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Hi, is your unit fully paid ? Does your dad have any means to finance the outstanding loan? In order for him to take over your share of the unit, he needs to be able to finance the outstanding loan of the unit .

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

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In terms of eligibility to own a HDB, it is quite likely they can, but financially, are they able to take on the loan if your name is taken out, and are they even able to refund you the CPF monies that you have utilised for this flat including the accrued interest? If they cannot, then this is definitely not viable given that both of them are retired. Read More

Here are some recommendations:

Contact HDB Directly: The best course of action is to contact HDB directly to discuss your specific situation. Explain your desire to apply for a BTO flat and the reasons for wanting to remove your name from the existing flat. HDB can provide the most accurate and up-to-date information on your eligibility and options.
Explore Alternatives: Consider alternative solutions for the existing HDB flat. Could your parents contribute financially towards the mortgage, even if they are retired? Could you rent out the existing flat to help manage the financial burden?
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