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Hi guru, I added my name into the house as joint tenancy 5 years ago and now im the first owner with my parent second and third owner. I would like to buy bto with my wife, the house I will remove my name and pay back the cpf I used, however the house will not be selling. I would like to know, can I still get hdb loan and do I need to pay levy, I didn't brought my parent house, but just added into joint tenancy scheme. Please advise thanks.
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1 Answer

Mike Lim
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Evening Eve,

If your parent's unit have being purchased directly from HDB or with grant and having being added as one of the owner, you would be considered as enjoyed the subsidy. Hence you will be required to pay levy when you opt to purchase BTO as your upcoming housing. As for performance of part sales of unit to your parents, they will need to obtain loan, 1/3 of the unit's current value (depending on the manner of holding) plus the amount of CPF and interest that you have contributed.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
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