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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, for your spouse to take over the ownership, she must have sufficient CPF funds to repay you back on the OA portion and accrued interest which you have utilised so far.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Good evening,

What do you mean transfer of property? Through selling or gift? By gift, the property needs to be fully paid.

If both of you will wish to enjoy tax savings (no ABSD), you should sell off HDB and for her to buy over condo from you.

Care to share more about your intention over this arrangement? Perhaps I will be in a better position to advise and propose other suggestions.

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
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Dear sir,

Since the property has not been fully paid, you are unable to transfer the property by way of gift to your wife. In addition, if you have fully paid the property, you will also be required to refund all CPF monies utilised for the property including accrued interest before you can do the transfer. You may sell the HDB under her name.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Geryl Lim
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Hi Sir,

If there is still an outstanding loan, you may do a part sale part purchase process to sell her your share. We will need to check and ensure that her income is sufficient to take over the bank loan.

As for the HDB, since she is the owner, she will need to be agreeable to the sale. Please feel free to contact me so that I can understand your objectives better and provide you with further assistance!

Regards,
Nick Tan
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Susana (Buyer) Read More

Good afternoon,

If there is still an outstanding bank loan for the condo, we can do a part sale part purchase to sell your ownership share to your wife. She must also be financially equipped to take over the share (ie. Enough funds and max home loan).

As for the HDB, since she is the sole owner, she must be agreeable to the sale as well. If she is ok, it is ideal to sell off her HDB first before doing the condo transfer so to avoid the ABSD payment.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Diamond Achiever

SEAA Salesperson Achievement Award 2021 (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

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Mark, your RIGHT choice
Propnex Read More

Hi,

1) Transferring property is a layman's term used by most people.
2) The fact that most of the property transfers are actually a selling/buying process or giving as a gift as per defined in the legal terms.
3) By giving away as a gift, the property must be fully paid in cash in order for the receiver fully benefit from the transfer.
4) Since your condo has an outstanding loan, you can only sell it to her instead of giving it as a gift.
5) From your question you have 2 properties that wish to be freed up and pass the ownership to her.
6) You only can pass either one of them but not both, because one of the properties is an HDB flat.
7) If she takes over the condo follow by the HDB flat. She will have to sell the condo away within 6 months after taking over the HDB flat. This will incur an SSD of 12%.
8) If she takes over the HDB first, she cannot take over the condo as she will need to fulfill a 5yrs MOP.
9) So you have to consider whether it meets your objective before executing.
10) The best way to work out is to sell the HDB in the open market and keep the condo. Then sell the condo ownership to your wife. This is based on the assumption that both properties can satisfy your needs.

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 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 
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https://R056727F.propnex.net/
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