AskGuru Q&A Community

Good afternoon,

you can transfer your ownership of your private property to your foreigner partner but do take note he must have the financial capability to take over the loan and repay any CPF OA funds if any. The transfer will attract additional buyer's stamp duty of 20% as he/ she is a foreigner.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
Mobile: 91115171 
Email: yt.tan91115171@gmail.com

Do follow me on:

IG: instagram.com/propertykaki
FB: https://www.fb.com/propertykaki/
YouTube: https://bit.ly/Youtube_PropertyKaki

To find out what’s the estimated valuation of your existing house, try our SRX property tracker.

You will receive free sms update on a monthly basis.SRX property tracker: http://bit.ly/yt_proptrack Read More

Hi,

Yes you can do a transfer to your foreigner partner. However, do take note that stamp duties (BSD, ABSD and SSD) is applicable on the value of shares transferred.

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 Read More

Hi,

1) I would assume this is private property because foreigners cannot own an HDB flat.
2) You may transfer as you wish. You will need to engage a conveyance lawyer to help you to process the transfer.
3) Your partner will first need to get a bank to loan him/her a sufficient amount to cover your share.
4) A valuation needs to be carried out to determine the value. Valuation fees range from $200~$350.
5) A Letter Of Offer (LOO) must be issued before all of you can approach a lawyer to process the paperwork.
6) Your partner is subject to Buyer Stamp Duty (BSD) & Additional Buyer Stamp Duty (ABSD) on the value of share transferred.
7) On top of this, if your partner is utilizing a loan, he/she also needs to pay a mortgage stamp duty of $500.

Hope the above answer 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
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More