Hi,
1) If your current 4-rm resale flat was bought without a grant, then you are not subject to any resale levy.
2) If you had bought a BTO/SBF or resale flat with a grant, you are also not going to incur any resale levy because you are not the owner of the flat.
3) You can apply with your daughter now on the BTO even you still have ownership in the current flat.
4) Taking your name out from the current flat is as good as selling your share to your son who is going to be the sole owner of the current flat.
5) He will have to have sufficient capacity to take over your share.
6) Detail process of the change of ownership can be found here:
https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/change-in-flat-ownership
7) If the current flat is under an HDB loan, he will have to check with HDB whether he can increase the loan to take over your share so as to pay you back.
8) If the current flat is under bank loan, he will have to check with the bank.
9) If this is fully paid, he will have to take up a loan from either the HDB or bank to pay you.
10) If decide to pay by cash, he just has to follow the process link on (6) and process the legal paperwork.
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
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