How parents can prevent disputes over their properties

Many families could avoid painful court tussles over real estate if they make the reason behind property purchases clear to everyone.

- Tan Ooi Boon

Many parents, for instance, like to include a child as a co-owner for administrative purposes or to get better loan terms for having a young owner, without the intention of gifting the property to that child.

If this is the purpose behind such an arrangement, disputes can be avoided if the parents state clearly in a will or in e-mails circulated to the family that such properties are to be shared among all the children.

Similarly, if you have paid for the family's private property, ensure that you are named as a co-owner if you want to preserve your share in it. Also make sure you keep good records of your financial contributions to family assets, as such documents could help you to stake your claim in a dispute.

RIGHTFUL OWNER'S NAME NOT LISTED

A successful entrepreneur improved the lifestyle of her family by buying private homes for her parents and siblings but somehow, her parents favoured their other children instead.

Her name was excluded from properties that her parents had bought with her money. When the mother died, other siblings were named as beneficiaries in the will.