AskGuru Q&A Community

Hi,

1) Transferring ownership is just a change of name. This is considered part share sales.
2) Unless you had to pay the flat using cash only. In this case, you may gift it to anyone you wished.
3) Since this is part-share sales, someone has to pay you money for the amount of share transfer. The minimum would be at least top up all the CPF + accrued interest.
4) You may refer to this website for the transfer detail:
https://www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/transfer-of-flat-ownership/guide-on-transfer

5) You have to seek approval from the HDB since this is still under MOP.
6) You may buy a resale immediately after completion of the transfer. You have to ensure you didn't do the transfer less than 3 years of your current flat purchased date. This will be subject to SSD (Seller Stamp Duty)
SSD of 1st yr of purchase = 12%, 2nd yr = 8%, 3rd yr =4%.
7) Your mother cannot be the transferee since she is still married and your father is till around. Even though she might not be the owner of her flat.

Hope the above answer to 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

Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More

Hi Sir,

If your Mother does not currently own (or is an essential occupier) of another HDB flat, you can add her name into your current 5RM flat. In this case, your Father's name will also be needed either as a co-owner or an essential occupier to form a valid family nucleus.

By withdrawing your name from this flat, your Brother (and your parents if they are the new owners), will have to refund whatever CPF monies (plus Accrued Interest) that you had paid towards the flat.

Upon the withdrawal of your name, you will be free to purchase another resale flat with your Wife.

As this flat has not met the MOP, you will need to write in to HDB to seek for approval for the transfer to be done. Do take note that Seller Stamp Duty may be applicable, if you had purchased this flat less than 3 years ago.

Should your parents wish to apply for a 2Rm flexi flat, they will have to meet the 5-year MOP of this flat first. They will also need to dispose off their interest in the current flat after they had gotten the 2RM flat.

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