Annulment Singapore HDB- What will happen to your HDB flat if you annul your marriage?
This is one of the top concerns of many of my clients who annul their marriage.
Many Singaporean men propose with the question: “Do you want to apply for a BTO together?”
It takes an average of 3 to 4 years before a couple gets the key to their Build-To-Order (BTO) flat in Singapore. With the long wait, many couples are planning ahead.
Though there are new measures, such as a new batch of BTO flats with a wait of 2.5 years and the Parenthood Provisional Housing Scheme (where families can rent units while waiting for their HDB flats to be completed), many young couples still prefer to apply for a HDB BTO flat in advance under the Fiance/ Fiancee scheme. Over the last 5 years, an average of 6,500 applicants who apply for new HDB BTO flats are aged 25 and below. Some even start when they are still in school.
Under the HDB Fiance/ Fiancee scheme, couples have 3 months upon getting the key to the flat to register their marriage if they have received HDB grants.
Annulment Singapore HDB- what will happen if they break up?
The downpayment would be forfeited. Some couples like Amanda Seow, 25, and her boyfriend, 27, agreed to split the cost of the forfeiture equally.
See: Cara Wong, “BTO first, propose later: Young couples don’t regret applying for flat first”, The Straits Times, 4 June 2017
Annulment Singapore HDB
If either of your parents is listed as an applicant, you can retain the flat. Otherwise, you may have to surrender the flat.
In general, after the annulment of marriage, neither party is allowed to retain the HDB flat. If both parties are not eligible to retain the flat, the flat may have to be surrendered to HDB at the prevailing compensating price.
For more information on annulment Singapore HDB, contact us today!