Under a Joint Tenancy arrangement, all co-owners have an equal share of the property. One of the key features of joint tenancy is the right of survivorship, which means that if one co-owner passes away, their share of the property automatically passes to the surviving co-owners.

Benefits of Joint Tenancy

Joint Tenancy is often preferred by married couples and close family members because it simplifies the transfer of ownership upon the death of one co-owner. This arrangement avoids the need for probate and ensures that the surviving co-owners can continue to manage the property without legal complications.

Tenancy-in-Common

In a Tenancy-in-Common arrangement, each co-owner holds a specific share of the property, which can be equal or unequal. Unlike joint tenancy, there is no right of survivorship, so each co-owner’s share can be bequeathed to beneficiaries through a will.

Benefits of Tenancy-in-Common

Tenancy-in-Common provides flexibility for co-owners who want to specify their share of ownership and allows for more complex estate planning. This arrangement is often chosen by business partners, friends, or family members who want to maintain control over their share of the property.

How to Check HDB Manner of Holding

Checking the manner of holding for your HDB flat is a straightforward process, but it’s essential to follow the correct steps and understand the implications of each type. Here’s how you can check the manner of holding for your HDB flat.

Step 1: Accessing HDB’s My HDBPage

The first step in checking the manner of holding is to log in to the HDB’s My HDBPage. This online portal provides access to various property-related services and information.

Case Study 1: Accessing My HDBPage

Mr. Lim wanted to check the manner of holding for his newly purchased HDB flat. He logged into My HDBPage using his SingPass and navigated to the “My Flat” section. There, he found detailed information about his property, including the manner of holding. This case highlights the ease and convenience of using My HDBPage for property management.

Step 2: Navigating to Property Details

Once logged in, navigate to the “My Flat” section and select “Flat Details.” Here, you will find comprehensive information about your HDB flat, including the manner of holding.

Step 3: Understanding the Information

In the “Flat Details” section, you will see the manner of holding listed as either Joint Tenancy or Tenancy-in-Common. It’s important to understand what this means for your property ownership and future planning.

Case Study 2: Understanding Manner of Holding

Mrs. Tan discovered that her HDB flat was held under Joint Tenancy with her husband. Knowing this, she felt assured that the property would automatically pass to her in the event of her husband’s death. This case underscores the importance of understanding the manner of holding for estate planning.