Coco Lee reportedly left HK$150m in properties to her mother, 86, and two sisters, Latest Music News - The New Paper

Coco Lee reportedly left HK$150m in properties to her mother, 86, and two sisters

HONG KONG – Late Hong Kong-American singer Coco Lee owned almost HK$230 million (S$39 million) in properties before her death, with the majority of the assets now transferred to her elderly mother.

This was according to Hong Kong media outlet HK01. Lee, who had battled depression, died last Wednesday following a suicide attempt on July 2. She was 48.

Recent searches conducted by HK01 showed that the pop diva owned several luxury properties in Hong Kong which are worth more than HK$150 million. The properties were either under the joint tenancy of Lee and her 86-year-old mother, or Lee, her mother and her two elder sisters, Carol and Nancy.

Lee’s estate has been under the spotlight since her death as there were questions over who would inherit it. Lee was married to Canadian businessman Bruce Rockowitz, although media reports said they had separated for more than two years and were undergoing divorce proceedings.

The couple had no children together. Mr Rockowitz has two daughters from his first marriage.

According to HK01, of the four properties owned by Lee, the most expensive was a unit bought in 2007 for HK$30 million, now worth about HK$60 million.

Another two units were bought in 2003 and 2015 for HK$5.7 million and HK$24.88 million respectively, which have since appreciated in value to HK$38 million and HK$28 million.

The three properties are under the joint tenancy of Lee and her mother.

A fourth property bought in 2010 for HK$13.98 million has appreciated in value to HK$30 million. This property is co-owned by Lee, her mother and her two sisters.

Following Lee’s death, the ownership of the first three properties has been transferred automatically to Lee’s mother, while the fourth has been transferred to her mother and two sisters.

Lee also held a property under a sole proprietorship. The unit was bought in 1988 for HK$3.58 million, and has since risen in value – 16fold – to HK$60 million.

She also owned two commercial units – bought in 2011 for HK$11 million – now valued at HK$12 million. The two commercial units were held under a joint venture with her mother.

HK01 said none of the seven properties is under mortgage, which implies that Lee has paid up fully for the properties.

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