Alien Huang’s Parents May Have To Pay At Least S$4.7K A Month For The Remaining Mortgage On His S$2mil Apartment
They could also choose to sell it, but there’s a catch.
When Taiwanese star Alien Huang passed away last week, he left behind his 278sqm house in Taipei’s Beitou District that he bought in 2018 for NT$42.8mil (S$2mil). At that time, he planned to pay off his mortgage by the age of 45, which would’ve been nine years from now, but his sudden death at the age of 36 has raised concerns about the financial burden the loan might have on his parents.
Recently, an estate planning lawyer made an appearance on a news talk show to share his thoughts and expertise on this matter. He pointed out that if Alien’s family were to keep his apartment, it’s estimated that they would need to fork out at least NT$100,000 (S$4,700) a month for the mortgage repayment.
On the other hand, if they were to sell the place, they would be subject to a tax rate of 35 per cent of their gains from the sale as the holding period of the property is still less than two years.
The lawyer also briefly touched on how the matter of inheritance could be settled. Since Alien did not leave a will, it’s likely that his estate will be divided equally between his mother and father even though they divorced a long time ago.
Alien was known to be much closer to his dad and even let him have complete control over his finances. When he was still alive, the singer-actor-host would transfer all his earnings to his dad and be given a monthly allowance of NT$50,000 (S$2,350). Reports also claim that the reason Alien was willing to splurge on the apartment in Beitou was ‘cos he was planning to live with his dad, who said that he likes houses that are near lots of trees.
Other than that, Alien was quite frugal with his spending. Unlike many of his peers, he did not blow his money on extravagant luxuries like fancy cars and would often get a lift to work and other appointments. The only thing he was willing to splurge on was his collection of toy figures.
Photos: TPG, Alien Huang/Instagram