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As the LBS is for those who wish to age-in-place, the lease is non-transferable on the open market. You may not sell the flat on the open market or rent out the whole flat.

During the lease period

If you wish to terminate the lease prematurely, you can:
<ul>
 <li>
 Return the flat to us
 </li>
 <li>
 Receive a refund for the remaining lease, pro-rated on a straight-line basis
 </li>
</ul>
Your CPF LIFE plan will not be terminated and will continue to provide a lifelong monthly income.

Premature termination of lease

If you outlive the lease of your flat, you will not be left homeless. We will look into your circumstances such as family support, health condition, and financial status, and work out an appropriate housing arrangement with you and your family members.

Outliving the lease period

In this situation, your spouse or child who is living in the flat may:
<ul>
 <li>Live in the flat for the balance of the lease period, subject to eligibility conditions; or</li>
 <li>Return the flat to us</li>
</ul>
If your lease is terminated prematurely, we will reimburse the remaining value of the lease to your beneficiaries, based on a straight-line depreciation.
The unused portion of your CPF LIFE premium*, if any, will be refunded to your CPF accounts when you pass away. The monies will then be distributed to your nominees. If you have not made a nomination, the monies will be distributed to your family members according to Singapore's intestacy law.
*The unused portion of the CPF LIFE premium is the annuity premium (excluding annuity payouts that you have received thus far). For example, if the annuity premium is $50,000 and you have received $250 monthly for a total of 10 months, the unused portion of the premium is $47,500.

Lease Buyback Scheme (LBS)

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