What are the ex-spouse's (remaining party) obligations following the transfer of the property under matrimonial proceedings?
If the Court so orders, the ex-spouse (remaining party) has to refund a sum (amount as decided by the Court) to the member’s (outgoing party) CPF Account(s) upon transfer.
The Court may also order the transfer of property with no refunds to the member’s CPF Account. If that is the case, upon the subsequent sale/transfer or otherwise disposal of the property, the ex-spouse would be required to refund to his own CPF Account(s), the CPF monies withdrawn (including the accrued interest) by him and the member for the purchase of the property, and any amount in respect of which the property has been pledged to make up his and the member’s retirement sums.
