Asked by Anonymous
Hi,
Currently, me, B and C co-own a private condo at serangoon area. 3 of us are Singapore PR since year 2008.
We bought this private condo on year 2010, around 800k sgd. This year, B is getting married and his future wife is also a Singapore PR.
Right now, we are discussing on whether we should sell off this unit or me & C should buy back B's share. Currently, this condo is worth around 1 million sgd.
The questions that I would like to ask are:
1) If me & C buy back B's share, legalwise is this treated as we sell off this unit and then me & C buy back at selling price?
2) How much stamp duty is this going to incur?
Thank you very much.
Currently, me, B and C co-own a private condo at serangoon area. 3 of us are Singapore PR since year 2008.
We bought this private condo on year 2010, around 800k sgd. This year, B is getting married and his future wife is also a Singapore PR.
Right now, we are discussing on whether we should sell off this unit or me & C should buy back B's share. Currently, this condo is worth around 1 million sgd.
The questions that I would like to ask are:
1) If me & C buy back B's share, legalwise is this treated as we sell off this unit and then me & C buy back at selling price?
2) How much stamp duty is this going to incur?
Thank you very much.
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