
Most of the time, loans between husband and wife in Singapore are “informal loans”. There is no physical record (such as IOU) of such loans. However, proven loans between husband and wife in Singapore can potentially lead to the lending party gaining a higher percentage of the matrimonial assets. For instance, if one party were to loan the other party a sum of money for his/ her business, the giving of assistance will be taken into account in the division of matrimonial assets.
See: Section 112 of Women’s Charter (Singapore)
For more information on loans between husband and wife in Singapore, please contact us today.
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