Asked by Mr. JOHN .
hi,
for example, my parents, sister and I are staying in a 3 room flat for 20 years and fully paid off the loan.
All of us then decided to buy a bto 4 room under public scheme, and everyone of us will be owner. My sister and I will take a bank loan because my parents have taken 2 hdb loan in the past.
After collecting the key, My parents have to let go the 3-room flat within 6 months as I understand it. In that situation, can I remove my ownership from the new flat after we collect the key, and do outright transfer on the 3-room flat from my parents to me, so that we can rent it out for extra income? Will HDB and bank allow this?
for example, my parents, sister and I are staying in a 3 room flat for 20 years and fully paid off the loan.
All of us then decided to buy a bto 4 room under public scheme, and everyone of us will be owner. My sister and I will take a bank loan because my parents have taken 2 hdb loan in the past.
After collecting the key, My parents have to let go the 3-room flat within 6 months as I understand it. In that situation, can I remove my ownership from the new flat after we collect the key, and do outright transfer on the 3-room flat from my parents to me, so that we can rent it out for extra income? Will HDB and bank allow this?
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