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Hi Sng,

I am assuming that this is a private property you are referring to. Yes, you will be required to return the CPF monies inclusive the accrued interest in the event that you decide to transfer the property as a manner of a gift to family.

Do take note that relevant stamp duties will also be applicable in such a transaction.

Hope the above helps.

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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We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
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Hi Yam Cheng,

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, that is transferring of ownership shares and so your utilised CPF plus accrued interest would need to be refunded back to your account.

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

Hi Mr Sng,

If the property has been financed or paid using CPF, the CPF monies (plus accrued interest) will need to be refunded back to the transferor's CPF account.

Stamp Duty (BSD/ABSD/SSD) is also payable for all transfers of properties, including by way of Gift.

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 Yam Cheng,

1) There are generally 2 types of giving your property away; still living and after passing on.

2) While you are still living, you can gift it away only if the property is fully paid using cash only.
3) If you had utilized funds in your CPF, then you will have to return all utilized funds + accrued interest.
4) There is a stamp duty imposed when you gifted it away. The stamp duty is the same rate as the buyer's stamp duty.

5) If you decided to only gift it away after you passed on, then it is an inheritance.
6) No inheritance tax imposed since it was abolished in the 90s'.
7) You will have to set a will on the percentage you wished to distribute to your heir.

8) But if the property is an HDB flat, then the person who inherits your flat must meet the HDB eligibility criteria to keep it for their own use or rent it out.
9) I have written something on this transfer of ownership. Maybe you take some time to read it over and see which method suit you best.
https://www.linkedin.com/pulse/transfer-ownership-chee-kwong-ling/

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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