LEGAL TINGS | A PODCAST ABOUT ALL THINGS LAW AND LEGAL.

A family found themselves embroiled in bitter legal battles over their elderly mother’s assets. This turmoil led to three lawsuits among her children.

When managing joint bank accounts, it’s crucial to clarify ownership rights.

In this case, the eldest son initially stated that the funds belonged entirely to his mother.
However, subsequent withdrawals raised serious questions about accountability.

Upon the parent’s passing, the surviving sibling might assume sole ownership, but equitable distribution ensures fair allocation among all heirs.

#legaltings #singaporelegalsystem #assetdistribution #ownershiprights

Think you`ve found a “sure thing” to invest in? Think again.

A recent case involving a Singaporean businessman’s $2 million loss in a fraudulent offshore bank deal shows why it’s crucial to do your due diligence. Here’s what happened:

1. Unverified claims and hasty agreements
The investor trusted three partners without third-party verification, leading to payments being made to personal accounts. Key documents, like the investment agreement, were riddled with errors and lacked independent reviews.

2. Overly optimistic financial projections
The bank was claimed to be worth $27 million with no verified records or valuations.

3. Unsupported financial documents
Expenses presented were unsupported by receipts or invoices, which the court rejected.

The High Court ruled that the investment was a scam, but not before the businessman faced serious losses. When a deal seems too good to be true, it’s time to dig deeper.

#singaporelaw #legaltings #criminallaw #legaladvice #scams #scamsinsingapore #businessscams

Read Here For More:

A young couple’s dream of marital bliss turned into a legal battle over their newly acquired resale HDB flat, valued at $370,000 with nearly $80,000 spent on renovations. As their relationship deteriorated, so did their once-shared vision of a dream home, sparking a dispute over the division of assets.

The court’s decision centered on financial contributions, especially the wife`s investment in renovations. Without children or indirect contributions, the focus remained on each party’s financial input. The wife’s claim was upheld due to clear evidence of her sole financial contribution to the renovations.

This case highlights the importance of clear financial agreements and providing evidence when navigating property ownership disputes.

#legaltips #legalpodcast #singaporelaw #criminallaw #legalawareness