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Stamp duty of the part purchase will be involved and this includes ABSD since both of them are SPR. The sister will also need to ensure that she has the necessary financial capacity to secure the housing loan for the entire apartment. Legal fees will also be involved in the part sale.

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Hi,

Your girlfriend's sister will have to pay stamp duty to buy over 50% share of the condo from your girlfriend.

For PRs, stamp duties involved will be the normal stamp duty, plus Additional Buyer Stamp Duty (ABSD) of 5%. There is no Seller Stamp Duty (SSD) involved in this case.

Apart from stamp duties, both your girlfriend and her sister will have to engage a lawyer each to act on their behalf. Your girlfriend on her sale of her shares, and her sister on the purchase.

Also to take note, your girlfriend's sister will have to take over the balance mortgage, hence her income will be needed to substantiate the loan amount. If her income is not strong enough to apply for the loan, the balance shortfall will have to be paid in CASH or CPF.

Hope the above answers your queries.

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Robbie Chen
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Hi,

The remaining owner will need to finance the property on her sole income + use any funds available for the shortfall, since she will become the 100% owner. She also has to pay BSD+ABSD of total approx 8% on the value of share amount transferred. Legal fees are also payable. You might want to do a rough calculation to see if it makes sense to proceed, as the costs that will be incurred could be substantial. Will it be meaningful for the sister to keep the property on her own? Thanks and look forward to value-add to your housing plans further.

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Hi,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

The present value of the property do not affected the loan, as it solely buying over the other parties share. Importance is the financial status of the party wanna to buy over the share able to obtain the sufficient loan to proceed with the transaction inclusive of the ABSD involved.

Pls provide your contacts detail in order to contact you based upon your stated contents and walk you through the entire process with options.

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Good evening Wen Qiang,

This procedure will be called as part share (decoupling).

The legal fees they need to fork out will based on two lawyers like as if its a normal sale and purchase, maybe around $7k?

Your girlfriend's sister must be financially capable to take on the new loan (based on current valuation).

Stamp duties will be based on 50% of the current valuation. Since your girlfriend's sister will be obtaining a new loan, the bank will send a valuer to value the property.

By the way, care to share why they are decoupling? Perhaps I can share more insights.

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YT TAN 陈永达 | ACCA Graduate, RES
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Dear Sir/Ma’am:

We will be glad to assist you. Kindly write to us on realproperty63@yahoo.com.sg or call us on 93380071  .

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Radhika Prakash
Edmund Tie and Company
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