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 Lawyer's Corner v2, One-stop centre for any legal queries

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applepie111
post Mar 23 2012, 03:41 PM

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Hi DarioFoo,

Me and my husband bought a house about ten years ago. The house is still under loan and both S&P and also the house loan have both name. He already move out about 2 years and we in mist of divorce. He want his name to transfer to son. I think the lawyer might told him that he can't transfer due to son is only 7 years old. So he said he will transfer his share only when our son is 18 years old. And even his lawyer called me and said this to save the legal fees costs.

1) It is true that the house can't be transfer to a child below 18 years?
2) He refuse to transfer his share to me. What other options such as is there a property trust can be done? If yes, where to find such service?
3) If he decide not to transfer his share after a decade, can he do so if the divorce conditions stated that his share to be transfer to his son?
4) If the loan is settle in 5 years later, what need to be done after that, the house in both name? Have to wait till 11 years later then only can transfer?



applepie111
post Mar 24 2012, 11:57 PM

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QUOTE(dariofoo @ Mar 23 2012, 08:32 PM)
1. True. Under the Age of Majority Act 1971, a person only attains age of majority at 18. Until then, any property which is intended to be transferred in favour of the minor must be held by a trustee.

2. Deed of Trust. Lawyer can do it. I think will-writing companies provide such services as well.

3. The order can't state for it to be transferred to the son. It must appoint a trustee to hold it in trust on behalf of the son.

4. If cannot settle, have to wait. I can't see any other way.

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Can the order state that the father as trustee to hold on behalf of son? By then when the son turn 18 years it is the property will become his or still need to go throught lawyer for transfer? If he change his mind can he do so as trustee?

How much average charge the this deed of trust? Is it useful?

Thanks in advance for all your replies.


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