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Hi,

does removing a current owner of a co-owned HBD flat with another person constitutes as a sale of the HDB?

Eg, HDB currently co-owned by A and B, remove A as owner and replace with C as B is under 35 years of age.

Thanks.
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2 Answers

Ivan Ng
Replied
Hi,

This is considered part-purchase of share of HDB ownership, and is subject to HDB approval. You have to apply and elaborate on your valid reasons for doing so. And it is likely HDB will still require a family nucleus to be formed for the remaining owners. It is up to their discretion and on a case-by-case basis.
Also the CPF utilized and accrued interest by this outgoing owner has to be repaid to his CPF account. Thanks and hope it clarifies, please let me know if you need further assistance.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More
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Mike Lim
Replied
Evening,

As per what Ivan have said, HDB would consider should case as part purchase. Sellers under joint tenancy or tenancy in common will obtain a valuation report and the buyer need to prepare the financing to purchase 50% or designated percentage of the share (belonging to the seller).

FY
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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