What happens when one fails to do proper financial planning?
One man in Singapore learned this the hard way, facing potential losses of $205,000 due to a series of puzzling decisions that unfolded during his divorce
In the beginning, there was a plan for the man's former wife's share of their Housing Board flat. Instead of using $205,000 borrowed from a female companion to pay off the HDB mortgage directly, the man deposited the entire sum into his wife's Central Provident Fund (CPF) account. The wife was instructed to use part of the funds to settle the loan, keeping around $80,000 for herself.
However, the plot thickens when the wife discovers her husband's involvement with another woman, leading to a divorce. Surprisingly, the husband did not pursue his claim on the flat during the divorce proceedings, resulting in the flat going entirely to the ex-wife.
#legaltings #singaporelaw #singaporecriminallaw
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