Asked by Annoymous
Hi,
We are keen on buying a bungalow lot in Melaka Tengah using my mum in law's name who is a bumiputera. Me and my wife are both Singaporean.
The questions are :
1)Can she get a bank loan considering she is not working and at the age of 66 years old ? Me or my wife can be her guarantor to service the loan. My mum in law is a Spore PR.
2)What will happen to the property if she passed away ? Will it automatically be transferred to my wife's name ? Or will it be legally suffice if we were to draft a separate ownership agreement ?
Appreciate the Guru clarification on these matters. Thank you.
We are keen on buying a bungalow lot in Melaka Tengah using my mum in law's name who is a bumiputera. Me and my wife are both Singaporean.
The questions are :
1)Can she get a bank loan considering she is not working and at the age of 66 years old ? Me or my wife can be her guarantor to service the loan. My mum in law is a Spore PR.
2)What will happen to the property if she passed away ? Will it automatically be transferred to my wife's name ? Or will it be legally suffice if we were to draft a separate ownership agreement ?
Appreciate the Guru clarification on these matters. Thank you.
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