What can co-owners do to protect interests in home? -Singapore

What can co-owners do to protect interests in home? -Singapore
Lie Chin Chin
Managing Director
Characterist LLC (incorporating Lie Kee Pong Partnership)
Q I AM 49 and single. I live with my parents, who are in their 70s, and my youngest sister in a three-storey terrace house bought in 1997.
The four of us bought the house for $904,000 under a tenants-in-common agreement. We each chipped in about $250,000.

The initial 20 per cent down payment of about $180,000 was paid by my parents.

At the time of purchase, my sister was unable to finance her full share of $250,000, so my parents paid $100,000 for her. Her total contribution was only about $150,000.

My sister and I each took up a 25-year loan of $60,000, using Central Provident Fund (CPF) monies. Combined, our outstanding loan commitments come to $95,000.

Now, my sister, who is 40, is getting married.

After her marriage, can she and her spouse move in with us against our wishes? If so, can the law protect the interests of both my parents and myself?

We have expressed our desire to buy out my sister’s share, but she has said no.

What legal options do my parents and I have? Are there any rights we can exercise to make her sell her share to us?

Selling the property is not an option.

A UNDER such a co-ownership arrangement, all four owners are entitled to the use and possession of the house, and none of you can claim a right to any separate part of it.

Thus, your sister can continue to live in the house after her marriage, but her husband, not being an owner, has no right of possession to any part of the house.

Your unequal contributions towards the purchase do not affect the equal rights of the four co-owners to use or possess the property.

One option is for the four owners to partition the property, allocating specific parts to each.

Agreement must be reached on the method to be used and other issues such as the title to the property and the adjustments of rights between the parties.

The agreement would also be subject to official approval under the Planning Act 1998.

Obviously, such a partition would be difficult to implement, especially if it is intended to allow at least two family units to live together in a terrace house.

If the parties cannot agree to a partition, any one of you can apply to the court to order a partition or to direct a sale of the property in lieu of partition.

The court might direct the property to be sold outright if this is more expedient. It could also order a sale where all the co-owners are free to bid for the shares of other co-owners.

You or your parents could propose buying over your sister’s share to the court.

If none of the co-owners is financially able or willing to take over the shares of other co-owners, then the court is likely to order that the property be sold in the open market and the proceeds divided among the co-owners in accordance with their entitlements.

Lie Chin Chin
Managing Director
Characterist LLC (incorporating Lie Kee Pong Partnership)

Source : Straits Times  - 13 Jan 2008

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$3m boost for developers of products for elderly -Singapore

$3m boost for developers of products for elderly -Singapore

New fund will provide seed money to design and test gadgets to help elderly cope with ageing
By Li Xueying
TEMASEK POLYTECHNIC STUDENT Kalarani Sathappah, 18, explaining to Mr Hairon Sheriff, 73, how this toilet bowl, which incorporates a bidet within its structure, can be useful for someone like him who suffers from nerve damage in his legs. It is one of many products created for senior citizens that are on display at the exhibition in Suntec convention centre.

DEVELOPERS of devices for elderly Singaporeans received a $3 million boost from the Government yesterday.
It has set up a new fund to give them seed money to design and test gadgets to help elderly Singaporeans cope with ageing.

The fund is part of the new Silver Community Test-Bed Programme announced by Community Development, Youth and Sports Minister Vivian Balakrishnan when he opened a fair yesterday at Suntec International Convention and Exhibition Centre. The two-day fair of products and services for the elderly is held in conjunction with the Silver Industry Conference and Exhibition (Sicex) that ends today.

At least two companies are already eyeing the fund. Electrical products manufacturer Eubiq wants to develop an electrical socket that sets off an alarm if it gets wet. Another is designing a wireless watch that transmits to a clinic or hospital the blood pressure of its wearer in real time.

But these ideas have to be approved by a committee chaired by the president of property developer Ascendas, Mr Chong Siak Ching. Ideas can be submitted now to the Ministry of Community Development, Youth and Sports and the committee will select the successful proposals by June. Each proposal can receive seed funding of up to $300,000.

The programme also provides for the products to be tested for two years by 10 HDB households, each with at least one elderly member.

One of the volunteers, retired cleaning supervisor Hairon Sheriff, 73, said what would be especially useful is a device that can remind him about food cooking on a stove. ‘Sometimes, I forget to turn off the stove and the food gets burnt,’ he said.

But retired clerk Jessie Leong, 68, is worried that the products, while useful, will be expensive. Dr Balakrishnan acknowledged the issue of costs, but said: ‘The prices will come down if the products are viable.”

The Government’s focus is on developing and adapting new ideas and technologies to local conditions and producing prototypes for HDB living, he said. ‘Once proven that they work, the products should no longer need subsidies.’

Medical device company HealthSTATS, which is developing the wireless watch that measures blood pressure, said the programmes will help it identify difficulties in using the device. ‘The scheme will also open doors to possible collaborations with other companies,” said its chief executive officer, Mr David Sim.

With one in five residents expected to be 65 years or older come 2030, Singapore recognises the silver industry’s business potential. A recent study indicates the consumer spending of Asia’s baby boomers, now in their 50s and 60s, will go up to US$616 billion (S$883 billion) in 2015.

A harbinger of things to come was the attendance at the fair yesterday. About 43,000 senior Singaporeans tried their hand at playing frisbee, and visited stalls offering vacations and insurance packages tailored for them.
Source : Straits Times  - 13 Jan 2008

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S’pore C class ward: Subsidy for all at least 65%

S’pore C class ward: Subsidy for all at least 65%

By Salma Khalik, Health Correspondent

PATIENTS hoping for a C class bed will not have to pay more than one-third of their hospital bills, no matter how well-off they are.
Health Minister Khaw Boon Wan gave this benchmark when asked how his means testing proposal, to make the rich pay more than the poor for hospitalisation, will work.

The current subsidy for a C class ward is 80 per cent, with patients footing the rest of the bill.

With means testing, all patients still have a choice of wards but, depending on income, they may not get the full subsidy.

Although the Government has given the assurance that very few people will be affected, there is still concern over the subsidy levels and how they will be pegged to patients’ incomes.

Mr Khaw told The Sunday Times that the patient’s portion of a C class bill will not exceed the 35 per cent now paid by patients in a B2 class ward. It might even be much less than that.

On average, the out-of-pocket hospital bill for a C class patient is less than $900 and, for a B2 class patient, just over $1,000.

Mr Khaw said that he is considering a ‘graduated reduction’ in subsidies, rather than a single cut-off point.

So, instead of jumping from an 80 per cent subsidy to 70 per cent one based on a certain income level, the differences in subsidy may amount to no more than one or two percentage points.

This is to make sure that the patients who miss the income cut-off by a few hundred dollars will not be hit too hard.

Said Mr Khaw: ‘I can make very small jumps. I can reduce the subsidy to 79 per cent, 78, whatever.’

But small differences in subsidy are only possible if income is determined simply and electronically. Hospitals will need the patients’ consent to check their income records with the Central Provident Fund Board or the tax department.

Privacy will be protected, as the information on actual salary amounts will not be needed. Hospitals need to know only if a patient’s salary falls within a certain range. Those who want to keep this private can simply opt to receive the lowest subsidy for that ward class.

Mr Khaw said that the objective of the exercise ‘is not to squeeze everybody’ but to get them ‘to accept the principle’.

He added: ‘We could have said, if you are considered middle income or high income, you are not allowed to come in, or you come in but zero subsidy.

‘We’re not saying that. We are saying - and it’s a commitment - that you will continue to be heavily subsidised.

‘But, please, make a distinction between you and the very poor, so that I can stretch the subvention, so that I can benefit more people.’

The minister also promised that, rich or poor, patients from subsidised wards will enjoy subsidised outpatient treatment upon discharge.

Many well-off patients with chronic illnesses such as diabetes choose to stay in subsidised wards because it will mean cheaper follow-up care.

This will continue, he said.
Source : Straits Times  - 13 Jan 2008

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Singapore Students have many opportunities to move up educational ladder: PM Lee

Singapore Students have many opportunities to move up educational ladder: PM Lee

By Hasnita Majid, Channel NewsAsia | Posted: 12 January 2008 2148 hrs
SINGAPORE : Prime Minister Lee Hsien Loong says there are many opportunities for students to move up the educational ladder.

All they need to do is to work hard and the rest will be taken care of.

And scholarships and bursaries are ways to help them level up.

Education is one of the government’s key programmes to ensure that as Singapore moves forward, its people can also upgrade themselves.

Speaking at the Teck Ghee Citizen’s Consultative Committee Bursary and Scholarship awards presentation ceremony on Saturday, Mr Lee says every school has some special skills, whether it’s the arts, music or sports.

And every student who excel in any of these areas can go to the best schools, regardless of which primary school they are from.

Mr Lee says: “If you have talent, cultivate it, work at it, do well and move up. And it can be through many ways, it can be through the Normal stream, through Normal Technical, you can go via the ITE, polytechnic or the university. But do well and after that more doors will open up for you. In Singapore, the chances are there, the openings are there, the encouragement is there, what we need is the students to work hard.”

He adds that Singapore has everything in place to help a student reach his fullest potential with its good schools, good facilities and good teachers who must be amply rewarded, to show them that their efforts are valued and respected.

Mr Lee says: “(That is) why recently we had the salary revisions for the teachers to make sure that it keeps up with the rest of society and make sure that amongst the teachers, the one who works hardest and do the most gets recognised. Teachers have to teach because it’s in their heart, the love for teaching, the love for the pupils. but at the same time if you don’t treat them well, it’s difficult to continue and the system will break down.”

On the government’s part, it will make sure that more children will have the opportunity to fulfil their potential by rewarding them with scholarships and bursaries.

Students say they will heed that call.

Nurazlin Noor, Scholarship Recipient, says: “I am aiming for university too so that they can’t look (down) on Normal Tech students. They think that Normal Tech is not so suitable to go to university, so I’m trying to tell the world that Normal Tech students can do what they want to do.”

Tjong Wei Hui, Scholarship Recipient, says: “I think it will be very fair to those who are poor. It doesn’t mean that those rich people can get to study. Those who are poor can also have the chance to study.

M Keerthana, Scholarship Recipient, says: “I’m going to use it to buy books and field trips and stuff.”

About 900 students received the scholarship and bursary awards this year.

Organisers say that it’s the highest number so far and hope that the awards will continue to motivate students to excel in their studies, as well as help them tide over the new school year.

About 438 students received the Teck Ghee bursary awards.

Another 186 received the Edusave Scholarship awards while another 292, the Edusave Merit Bursary. - CNA/ch

Source : Channel NewsAsia  - 13 Jan 2008

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Singapore Govt launches S$3m programme to develop age-friendly products

Singapore Govt launches S$3m programme to develop age-friendly products

By Julia Ng
The Government wants to help Singapore companies and inventors tap into the fast-growing global silver market.

To do that, a S$3 million Silver Community Test Bed Programme was launched on Saturday to encourage industry players to market-test their products in households with elderly persons.

The programme was launched by Community Development, Youth and Sports Minister, Dr Vivian Balakrishnan at the Silver Industry Conference and Exhibition at Suntec Convention Centre.

Singapore wants to create a barrier-free environment for the elderly to retire in and one way to do so is by leveraging on technology to help seniors live independently at home.

The Silver Community Test-Bed Programme will encourage companies and inventors to develop products for senior citizens.

Successful applicants could receive seed funding that covers 30 to 80 percent of the cost incurred, up to a cap of S$300,000 per product.

The programme aims to encourage inventors to test new prototypes, and for existing commercial products to customise to the needs of the elderly.

Over time this will help to build up the silver industry to cater to a growing pool of elderly in Singapore and in the region.

Ten volunteer households with at least one elderly person, living in a studio apartment, or 3- to 5-room HDB flats, will help test the products under the programme.

Dr Balakrishnan says: “What we’re focusing our efforts on is in the development of new ideas, new technologies, in adapting them to local conditions and prototyping them in a local HDB context. So this is a process of co-discovery and co-evolution which I believe that Singapore is well-placed to lead in the world. We have a population that’s very practical and pragmatic.

“We have a good set of research institutions with deep capabilities and we also have businesses which are able to sense business opportunities and to go grab it. In the Singapore context, I can say if you can prove that something works in Singapore, and it’s got the Singapore brand name of reliability, I think we’ll be able to come up with marketable products which we can export and to the rest of the world.”

One company that is keen to apply for the funding is Eubiq.

The Singapore company is started by a group of local designers which came up with a power track that allows you to plug in at any point instead of being confined to fixed power points.

The company says it is new to the silver market.

But the grant would give it incentive to look into designing movement sensors and lighting devices to make the home safer for the elderly.

Ng Joo Kok, Director of Global Business, Eubiq, says: “A lot of times old people fall down becomes there’s not enough light, and near the toilets it’s wet. There’re night lights available but they’re often found in the wrong places. So if the tracks run around the house then where you light the lights it’s always at the right place!”

While most of the elderly volunteers welcome such innovations, they worry about the costs of such products.

Hairon bin Sherif, 73-year-old Volunteer for Test Bed Programme, says: “I like the bidet because I’m old and I cannot do anything. Just press the button and it does all on its own. Good that they put it in your house to try. But I worry it’s very expensive, no money to buy.”

Dr Balakrishnan says: “The real way to reduce the cost is to have volume production. Once we know what works, what doesn’t work - the things that work, you ramp up the production and you get economies of scale and the cost will come down.”

The Minister says there is a real ’silver economy’ with growth prospects.

And by tapping into it early, senior citizens in the future can look forward to the right mix of products to help them stay active and independent. - CNA/ch
Source : Channel NewsAsia  - 13 Jan 2008

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Singaporeans need to boost their investment literacy: financial expert-Singapore

Singaporeans need to boost their investment literacy: financial expert-Singapore

By Julia Ng,
SINGAPORE : Community Development Minister Dr Vivian Balakrishnan says Singaporeans lack financial and investment knowledge.

And he says this is one area the Ministry will have to focus on - which a financial planning expert agrees.

Thousands of senior citizens and their families thronged the inaugural Silver Industry Exhibition.

Many came to check out innovative products and services that cater specially for the silver-haired.

Some also took opportunity to find out if they are ‘retirement ready’.

Dr Balakrishnan, who opened the exhibition, says the huge turnout is a good sign that Singaporeans recognise that ageing is an important area worth paying attention to and investing in.

But retirement financial planning is one large area which he feels Singaporeans could brush up on.

He says: “The level of financial knowledge in Singapore is still inadequate. So I’m also glad that we also have several booths in this exhibition which will hopefully give more information to people so that they can make informed choices.

“Or if they don’t have enough knowledge on their own at least they know where to go for help, who to ask, who to rely on for financial advice - so this is another large area which we in the Ministry will have to focus on - which is to increase the level of fiscal and financial understanding and knowledge in Singapore.”

One expert in financial planning says Singaporeans need to make their CPF savings work harder by keeping a sensibly diversified portfolio of investments.

Arun Abey, Head of Strategy, AXA Asia Pacific Holdings, Australia, says: “The CPF scheme in Singapore has been a marvellous innovation and periodically it’s been adapted and modified and those modifications are good. What Singaporeans need to understand is that they cannot simply rely on CPF.

“Nor should they be looking to the government to bail them out. We need to take more personal responsibility for the quality of our retirement - so we need to supplement CPF savings one, and secondly, we need to make our CPF savings and other sources of savings work much harder.”

Mr Arun says if Singaporeans could capture from their CPF savings an additional 5 percent return - over and above the inflation rate, when compounded over a working lifetime, even an average worker could be a million dollars richer at retirement!

He adds: “An extra million dollars in their retirement fund. That makes a lot of difference - just an extra 5 percent by investing in a globally-diversified portfolio shares, rather than keep it in cash. That’s what we need to learn!”

The key is to start early, plan long term, and invest more in equities but Singaporeans tend to be risk-averse.

So learning how to invest smartly, is what makes the difference between a million-dollar retirement, and one spent worrying about funding the golden years. - CNA/ch
Source : Channel NewsAsia  - 13 Jan 2008

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Government unveils more assistance for needy families in S’pore

Government unveils more assistance for needy families in S’pore

By Lynda Hong

Mrs Yu-Foo Yee Shoon

SINGAPORE : The Government has unveiled yet another programme to help needy families.

The move comes just days after the government said it was putting more money into the ComCare Fund to help needy Singaporeans cope with rising inflation.

Under the latest initiative, the Community Development, Youth and Sports Ministry (MCYS) will set up a supervisory committee for its ComCare programme that will review genuine needy cases that do not fit the criteria of existing financial assistance schemes.

The new ComCare Supervisory Committee is to make the social assistance system more flexible.

Minister of State for Community Development, Youth And Sports, Mrs Yu-Foo Yee Shoon says from this month, the committee will also be helping to review appeals cases.

These are cases that have been rejected by the Community Development Councils, or CDCs, but genuinely need help.

Mrs Yu-Foo says: “The ComCare supervisory committee, which is under MCYS, will have members who are Mayors, Members of Parliament and some members of Voluntary Welfare Organisations. So from this month onwards, we are going to consider those cases, rejected by CDC. If the CDC felt that they are deserving cases, but based on the present criteria, they do not qualify for any assistance, we want to have flexibility to look at these marginal cases, on a case-by-case basis.”

The Supervisory Committee is set up, despite a drop in the number of cases helped by the ComCare schemes, which Mrs Yu-Foo attributes to a booming economy and more jobs for Singapore.

For the first three quarters of last year, the ComCare Fund has helped 16,500 cases, down slightly from 17,000 for the same period in 2006.

Down too are the number of children not attending preschool.

From February to December last year, the numbers fell from 5 per cent to 3 per cent, a result of outreach efforts by the Ministry and grassroots organisations. - CNA/ch

Source : Channel NewsAsia  - 13 Jan 2008

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Training to help raise heart attack survival rates in commercial bldgs

Training to help raise heart attack survival rates in commercial bldgs

By Lynda Hong

SINGAPORE : More can be done to save those from a heart attack, says Dr Vivian Balakrishnan.

The Community Development, Youth and Sports minister noted that at least 800 people collapse suddenly from a heart attack every year.

Out of this, more than 60 collapsed in commercial buildings like shopping malls and hotels.

Overall, he said the survival rate of those who collapsed is only two percent.

But in communities where bystanders know and provide CPR and an Automated External Defibrillator is used within minutes to restore a normal heart beat, survival rates can exceed 75 percent.

So to increase the survival rate, an awareness campaign was launched by SCDF and its partners the National Resuscitation Council and Singapore Heart Foundation.

More than 100 commercial building owners have pledged to send their staff for training and to equip their premises with the life-saving device. - CNA /ls
Source : Channel NewsAsia  - 13 Jan 2008

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