Transferring your HDB flat

Transferring the ownership of a flat between family members is certainly possible but can only be carried out with the requisite that it is done by way of gift and not through a monetary transaction.

Flat owners are also subjected to HDB's eligibility schemes and criteria should they wish to transfer flat ownership to other family members.

These criteria are;

1. A maximum of four owners per flat is allowed.
2. If there are two or more flat owners, they can opt to own the relevant flat under joint tenancy or tenancy-in-common

The types of transfer (taken from HDB) are as follows;

• Adding of co-owner
• Removal of existing co-owner
• Replacement/substitution of co-owner
• Outright transfer of owner

Joint-tenancy

A joint-tenancy type of ownership is where all co-owners have an equal stake in the flat and is preceded by a right of survivorship.

This means that should a joint-tenant pass away, his/her interest in the flat will automatically be assumed by the remaining co-owners regardless of whether a will was left behind by the deceased.

Therefore, the monthly loan instalments will continue to be paid by the remaining joint-tenants. However, the remaining co-owners must fulfil all of HDB's requirements to be able to continue owning the flat. These are;

1. The remaining family or single occupier is a Singapore Citizen or Singapore Permanent Resident
2. He/she is at least 21 years old
3. He/she satisfies HDB's prevailing eligibility rules and conditions to own a flat

Tenancy-in-common

All co-owners are entitled to live in the flat as they each hold a separate and definite share in the flat.

However, should a co-owner pass away, his/her interest in the flat will be distributed in accordance to his Will (if any) or according to the requirements of the Intestate Succession Act.

Co-owners must also fulfil all of HDB's requirements to be able to continue owning the flat;

1. The remaining family or single occupier is a Singapore Citizen or Singapore Permanent Resident
2. He/she is at least 21 years old
3. He/she satisfies HDB's prevailing eligibility rules and conditions to own a flat

For more information on the type of transfers allowed, visit HDB's website.