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Hi Guru,

I (citizen)am a co-owner of a HDB flat with my mum(SPR), bought in Sep 2010, under bank loan, no HDB subsidy or grant.
If I plan to buy EC or resale with my fiancé:

1)Can I remove my ownership from current flat, and my mum can still own it?
2)If not, do I need to pay any resale levy when selling?
3)Can my mum transfer her name to my fiancé once we are married?
4)When must I sell my current flat when applying EC or resale? how many % loan can we get?

Please help! Thank you so much!
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1 Answer

Mike Lim
Replied
Afternoon Ms. Chan,

I'm afraid that's not possible. Since the unit have being purchased after 29 Aug 2010, the MOP requirement is 5 years. With this, you will not be eligible to purchase and BTO or resale unit at this moment. Even if you have fulfilled the MOP requirement, you are not allowed to remove your name from the unit as PR are not eligible to hold HDB under individual name. As for the transfer of ownership to your spouse, it can be done.

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