AskGuru Q&A Community

Good morning,

it will be regards as part share. Stamp duties

Husband must be financially capable to take on the loan by himself, repay whatever CPF OA funds that ex wife has came out with and cash if applicable.

Hope my sharing aids in clearing your doubts.

Find out your property value for FREE on a monthly basis. Simply sign up by clicking the link below:

http://bit.ly/yt_proptrack

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

Accolades:

Top Individual Producer July 2018 (Propnex)
Top Individual Producer 2nd Quarter 2018 (Propnex)
Top Individual Producer 1st Quarter 2018 (Propnex)
Top Individual Producer Propnex Annual Convention 2018 (Propnex)
Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Individual Producer 2nd Quarter 2017 (Propnex) Read More

Hi, if you are talking about transferring property to another person, you may wish to consult a lawyer as it involve several payment like stamp duty and etc.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

There will be stamp duties involved, as long as there is any form of share transfers.

Regardless the property is transferred from sole ownership to joint ownership, or sole ownership to another sole ownership, a new loan agreement would be in place.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi,

There are 3 things involved regarding property share transfer:
(1) TDSR: You have to be assess using TDSR whether you have the financial capacity to take over additional loan fom your wife.
You will be to seek assistance from banker to get the necessary loan.

(2) Legal: You have to involve a convenyance lawyer (you may get a lawyer on the bank's panel or ask bank for the list of lawyer under their panel).
The lawyer shall prepare share transfer document for the legal transfer.

(3) Stamp duty:
(a) Buyer stamp duty: this is based on the valuation value on the share transfer, since the count of property remains as 1, there are no ABSD involved if you are Singapore Citizen.
(b) Mortgage stamp duty: you are liable for this as long as you request loan from bank.

You are still subject to 5% downpayment in cash with 20% either cash and/or CPF, as Loan-To-Value still applies to share transfer, meaning whatever value of the share transfer, you can only loan up to 75% of the value.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

Note:
Any response to our answer do not reach us until we scroll through each and every queries posted daily.
The best way to get a follow up is to whatsapp or email us directly. Read More