I WOULD like to know whether it would one day be possible for retirees who own Housing Board flats to sell part of their share in their flats to their children.

This way, part of the value of flat can be cashed in to take care of retirement expenses. I am curious why HDB decided to institute the Lease Buyback Scheme.

For some retirees with fully paid-up flats, they would like to put their children's names in the title deed of the flat.

However, doing so is like giving a gift to one's child and the elderly owner does not get anything out of it.

If a flat was purchased over 20 years ago and is fully paid-up, HDB could consider allowing children who have no property to their names to buy, say, a 20 to 50 per cent share in their parents' flat.

My sister had some Central Provident Fund savings and wanted to buy a 20 per cent stake in my father's flat.

However, upon enquiring with HDB, she was rejected. Would it be possible for HDB to legalise such purchases?

Ms Jennifer Lim

For more my paper stories click here.