Asked by Anonymous
Hi, does buying back of home ownership shares incurred ABSD?
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2 Answers
Hi,
If you are referring to part-purchase of shares from your family member, for a joint-tenancy in a residential Property A, so you can become the sole owner, yes ABSD (7% for citizens) and the usual BSD of 3% will be incurred on the market value or purchase price (whichever is higher) of the shares of ownership transferred.
This is assuming you are already owning another existing residential Property B (thus ABSD incurred). Thanks and if you need further assistance, please let me know. I will be glad to understand your housing plans further to propose the best scenario for your requirements. Thanks!
Warm Regards,
Ivan ERA
97432395
ivanng10@gmail.com Read More
If you are referring to part-purchase of shares from your family member, for a joint-tenancy in a residential Property A, so you can become the sole owner, yes ABSD (7% for citizens) and the usual BSD of 3% will be incurred on the market value or purchase price (whichever is higher) of the shares of ownership transferred.
This is assuming you are already owning another existing residential Property B (thus ABSD incurred). Thanks and if you need further assistance, please let me know. I will be glad to understand your housing plans further to propose the best scenario for your requirements. Thanks!
Warm Regards,
Ivan ERA
97432395
ivanng10@gmail.com Read More
If you own private property n both are singaporean ............alternatively sell of present property .............buy each property using indiviual name .........therefore no ABSD for both party ...........kindly contact me for a no obligations chat for your property needs .......my charges are 1% comm for exclusive selling rights to your property ...........joanne chia........chia_joanne@yahoo.com.sg ............hp 8333 3327 ...........if your property is matrimonial hdb and both of singaporean consider de-coupling no ABSD , no BSD for buying of part share Read More