Statistics on HDB Studio Apartments Sold by Families upon Demise of Lessee

Debated in Parliament on 11 Jul 2016.

Summary written by AI (learn more)

Gan Thiam Poh inquired about the number of HDB Studio Apartments sold by families after the lessee's death since 1998 and whether sale proceeds were released to beneficiaries like children or relatives.
Lawrence Wong explained that Studio Apartments are leased for 30 years to seniors and cannot be resold on the open market, with the lease passing to the estate upon the lessee's death.
If eligible family members cannot continue living in the unit, HDB can take back the apartment and reimburse the residual lease value to the deceased's estate for distribution to beneficiaries.

Questions identified by AI (learn more)

Full Transcript

Gan Thiam Poh

Mr Gan Thiam Poh asked the Minister for National Development (a) since 1998, how many HDB Studio Apartments have so far been sold by the families upon the death of the lessee; and (b) whether the sale proceeds of the Studio Apartments have been released to the beneficiaries of a deceased's estate who are the children or relatives of the deceased.

Lawrence Wong

Studio Apartments (SAs) were sold on a 30-year lease to eligible senior citizens for occupation. SAs cannot be re-sold on the open market.

If the lessee passes away, the SA will be passed to the owner's estate. Family members, if eligible, can continue living in the SA for the remaining lease. Alternatively, the SA can be returned to HDB, and HDB will reimburse the residual lease value to the estate of the deceased owner.

Summary written by AI (learn more)

Gan Thiam Poh inquired about the number of HDB Studio Apartments sold by families after the lessee's death since 1998 and whether sale proceeds were released to beneficiaries like children or relatives.
Lawrence Wong explained that Studio Apartments are leased for 30 years to seniors and cannot be resold on the open market, with the lease passing to the estate upon the lessee's death.
If eligible family members cannot continue living in the unit, HDB can take back the apartment and reimburse the residual lease value to the deceased's estate for distribution to beneficiaries.

Questions identified by AI (learn more)

Statistics on HDB Studio Apartments Sold by Families upon Demise of Lessee | PAPERCUTS

Statistics on HDB Studio Apartments Sold by Families upon Demise of Lessee

Debated in Parliament on 11 Jul 2016.

Summary written by AI (learn more)

Gan Thiam Poh inquired about the number of HDB Studio Apartments sold by families after the lessee's death since 1998 and whether sale proceeds were released to beneficiaries like children or relatives.
Lawrence Wong explained that Studio Apartments are leased for 30 years to seniors and cannot be resold on the open market, with the lease passing to the estate upon the lessee's death.
If eligible family members cannot continue living in the unit, HDB can take back the apartment and reimburse the residual lease value to the deceased's estate for distribution to beneficiaries.

Questions identified by AI (learn more)

Full Transcript

Gan Thiam Poh

Lawrence Wong

Studio Apartments (SAs) were sold on a 30-year lease to eligible senior citizens for occupation. SAs cannot be re-sold on the open market.

Summary written by AI (learn more)

Gan Thiam Poh inquired about the number of HDB Studio Apartments sold by families after the lessee's death since 1998 and whether sale proceeds were released to beneficiaries like children or relatives.
Lawrence Wong explained that Studio Apartments are leased for 30 years to seniors and cannot be resold on the open market, with the lease passing to the estate upon the lessee's death.
If eligible family members cannot continue living in the unit, HDB can take back the apartment and reimburse the residual lease value to the deceased's estate for distribution to beneficiaries.

Questions identified by AI (learn more)

Statistics on HDB Studio Apartments Sold by Families upon Demise of Lessee

Summary

Questions Identified

Full Transcript

Gan Thiam Poh

Lawrence Wong

Summary

Questions Identified

Statistics on HDB Studio Apartments Sold by Families upon Demise of Lessee

Summary

Questions Identified

Full Transcript

Gan Thiam Poh

Lawrence Wong

Summary

Questions Identified