Asked by
Hi,

I am a SPR, I have a fully paid off HDB (HPS due to passing of my Father) with 80 years lease left. This HDB is currently co owned by my mother and myself.

I am looking by second property (Sole ownership) and I’d like to know my options. My main goal is to monetise this fully paid off HDB and move to a new smaller flat.

My questions is
Can I transfer my HDB ownership to my Mother to avoid paying ABSD. How should I proceed?
0
334 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Hi Zaw Oo,

May I know if your mum is a Singapore citizen? If so, and the finances are equipped, it may be possible for you to transfer the ownership to her. SPR singles cannot hold hdb on their own for new regulations.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Top 600 Achievers in Year 2017 (Top 10%)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5%)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
FB: facebook.com/ASAProp
W: ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **

-- HDB BTO 4rm Sellers Mr. Farvin & Ms. Sel --

Ivan was the first agent that we met up with and right from the offset we had good vibes as he has a friendly personal approach, detailed working style and focuses on building the long-term relationship. He is a committed professional and has fast execution, so we felt assured that things are done well and we can entrust the sale process entirely to him.

We're looking to find an investment property next and will be glad to work with Ivan again for the long-term to restructure our property portfolio. He has become a friend now, and we are most happy to recommend his professional services to our loved ones and friends.

--- HDB Flat Upgraders Mr. & Mrs. Lee ---

We decided to engage Ivan as our agent as we were impressed with how he answered all our enquiries. He has helped us to find our ideal unit and also sold our current unit. He was very patient and never pushy when we were looking for our ideal unit. He would tell us that it is always important to find a unit that we really liked. Thanks Ivan! :)

-- Sellers of Exec Maisonette Gaffoor & Isha --

Buying or selling property is a big decision, as we wanted to make sure our agent is someone we can trust, get in touch with, and approachable. Ivan certainly fits the bill. He was available anytime of the day to answer our queries and was with us throughout the process. We have no reservations in recommending him.

-- HDB BTO 4rm Sellers at Sengkang, Jonathan & Abigail --

By faith, we signed the contract with Ivan and in less than two weeks time, we opened our house for the first and the only viewing, days later the OTP was signed! Thank you for all your excellent diligent services and all the professional advise!

-- HDB upgraders to New EC owners Mr. & Mrs. Goh --

My unit was marketed by another agent back in Q3 2017 and after more than 3 months, there wasn’t any offer. I almost lost hope and thankfully I made the right decision to switch to Ivan. Through his hard work, perseverance & commitment, my unit was sold by Q1 this year. Would definitely recommend Ivan’s services to any potential sellers out there. Read More
0
  • ZO
    Unfortunately my mom is a SPR.

    Originally I was included in the purchase of this flat as my father did not have enough CPF. Thus after his passing, I became the owner.

    If I was not part of the initial purchase, would my mother had inherited the entire HDB?

    If I am unable to remove my ownership from this current HDB, what are my options with regards to owning a second property?

    My current HDB has is 5 room with 4 bedrooms. It is been underutilized and is too big for the family.

    As mentioned, my intention is to monetized this fully paid HDB in some way. My plan is to purchase a smaller house which I can moved to and rent out the entire current HDB unit.

    Is this plan sound? Is there better options?
Hi Zaw Oo,

We need to determine a lot of information before we can move to the next step of purchasing your own home.

Transferring to your mother can be done as long she is a singapore citizen and she will need to buy over your share which also incur stamp duty.

As you are a SPR, you won't be able to get a hdb alone but based on the past transaction, you can consider getting a condo in your own name as the price gap is getting narrower between hdb n condo.

Feel free to contact me at 9270 7548  to discuss further

Alan Sng
Propnex Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions