3 Answers

askguru expert
Hi there, thanks for writing to us on AskGuru.

If they already have met the 5 year Minimum Occupation Period (MOP), you can transfer the flat to one of your parents.

You can apply for a Built-To-Order (BTO) flat after waiting out a 30 month period.

After you have met the 5 year MOP, the private property can be transferred to your name.

A Buyer's Stamp Duty (BSD) shall apply.

Hope this answers your question.

Best Regards,

Team PropertyGuru
Ling CK

1) Transfer of property comes with a price. There will be stamp duty and legal fees involved.
2) Non-monetary transfer is only possible if this property is fully paid, and no CPF was utilized for this purchase.
3) In order for your parent to take over, they must have already completed their MOP.
4) After sitting out the 30 months, you shall be eligible to apply for BTO.
5) Upon success in your BTO application. The period from signing the S&P, followed by key collection till completion of observing the 5 years MOP. You can then do the transfer back to your name.

Hope the above answer to your main concerns, but if there are more query, 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

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Robbie Chen Chee Howe

Yes you can, provided your parents has met their MOP for their current HDB flat.

Do take note that ABSD applies, and if the property is still under loan, your parents will need to have the ability to finance the balance loan.

And you can only transfer back the property back to you after you had served the 5-year MOP for your BTO flat, which is probably more than 10 years later. ABSD will also apply, provided the current rulings are still in place in 10 years time.

Assuming ABSD remains status quo, you will be liable for 12% x 2 = 24% in ABSD just by doing the 2 transfers. Not sure if it is worthwhile for you, but definitely not worthwhile for me.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
9748 6305
PropNex Realty