5 Answers

Hi, yes stamp duties will be paid, you can approach a lawyer who will be able to guide you through the whole process smoothly.

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Landon Chew
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I am not entirely sure on this, perhaps you may wish to call up IRAS to find out on this or check with lawyers who are helping you with the change of the ownership manner of holding for advise. Read More

I would suggest you approach IRAS for an official answer on changes in different manners of ownership

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Ling CK
https://www.linkedin.com/in/ckling/ Read More

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, you may like to consult your law firm on this.

Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
In Singapore, you generally don't need to pay any stamp duty if you're changing your condo holding from tenancy in common (equal shares) to joint tenancy, assuming both parties are already listed on the ownership document with equal shares. This is because a switch to joint tenancy doesn't involve any transfer of ownership.

Here's a breakdown:

Tenancy in Common (Equal Shares): Both parties already own the condo with equal rights.
Joint Tenancy: This ownership structure clarifies that ownership is shared equally, and the surviving owner(s) will inherit the entire property if one joint tenant passes away.
Scenario Where Stamp Duty Might Apply:

Unequal Share Transfer: If one tenant wishes to transfer a portion of their ownership to the other, then stamp duty might apply on the transferred portion. The exact amount would depend on the current property value and the Buyer's Stamp Duty (BSD) rates.

Consult a Lawyer: If you're unsure about your specific situation or considering unequal share transfers, consulting a qualified property lawyer is recommended. They can advise you on the legal implications and any potential stamp duty obligations.
Here are some resources that you might find helpful:

Singapore Legal Advice - Joint Tenancy vs Tenancy in Common: https://singaporelegaladvice.com/law-articles/joint-tenancy-tenancy-in-common-change/
IRAS - Buyer's Stamp Duty Rates: https://www.iras.gov.sg/taxes/stamp-duty/for-property

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