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**It is almost always better to leave the condo as it is and pass it through a Will, rather than transferring it while your parents are still alive.**

In Singapore, doing an *inter vivos* (lifetime) transfer or gift of a residential property triggers severe tax and regulatory complications that many families regret.

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### 1. Lifetime Transfer Triggers Huge Stamp Duties (BSD & ABSD)

* **Treated as a Sale at Market Value:** Even if your parents "gift" the Tampines condo to you for $0, IRAS assesses stamp duties based on prevailing market value.
* **Buyer’s Stamp Duty (BSD):** You must pay standard BSD (up to 4%–6%) in cash or CPF.
* **Additional Buyer’s Stamp Duty (ABSD):** If you already own an HDB or private home, transferring their condo into your name counts as an additional property purchase, triggering **20% ABSD** (for a Singapore Citizen’s 2nd home). On a $1.5M condo, that is **$300,000 in unrecoverable cash tax** just to put your name on the title.

### 2. Passing by Inheritance (Via a Will) Is Completely Tax-Free

* **Zero Estate Duty:** Singapore abolished estate duty in 2008.
* **Zero BSD & Zero ABSD on Inheritance:** When beneficiaries inherit a property under a valid Will via a Grant of Probate, IRAS does **not** levy BSD or ABSD on the transmission.

### 3. Impact on Your Own Housing Plans

If your parents transfer the condo to you now, you legally become a private property owner immediately:

* You cannot buy an HDB flat or BTO with your spouse.
* If you buy your own matrimonial home later, you will be hit with 20% ABSD because the condo occupies your first-property quota.

### 4. What Your Parents Should Do Instead

Since they live comfortably in the condo and do not need liquidity:

1. **Draft a Clear, Formal Will:** Have a lawyer draft a Will specifying how the condo should be distributed (e.g., split equally between siblings, or sold upon passing with net proceeds shared).
2. **Execute a Lasting Power of Attorney (LPA):** Appoint trusted family members to manage their affairs if they lose mental capacity.
3. **Make CPF Nominations:** CPF savings do not pass via a Will, so ensure their CPF nominations are updated.

Leaving the property in their names preserves their housing security, avoids hundreds of thousands of dollars in stamp duties, and keeps your own property options open.

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Gan Eng Joo Onassis 颜荣裕, REALTOR®

MSc BIT (Middlesex, UK); BBA (UniSA)

CEA Reg No: R021244C | Mobile: (+65) 88899918 

Email: onassis@sgagent.com

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Hi there!

This is a very sensible question, especially when planning for the family's future.

**There isn't necessarily an advantage to transferring a property to your children while you're still alive.**

Since your parents are comfortably living in their Tampines condominium and do not need the proceeds, I would first consider whether there is any compelling reason to change the ownership now.

A lifetime transfer, even as a gift, can attract Buyer's Stamp Duty and potentially Additional Buyer's Stamp Duty, depending on the recipient's circumstances.

Inheritance, on the other hand, is generally treated differently for stamp duty purposes.

**More importantly, transferring ownership means your parents would be giving up legal ownership of their home.** That deserves careful consideration, particularly if they intend to continue living there.

Rather than rushing into a transfer, I would suggest discussing a properly drafted Will and Lasting Power of Attorney with an estate-planning lawyer.

**May I ask whether you currently own a property yourself, and whether you have siblings who may also inherit the condominium?**

These details could significantly affect the family's planning considerations.

Best regards,
**Geryl Lim**
CEA Reg. No. R014783H
WhatsApp: 9278 7772  Read More

Yes, a will is generally the better option for your parents’ situation in Singapore.

1. Keep Ownership: Your parents retain full ownership of their Tampines condo while they are alive.

2. Avoid Early Transfer Costs: They can avoid stamp duties triggered by transferring the property now.

3. Maintain Flexibility: They can still sell the condo, refinance it or move elsewhere if their needs change.

4. Decide Who Inherits: A will lets them state who should receive the property and helps reduce uncertainty among family members.

5. Get Legal Advice: Have a Singapore lawyer prepare a will and review the inheritance arrangements, especially if there are multiple beneficiaries.

Bottom line: Since your parents still live in the condo and don't need to transfer ownership, keeping it in their names and making a proper will is a sensible starting point.

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Hi, appreciate your sharing over PropertyGuru, propose them to do a right size to HDB to enjoy the cash and funds if they are still around.
Looking forward to assist you at WhatsApp +65 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart
PropNex Senior Associate Division Director Read More