Hi,
1) Assuming both father and daughter are Singapore citizens or one of them is an SPR to be eligible to apply for BTO.
2) It is possible to change from mother to the owner from the essential owner.
3) I have to highlight that transferring shares will incur buyer stamp duty even if it is via gift method.
4) If it is the father can contribute all the cost to purchase the flat. The mother will still need to pay for the transferred share even though the daughter getting the share FOC.
5) So if the idea is to own 50/50, the mother will have to cough out 50% of the flat value with the necessary stamp duty.
6) And as an SPR she will also incur 5% ABSD of the share value.
7) The transferring process will also incur legal fees for both parties.
8) My suggestion is not to include the daughter to be an owner if it is just to apply for a BTO.
9) Father as an SC, mother as a foreigner (essential occupier), and daughter (essential occupier) as an SC. This combination is sufficient to be eligible to apply for a BTO.
10) By doing this way, the daughter will not be deprived of her 1st priority just to be eligible to apply for a BTO.
Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!
Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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