View Full Version : Stamp duty reimbursement from CPF
auroraborealis
13-10-12, 09:25
Is it true that stamp duty reimbursement can only be effected
after the 40% cash paid and at the start of the CPF monthly instalments being paid if the bank loan LTV is 60%?
"CPF Board will not release or reimburse stamp duty unless at least there is a lump sum release or CPF release for monthly instalments, which in this case, there is no lumpsum release." Is this true?
I thought can apply to CPF for reimbursement after paying in cash? How come need to wait till all 40% is paid?
Is it true that stamp duty reimbursement can only be effected
after the 40% cash paid and at the start of the CPF monthly instalments being paid if the bank loan LTV is 60%?
"CPF Board will not release or reimburse stamp duty unless at least there is a lump sum release or CPF release for monthly instalments, which in this case, there is no lumpsum release." Is this true?
I thought can apply to CPF for reimbursement after paying in cash? How come need to wait till all 40% is paid?
Previously, I have this problem too. My agent told me that I can reimburse the stamp duty from my CPF, but I waited for so long, still no reimbursemenet, so I checked with my lawyer and she told me that CPF interest rate is higher while the saving account interest rate is lower, so it is advisable not to reimburse unless you will be using your saving to generate higher interest but if I still want to reimburse from the CPF, do it before TOP. So I think it is better to check with your lawyer who handled your house.
auroraborealis
13-10-12, 09:46
Actually the motivation came from the increasing minimum sum each year so more & more CPF monies is untouchable.
Our concern is that lawyer forgot to apply for us and just gave an excuse. In a prior transaction, we had no problem getting CPF to reimburse stamp duty prior to loan drawdown. Then, LTV was 70%. Tried to search the web for this rule but nothing came up =(
Previously, I have this problem too. My agent told me that I can reimburse the stamp duty from my CPF, but I waited for so long, still no reimbursemenet, so I checked with my lawyer and she told me that CPF interest rate is higher while the saving account interest rate is lower, so it is advisable not to reimburse unless you will be using your saving to generate higher interest but if I still want to reimburse from the CPF, do it before TOP. So I think it is better to check with your lawyer who handled your house.
Actually the motivation came from the increasing minimum sum each year so more & more CPF monies is untouchable.
Our concern is that lawyer forgot to apply for us and just gave an excuse. In a prior transaction, we had no problem getting CPF to reimburse stamp duty prior to loan drawdown. Then, LTV was 70%. Tried to search the web for this rule but nothing came up =(
Hi Auroraborelis, regarding ur question above, it is true that you have to exhaust all the cash component before utilising your CPF monies (including stamp duty rebates). Hence in your case, you will have to wait for your development (if BUC) to fully hit 40% and when bank loan has start to disburse before be able to utilise ur CPF.
Hi Auroraborelis, regarding ur question above, it is true that you have to exhaust all the cash component before utilising your CPF monies (including stamp duty rebates). Hence in your case, you will have to wait for your development (if BUC) to fully hit 40% and when bank loan has start to disburse before be able to utilise ur CPF.
I was thinking whether should I ask for reimbursement or not as my bank has already released the 1st disbursement. Any advise?
I was thinking whether should I ask for reimbursement or not as my bank has already released the 1st disbursement. Any advise?
Hi Irisng, I know of many parents when they hit a certain age and have no good use for excess money, "investing" in CPF @ 2.5% returns seems pretty good to them. However personally i'm against it. Well maybe because im younger and i would take the time to invest in other investment vehicles generating more than 2.5% rather than locking it up into my OA SA and MS. Hence yep, I would ask for a reimbursement. :) Take the money, bring ur kids for a holiday or smth?
Now this is something entirely new to me.... means for those projects bought with cpf and offering stamp duty reimbursements is it? and where u used cpf to pay upfront first the stamp duty?
Now this is something entirely new to me.... means for those projects bought with cpf and offering stamp duty reimbursements is it? and where u used cpf to pay upfront first the stamp duty?
uncle, u can never use CPF to pay SD upfront. You always have to pay SD with cash then subsequent to that you'll ask for a reimbursement from the CPF board. That can only happen after the CPF/Cash component is exhaust.
Seems like uncle is a cash rich person. Havent been paying with your CPF for awhile now?
Hi Irisng, I know of many parents when they hit a certain age and have no good use for excess money, "investing" in CPF @ 2.5% returns seems pretty good to them. However personally i'm against it. Well maybe because im younger and i would take the time to invest in other investment vehicles generating more than 2.5% rather than locking it up into my OA SA and MS. Hence yep, I would ask for a reimbursement. :) Take the money, bring ur kids for a holiday or smth?
Thank you for your advise. I was thinking for the reimbursement too especially when auroraborealis mentioned about the increase in min sum that strike my mind.
Thank you for your advise. I was thinking for the reimbursement too especially when auroraborealis mentioned about the increase in min sum that strike my mind.
Yea, it's not worth it. only OA part could be utilise to pay off or refinance ur loans. other parts are just gonna be locked up! If you take that into consideration, the money which could be used makes the 2.5% less attractive! :)
uncle, u can never use CPF to pay SD upfront. You always have to pay SD with cash then subsequent to that you'll ask for a reimbursement from the CPF board. That can only happen after the CPF/Cash component is exhaust.
Seems like uncle is a cash rich person. Havent been paying with your CPF for awhile now?
when I was still using cpf for investment purposes I think u were still drinking from milk bottle... kekeke long ago 空空liao
when I was still using cpf for investment purposes I think u were still drinking from milk bottle... kekeke long ago 空空liao
hahaha thats true actually. I'm glad my OA is 空空l now too :cheers5:
Yea, it's not worth it. only OA part could be utilise to pay off or refinance ur loans. other parts are just gonna be locked up! If you take that into consideration, the money which could be used makes the 2.5% less attractive! :)
Okay, I'll call my lawyer for the reimbursment on Monday. In fact, I did state that I want reimbusement from CPF when signing the S&A but don't know why, they never follow my instruction till I call them about the reimbursement, then they told me about the interest rate.:doh:
auroraborealis
13-10-12, 11:30
Hi price, what is this "cpf/cash" component rule actually? Don't quite get it
uncle, u can never use CPF to pay SD upfront. You always have to pay SD with cash then subsequent to that you'll ask for a reimbursement from the CPF board. That can only happen after the CPF/Cash component is exhaust.
Seems like uncle is a cash rich person. Havent been paying with your CPF for awhile now?
auroraborealis
13-10-12, 11:33
Yah... I think lawyers very reluctant to do cpf paper work. In your case, I think they'll charge u processing fee of $200. I think I'll end up like you. They die die refuse to apply... Then turn around n charge extra!!!
Okay, I'll call my lawyer for the reimbursment on Monday. In fact, I did state that I want reimbusement from CPF when signing the S&A but don't know why, they never follow my instruction till I call them about the reimbursement, then they told me about the interest rate.:doh:
Lawyers are quite a problem nowadays.
Where to go to complain against them?
auroraborealis
13-10-12, 11:36
Actually, I transferred my cpf to get all all min sum in SA. Since min sum can't touch until retirement, n is retirement monies shld earn higher rate. Some friends think not worth to lock up in SA cos can't use for housing... But since subjected to min sum anyway... No diff to us whether in OA or SA
hahaha thats true actually. I'm glad my OA is 空空l now too :cheers5:
Yah... I think lawyers very reluctant to do cpf paper work. In your case, I think they'll charge u processing fee of $200. I think I'll end up like you. They die die refuse to apply... Then turn around n charge extra!!!
But they never tell me about the charges leh. When signing the S&A, she skipped that CPF reimbursement portion, luckily before that, my agent told me that I can reimburse back my SD, so I pointed out to my lawyer that I wanted to reimburse my SD, so no choice lor, she had to tick on the box. I will check with them on Monday to see any extra charges.
Hi price, what is this "cpf/cash" component rule actually? Don't quite get it
if u buy a one mil property, taking 500k loan 100k cpf 400k cash, cpf can be used only when u exhaust cash component of 400k. same for sd portion
The relevant CPF clause that support Price's comment which was what my lawyer told me as well:
10.OTHER CONDITIONS FOR USE OF CPF SAVINGS a)The amounts approved for withdrawal can only be released when all the necessary documents required by the Board have been executed and the difference between the purchase price and the aggregate of the loan (if any) and CPF lumpsum approved for payment of the purchase price has been paid with the member's own funds.
http://mycpf.cpf.gov.sg/Members/Gen-Info/FAQ/Housing/RpsTermsAndCond.ht
Based on this clause, withdrawal of CPF for Stamp duties can be done only after member's own funds to cover difference fully exhausted.
The relevant CPF clause that support Price's comment which was what my lawyer told me as well:
10.OTHER CONDITIONS FOR USE OF CPF SAVINGS a)The amounts approved for withdrawal can only be released when all the necessary documents required by the Board have been executed and the difference between the purchase price and the aggregate of the loan (if any) and CPF lumpsum approved for payment of the purchase price has been paid with the member's own funds.
http://mycpf.cpf.gov.sg/Members/Gen-Info/FAQ/Housing/RpsTermsAndCond.ht
Based on this clause, withdrawal of CPF for Stamp duties can be done only after member's own funds to cover difference fully exhausted.
Thanks Gadiny, i guess everyone will have a clearer understanding now :D:cheers5:
Hi price, no probelm:) . I learnt a lot from this forum as well.
To add, the 'CPF lumpsum approved for payment' is what you have currently in your OA at point when submission to CPF for withdrawal approval is made. Do not include future contributions.
Hope this clarifies. Cheers!
auroraborealis
13-10-12, 18:59
Thanks all for the helpful explanations =)
We thought hard & finally managed recalled that:
The 1st time we applied only stamp duty refund from cpf w/o applying any monthly/lump sum. Thus the stamp duty reimbursement came thru. Subsequently, we decided to apply lump sum & monthly as well, thus incurring additional legal fee.
This time round we applied all at one go. Thus, caught under the above rule. Nt sure good or bad... Just have to live with it
Hi price, no probelm:) . I learnt a lot from this forum as well.
To add, the 'CPF lumpsum approved for payment' is what you have currently in your OA at point when submission to CPF for withdrawal approval is made. Do not include future contributions.
Hope this clarifies. Cheers!
Just wondering, If you CPF approved lump sum was awhile back and after probably like a year or more when u start paying the 10% (assuming you exhaust ur cash component only @ the foundation 10%) could u then apply for reimbursement on the CPF OA balance which is ur "future contribution"? Since u never had the additional sum (collected in the year while waiting for foundation) in the first place during approval.
auroraborealis
18-10-12, 22:45
btw, the lawyer screwed up, reply from kind CPF officer here:
"We are pleased to inform that for properties under construction, members may apply for one-tme reimbursement of stamp duty paid not later than legal completion and this may be done before the withdrawal of lumpsum payment to the developers.
*
You may wish to instruct your lawyers to submit the payment request online for the reimbursement of stamp duty paid for your property."
btw, the lawyer screwed up, reply from kind CPF officer here:
"We are pleased to inform that for properties under construction, members may apply for one-tme reimbursement of stamp duty paid not later than legal completion and this may be done before the withdrawal of lumpsum payment to the developers.
*
You may wish to instruct your lawyers to submit the payment request online for the reimbursement of stamp duty paid for your property."
I had called up my lawyer and checked with her about the SD reimbursement and the legal fees, she said she will help me with the reimbursement and no legal fee involves. But already 1 week, still no news, wonder how long it will take.
Yesterday, received a letter from CPF about the approval of stamp duty. Now waiting for the money to be credited to my account only.:cheers1:
cottonberry
23-10-12, 11:26
is it only the lawyers can do the reimbursement for us?
auroraborealis
23-10-12, 13:37
Yep...........
is it only the lawyers can do the reimbursement for us?
cottonberry
30-10-12, 14:47
i receive the below reply from my lawyer, can someone advise me on that?
"As the stamp fee on the Sale and Purchase Agreement ("S & P") is $10,560, we would advise that you do not apply for reimbursement at this time, in view that there can only be a one-time deduction of CPF monies for stamp fee reimbursement.You may instead wish to instruct us to apply at a later date after further CPF contributions have been made.
Do note that reimbursement must be made before legal completion which, under the S & P, is to take place no later than 1 July 2020 or 3 years after the delivery of vacant possession, whichever is earlier. It is possible for legal completion to take place several months before this latest date.
If you are agreeable, kindly let us have your instructions once the notice of vacant possession / TOP has been issued in order to allow us time to process your request."
auroraborealis
30-10-12, 17:45
i'm not exactly sure... lawyers always write like that :doh:
but we only pay stamp duty once for each purchase, naturally i wld xpect "there can only be a one-time deduction of CPF monies for stamp fee reimbursement"
u shld talk to ur lawyer to get a clearer; everybody know 1-time claim, qn is why delay it when cpf monies risk min sum increases each yr
i receive the below reply from my lawyer, can someone advise me on that?
"As the stamp fee on the Sale and Purchase Agreement ("S & P") is $10,560, we would advise that you do not apply for reimbursement at this time, in view that there can only be a one-time deduction of CPF monies for stamp fee reimbursement.You may instead wish to instruct us to apply at a later date after further CPF contributions have been made.
Do note that reimbursement must be made before legal completion which, under the S & P, is to take place no later than 1 July 2020 or 3 years after the delivery of vacant possession, whichever is earlier. It is possible for legal completion to take place several months before this latest date.
If you are agreeable, kindly let us have your instructions once the notice of vacant possession / TOP has been issued in order to allow us time to process your request."
i receive the below reply from my lawyer, can someone advise me on that?
"As the stamp fee on the Sale and Purchase Agreement ("S & P") is $10,560, we would advise that you do not apply for reimbursement at this time, in view that there can only be a one-time deduction of CPF monies for stamp fee reimbursement.You may instead wish to instruct us to apply at a later date after further CPF contributions have been made.
Do note that reimbursement must be made before legal completion which, under the S & P, is to take place no later than 1 July 2020 or 3 years after the delivery of vacant possession, whichever is earlier. It is possible for legal completion to take place several months before this latest date.
If you are agreeable, kindly let us have your instructions once the notice of vacant possession / TOP has been issued in order to allow us time to process your request."
It means that, at this point in time, your OA balance available for reimbursement is only $10,560.
Say if your actual Stamp duty was 40k, why not wait till more CPF is being contributed from your salaries to come?
By then you would have more $ in CPF OA to reimburse.
cottonberry
31-10-12, 09:33
Sigh, exactly...i don't understand from the way they write. I have paid up the stamp duty of 10,560 via cheque after i sign the S&P and now i am asking them to help me remiburse but they gave me this answer. :beats-me-man:
Thanks for all the reply, i just want to check if any of you guys are facing the same problem like me. I will check with the lawyer again.
shareidiot
31-10-12, 11:04
It is strange. When I bought my PC last year, in lawyer's office, they asked me if I want to reimburse the stamp duty amount from my CPF account. I said yes, and she (the lawyer) duly did it for me adminstratively.
When CPF paid to the law firm, the lawyer offered me over the phone to bank in that cheque to my account. I thankfully said OK. It is just that simple .... No?
I was thinking whether should I ask for reimbursement or not as my bank has already released the 1st disbursement. Any advise?
shareidiot
31-10-12, 11:07
I think CPF will reimburse through the law firm (based on my experience). You have to follow up with your law firm, when they can reimburse you the same amount.
Yesterday, received a letter from CPF about the approval of stamp duty. Now waiting for the money to be credited to my account only.:cheers1:
if is true that if OA has not reach $69K, i can't get the reimbursement from cpf n has to pay fully in cash?
auroraborealis
31-10-12, 12:47
if u have ever used cpf for any property purchase b4... the condition applies. this is the min sum requirement (65.5k this year; next jul will increase again but it's not a linear yearly increase hor... cos garmen got target by which yr need how much, at their current rate too slow so i foresee will hike exponentially in the next few yrs as this can indirectly cool property mkt)
but if u never ever use cpf b4, i think 1st property got some exemptions but i not very sure about it exactly
if is true that if OA has not reach $69K, i can't get the reimbursement from cpf n has to pay fully in cash?
shareidiot
31-10-12, 14:19
I think it is combine amount for both OA & SA (not just OA).
if is true that if OA has not reach $69K, i can't get the reimbursement from cpf n has to pay fully in cash?
i found this link abt the OA and SA.
http://ask-us.cpf.gov.sg/efa/cs/idcplg?IdcService=GET_FILE&RevisionSelectionMethod=LatestReleased&dDocName=EFA_000201&Rendition=Primary&allowInterrupt=1&noSaveAs=1
cottonberry
31-10-12, 16:23
It is strange. When I bought my PC last year, in lawyer's office, they asked me if I want to reimburse the stamp duty amount from my CPF account. I said yes, and she (the lawyer) duly did it for me adminstratively.
When CPF paid to the law firm, the lawyer offered me over the phone to bank in that cheque to my account. I thankfully said OK. It is just that simple .... No?
Why is yours so simple? I am also a first time buyer. Is it because due to my CPF has not enough fund that's why they can't reimburse me?:confused:
Why is yours so simple? I am also a first time buyer. Is it because due to my CPF has not enough fund that's why they can't reimburse me?:confused:
Possible. Just curious how much left in your OA ?
cottonberry
31-10-12, 17:43
Possible. Just curious how much left in your OA ?
My magic number: 5k only :ashamed1:
auroraborealis
31-10-12, 17:55
then u better wait until OA have 11k b4 apply for stamp fee reimbursement... u appy now 10k, u onlt get back 5k no point
mayb ur lawyer was referring to this
My magic number: 5k only :ashamed1:
cottonberry
31-10-12, 17:57
then u better wait until OA have 11k b4 apply for stamp fee reimbursement... u appy now 10k, u onlt get back 5k no point
mayb ur lawyer was referring to this
Thanks auroraborealis! Noted on that. :)
shareidiot
01-11-12, 08:18
Yup that's the link. When my stamp duty was reimbursed last year through the lawyer, I had to set aside $69500, before touching on the available balance.
i found this link abt the OA and SA.
http://ask-us.cpf.gov.sg/efa/cs/idcplg?IdcService=GET_FILE&RevisionSelectionMethod=LatestReleased&dDocName=EFA_000201&Rendition=Primary&allowInterrupt=1&noSaveAs=1
I think CPF will reimburse through the law firm (based on my experience). You have to follow up with your law firm, when they can reimburse you the same amount.
Wow, your lawyer is so efficient, everything is so simple and straight forward. I received a letter from CPF on 17th Oct informing me about the successful deduction of the stamp fee from my CPF account, but till todate, I have not received my money back yet (supposed to bank into my account from the lawyer). I had called my lawyer 3 days ago but the person-in-charge was not around. She was supposed to call me back but :doh:, didn't call me, must call her again today.:(
shareidiot
01-11-12, 09:12
In fact, this lawyer was so thoughtful to offer to drop cheque into bank (during her lunch time). I gave her my account no., and she did it (drop chq). She is great. ;)
Wow, your lawyer is so efficient, everything is so simple and straight forward. I received a letter from CPF on 17th Oct informing me about the successful deduction of the stamp fee from my CPF account, but till todate, I have not received my money back yet (supposed to bank into my account from the lawyer). I had called my lawyer 3 days ago but the person-in-charge was not around. She was supposed to call me back but :doh:, didn't call me, must call her again today.:(
In fact, this lawyer was so thoughtful to offer to drop cheque into bank (during her lunch time). I gave her my account no., and she did it (drop chq). She is great. ;)
When I signed my S&P agreement, I had already given her my accounts number for the reimbursement of the stamp fee. Today, check my accounts again, money not in yet, don't know what is she doing:banghead: .
is it true lawyers fees also can pay thru cpf...:confused:
buttercarp
04-11-12, 12:28
is it true lawyers fees also can pay thru cpf...:confused:
No I don't think so.
Interesting thing I just found out from this newspaper report.
http://www.tnp.sg/content/banks-stop-legal-and-other-fee-subsidies-housing-loans
October 1, 2012 Linette Heng
The Monetary Association of Singapore (MAS) has clarified that banks can continue to offer subsidies of legal and valuation fees to customers. Its rules only prevent banks from packaging legal and valuation fees as part of the property's purchase price.
Banks had earlier said that they had received a reminder from MAS to stop offering the subsidies, which can amount up to $5,000.
Despite the MAS clarification, OCBC and DBS banks said that they have stopped the subsidies. UOB will not offer the subsidies from Oct 5.
No I don't think so.
Interesting thing I just found out from this newspaper report.
http://www.tnp.sg/content/banks-stop-legal-and-other-fee-subsidies-housing-loans
October 1, 2012 Linette Heng
The Monetary Association of Singapore (MAS) has clarified that banks can continue to offer subsidies of legal and valuation fees to customers. Its rules only prevent banks from packaging legal and valuation fees as part of the property's purchase price.
Banks had earlier said that they had received a reminder from MAS to stop offering the subsidies, which can amount up to $5,000.
Despite the MAS clarification, OCBC and DBS banks said that they have stopped the subsidies. UOB will not offer the subsidies from Oct 5.
yup but seems they all stopped:rolleyes:
When I signed my S&P agreement, I had already given her my accounts number for the reimbursement of the stamp fee. Today, check my accounts again, money not in yet, don't know what is she doing:banghead: .
Received a call from my lawyer today. The reason for not able to receive my reimbursement is that the bank cannot issue the cheque under my name only as the ppty was bought under my husband and my name, so the bank needs an authorisation form from both of us. Funny leh, the SD was deducted from my CPF, definitely, the money has to reimburse back to me lor, why need authorisation letter?
auroraborealis
05-11-12, 23:14
Yah.. Same here, so inefficient. Now only request authorisation form, shouldn't they have prepared it at the same time. It's been 2-3 months, sigh
Received a call from my lawyer today. The reason for not able to receive my reimbursement is that the bank cannot issue the cheque under my name only as the ppty was bought under my husband and my name, so the bank needs an authorisation form from both of us. Funny leh, the SD was deducted from my CPF, definitely, the money has to reimburse back to me lor, why need authorisation letter?
Yah.. Same here, so inefficient. Now only request authorisation form, shouldn't they have prepared it at the same time. It's been 2-3 months, sigh
Ya, my lawyer can actually send me an email with the attachment for us to sign but instead he kept calling my handphone in order to explain to me why my cheque was held back by the bank. For almost 3 days, I didn't answer the calls because the number seems unfamiliar to me as I have been receiving lots of :doh: calls recently.
auroraborealis
06-11-12, 11:27
mine actually told me i can collect cheque soon, then suddenly say must sign authorisation form. then i ask them whether they applied for reimbursement or not :doh: they said applied, then i ask if you can apply w/o the form then y now need form :confused: :confused: :confused:
mayb we using same confused lawyer man:doh:
Ya, my lawyer can actually send me an email with the attachment for us to sign but instead he kept calling my handphone in order to explain to me why my cheque was held back by the bank. For almost 3 days, I didn't answer the calls because the number seems unfamiliar to me as I have been receiving lots of :doh: calls recently.
is it true lawyers fees also can pay thru cpf...:confused:
Can, at least when i bought mine!
b) When buying a private property
You can use your CPF savings in your Ordinary Account:
i)
To make direct payment to a property developer or a seller for the purchase of a property;
*
ii)
To repay a housing loan taken for the purchase of the property. However, please take note of the following:
The mortgagee's restriction on the use of your CPF savings towards servicing your housing loan.
The reduction of the contribution to the Ordinary Account as you get older.
The overflow of Medisave contribution to Special Account when Medisave ceiling is reached. For more information on CPF Contribution Rates Table, click here.
An amount should also be set aside in your Ordinary Account to buffer against unexpected events such as job retrenchment, or temporary work stoppage for childcare reasons.
Instalment payments for other properties, if any.
* *
iii)
To repay a housing loan taken for the purchase of land and/or for construction of a house on that land; and
* *
iv)
To pay the legal costs, stamp duty and survey fees incurred in connection with the purchase, refinancing and/or construction of the house.
mine actually told me i can collect cheque soon, then suddenly say must sign authorisation form. then i ask them whether they applied for reimbursement or not :doh: they said applied, then i ask if you can apply w/o the form then y now need form :confused: :confused: :confused:
mayb we using same confused lawyer man:doh:
I think authorisation form is required by the bank and not the CPF Board. CPF Board will approved the SD reimbursement as long as there is sufficient fund in your CPF. If the ppty is bought under 2 names (eg husband and wife), then the reimbursement cheque must issue under both parties' name but if you want the cheque to be issued under 1 name only (either your name or your spouse's name), then the bank will need the authorisation form to be signed by both husband and wife.
if throughout the initial payments only one person's cpf is used will not have such issue even if property is under 2 names. reimbursement will be directly to the one paid out from and very fast:D
auroraborealis
07-11-12, 10:59
mine was for developer via developer lawyer, not sure why though
I think authorisation form is required by the bank and not the CPF Board. CPF Board will approved the SD reimbursement as long as there is sufficient fund in your CPF. If the ppty is bought under 2 names (eg husband and wife), then the reimbursement cheque must issue under both parties' name but if you want the cheque to be issued under 1 name only (either your name or your spouse's name), then the bank will need the authorisation form to be signed by both husband and wife.
if throughout the initial payments only one person's cpf is used will not have such issue even if property is under 2 names. reimbursement will be directly to the one paid out from and very fast:D
We have used cash to pay for the 20% deposit + stamp duty. Monthly CPF deduction started only when the bank disbursed the 1st progress payt and that's from my husband CPF account. For the stamp duty reimbursement, the CPF board has deducted from my account, so naturally, reimbusement should be issued under my name but why the bank still need authorisation form?
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