For the motorbike accident case, isn't majority of Singaporean
get loan of some kinds like HDB or banks etc to buy flat since
nowadays it is never possible to pay full amount for flat. Let
just said for example the husband had share his wife name on
the flat as her husband passed away, do she have to carry the
burden for the flat's loan ?
As for that SAF officer, is his debt "cleared"
by his insurance after his death? Otherwise if his
debtors are like banks etc, I think most of his asset like even his
property might be "confiscated" as part of his payment.
For me and my wife, 1987 when we bought the 4S room flat, we bought
it with HDB 25 years loan scheme. During that time, we cannot buy
the flat from bank loan. Anyway, during that time also HDB flat
owners were disallowed to use their flats as collateral to the
banks or mortgage it to the bank. It was strictly prohabited by
MND. When me and my wife bought our flat, the life and fire
insurance plan was automatic, it was included within the purchase
agreement with HDB. So, what we were told was that should death
occurred to me or to my wife, the flat would be regarded fully
paid. As for the SAF officer, the 5 rooms flat in the point block
apartment at Normanton Park was actually the government quarters
for SAF officers in the past. I guess he had calculated that with
his death, all his debts would be fully settled.
