AN AGED couple from Taiwan have sued their son in the Singapore
High Court for the return of the title deeds of two condominium
apartments worth about $1.7 million.
In their lawsuit, Mr Yang Min-hao, 76, and Madam Yang Yuan
Hsiang-ying, 71, said they funded the $344,500 downpayment for the
flats but used their son's name as they were worried about not
being able to get a bank loan.
The couple, who live in Taipei, say that their son was merely
holding the properties and rental incomes from the flats in trust
for them.
Their son, Mr Yang Chuang-yang, 49, who has lived in Singapore
for more than 10 years, does not dispute he did not take part in
the property purchases. But he claims that his parents gave the
flats to him - an assertion the couple, who have five other
children, deny.
The three-day hearing, which started yesterday, revolves around
apartments in Parc Oasis in Jurong, bought in 1992, and Central
Green in Tiong Bahru, bought in 1993.
The couple arranged for their daughter, Ms Yang Sheng Cheng, who
was then living in Singapore, to buy the properties, telling her to
rent out the units and use the income to service the housing loan
instalments, property taxes and maintenance fees.
-- ST
