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Hi,

Currently My mom and me are joint tenacy of a 4-room Flat and I'm thinking of transfering my mom name to my wife whom is a PR.

I like to know what we need to pay for the transfer of the HDB flat to my wife name.

I only know that we need to return money to my mom CPF and I'm not too sure does that include into the new HLE we will be taking?

Flat last purhase price: 220K
Current Flat value: 400K median

Mom CPF with % will be est 140K
my cpf with % will be est 70K

Current loan left = 100K

Can someone advise me what the $$ i wil be retaking for HLE and also the cash upfront I need to pay.

Thanks & Regards,
Neo
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1 Answer

Lori Chin
Replied
Hi,

To answer this, which is rather technical, you can make an appointment and speak to a HDB officer. Then you can have that clarity about HLE, CPF refund and other unforeseen issues.

On another note I would like to share what happened to my friend, who is the mother. Just like you, she shared the flat with her eldest son. And when the son got married, the name was transferred to the wife and the son just returned back mum's cpf.

At that point when she signed the document, none of her friends were aware and advise her. Now she's in a predicament, had to stay away from her son and lived in a rental flat. The flat they shared is near Commonwealth MRT new flat by the way and she didn't get a single cent from the appreciation. With no money and now no house of her own, it's quite sad.

Therefore, after I read your situation, I thought of writing this to you.

Thank you for reading.

Lori Chin
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