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Currently my hubby and I owned an EC (2nd year)and have finished repayment of house loan. To avoid ABSD, my hubby planned to gift the current EC to me (Through gift of deed) and he would proceed to buy a private property under his name once this current EC reached 5 years. Can we check if we are able to purchase a resale EC of 5 years instead of a private property in this case?
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2 Answers

Robbie Chen Chee Howe
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Hi Mdm,

A resale EC that the first owner has already fulfilled the MOP period, is considered as a private property. Your husband will be able to purchase such a property after you have fulfilled the MOP for your current EC.

Do take note that if he were to remove his name from this current EC, he will have to refund the CPF monies (plus accrued interest) upon the transfer of the property to your name.

I am experienced and well-versed in 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
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Mark Ng S W
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