No. In Singapore, according to the Central Provident Fund ("CPF") Board, the CPF savings and the accrued interests do not need to be refunded to the deceased owner's CPF account. Instead, the property becomes part of the deceased owner's estate if held in tenancy-in-common. If the deceased owner has a will, the property will be distributed according to the will. If there is no will, the property will be distributed based on intestacy law, which is a set of distribution rules predetermined by the law. If the property was held in joint-tenancy, it will be passed on to the remaining surviving joint owner(s).
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