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Hi guru, my dad and I own a 4 room fully paid HDB flat in Ang Mo Kio. We are both owners. I intend to transfer the current fully paid 4 room flat to my two sisters. They are not working. Is it possible to transfer to their names and how long does it take to process? What are the costs involved ? Afterwhich, I intend to immediately apply for a new BTO flat together with my dad. Is it possible ?
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2 Answers

Johnny Goh Mui Huat
Hi LT,

I don't think it is possible. For the following reasons

1) If you only want to transfer out your name, your 2 sisters need to refund all CPF monies that you had used, and you mentioned that they are not working, so i presume no CPF/money to pay you.

2) If you intend to transfer both name to them, you had to do a resale. It is not possible also because they can buy together, no scheme suitable for them, unless both of them are above 35years old. But since they not working, they can take any loan, so they need to fully paid the house also.

Hope that I had answered your question.

Feel free to contact me if you need my assistance.

Thanks and Regards
Johnny Goh
R018297H
Dennis Wee Realty Pte Ltd
Group Director
Mobile: 90906267 
Email: johnnygohmh@dwg.com.sg
Website: johnnygohproperty.com Read More
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Evening LT,

Transfer or part purchase can only happen between current owners of the existing unit. Transferring of ownership to external parties, other then the lawful owner can only be done with S&P.

Applying new BTO unit with your dad are also subjected to conditions. If he had applied for more than 2 new unit from HDB, you might not be eligible.

To feel free to contact me if you require further assistance.

Regards
Mike Lim
 96929209 
ERA Read More
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