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Hi,

Yes this process is called decoupling, and legal fees of approx 5k - 6k applies. And she is required to refund the CPF utilized + accrued interest for this property for the exiting owner. She is also required to pay the relevant stamp duties on the market value of the share ownership transferred. If there is still outstanding home loan on the property, she must be eligible to finance the loan on her sole name.

After decoupling, you can then purchase as a 1st residential property without any ABSD.
May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Good morning Sir,

you can sell your ownership to your wife (its called part share or decoupling) if she is financially capable to do so (return the CPF OA funds that you utilised in existing condo) and take up a bank loan if need to.

Thereafter you will be eligible to buy another property under your sole name (as Singaporean) without ABSD payable.

Do share more information with me so I will be in a better position to advise both of you further.

Shall we work out the numbers first?

Hope my sharing helps in aiding in your enquiry.

May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

Contact:
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Hi Sir

1) If you are Singaporean and no other property then you does not need to pay ABSD as it will be considered as your first property
2) Yes she required to pay back your CPF that is used for the property plus accrued interest.
If you still have outstanding loan she also need to take over the loan.
Other cost will be stamp duty and lawyer fee.
3) I just assisted my client who have similar concern
I will be glad to assist you as well
Appreciate if you can contact me at (65) 96608508  with details of your unit so I can advise accordingly
4) I will be glad to assist for your next purchase as well, no agent fee from private property buyer
I have current price list, promo of every projects in Singapore and will be glad to advise you

Appreciate if you can contact me at (65) 96608508 
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More

Hi,

1) This process is widely known as decoupling in the market.
2) Yes, once you transfer your ownership to your wife. You will no longer be subject to ABSD as you are not owning any property after the process.
3) Does she require to pay back your CPF? This is a good question. Since you have utilized your CPF fund in your purchase. Once you release your ownership from the property. It is just right that the CPF has to get back what you had spent on the property.
4) Transfering of property is not just a deletion of a name from the deed. If this property is paid in cash, then you can give it away as a gift. If you had utilized CPF funds, CPF will ask the fund to be returned once you let go of the property.
5) Majority of the property transferred in Singapore is like a buy & sell process. You sell your share to your wife, your wife is buying your share. This is why the legal fees are double of a buy or sell transaction.

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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Hi Sir,

If you're a Singapore Citizen and this is your only property, you do not need to pay ABSD for your next property purchase if you had transferred your current property to your Wife.

Your Wife would have to refund all the CPF monies that you had utilised for the property back to your CPF-OA upon the share transfer. She will also need to have the capability to support the outstanding loan of the property (if any).

You can then use this refunded CPF for your next property purchase.

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