Asked by Anonymous
I would like to seek some advice on the following:-
Property is jointly-owned by my mother, brother and myself. All of us withdrew from EPF to purchase this house. The S&P is under 3 names but the LACA is under my name and my brother's.
I am not working and contribute a small monthly amount towards the loan instalments. My brother lives in this house and pays the rest of the instalments.
How do i go about calculating what is due to me as i'd like to terminate my ownership as well as loan responsibilities towards this property? Will it be the total amount invested by me plus the proportionate appreciation value of the property to-date? Is there any calculation formula for this?
Also, how do i go about removing my name from the S&P and LACA?
Thank you.
Property is jointly-owned by my mother, brother and myself. All of us withdrew from EPF to purchase this house. The S&P is under 3 names but the LACA is under my name and my brother's.
I am not working and contribute a small monthly amount towards the loan instalments. My brother lives in this house and pays the rest of the instalments.
How do i go about calculating what is due to me as i'd like to terminate my ownership as well as loan responsibilities towards this property? Will it be the total amount invested by me plus the proportionate appreciation value of the property to-date? Is there any calculation formula for this?
Also, how do i go about removing my name from the S&P and LACA?
Thank you.
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