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Hi, I am currently the occupier of a HDB flat (mum owner, dad co-owner has passed on). My parents purchased the flat long time ago and fully paid for it. My mum has made a will to transfer the house to me after she pass on. Mum now has dementia. I’m planning to get married and buy a new/resale flat with my partner living together with mum. I would like to get some advice.
1.Can I sell/transfer my future rights to property from a will?
2.If yes, how do I go about to start the process? If no, what other alternatives do I have to sell the current house given mum’s condition? Possible to rent?
3.What is the difference between transfer of ownership versus buy over?
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4 Answers

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear Sir/Mdm,

Under the Mental Capacity Act, you will first need to establish that your mum is not capable of making a sound decision because of her medical condition. If this is proven, you can then apply to court and get the court to appoint you to make decision on her behalf.

Please feel free to contact me so that I can understand your situation better before providing you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020
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Hi,

1) You are only the occupier of the flat. Thus there are no worries about applying for BTO or purchasing a resale flat.
2) For your mum's current condition: You have to consult a doctor to see whether there is a possibility to sign an LPA (lasting Power of Attorney). If the condition permits, you should get this prepared as soon as possible. The signing of such a document usually needs a lawyer and doctor to present. You may consult the doctor over this when checking the condition.
3) If the signing of LPA is not possible then you can settle the flat after she passes on.
4) You will be able to rent it out or sell it if LPA is able to sign. Otherwise, you can only sell it after your mum pass on.
5) Transfer of ownership: there are different situation for transferring
(a) Existing owner is still alive or pass on
(b) Paid by cash or cash and/or CPF

It is more complicated when the existing owner is still alive:
(1) If CPF is used, the CPF Board will require used CPF and accrued interest to be top up before it allows the property to transfer.
(2) Only use cash, they can consider it as a gift. There is some restriction on "gift" for the property. No complication for own stay, but if a sell, the buyer can only use cash for the purchase.

If the owner has passed on, this shall be considered as an inheritance.

The above transfer of ownership does not involve IRAS. Whereas, buy over will trigger buyer stamp duty (BSD), ABSD (Additional Buyer Stamp Duty), or sometimes SSD (Seller Stamp Duty) is involved too.

Hope the above answer to your main concerns, but if there are more query, 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
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Robbie Chen Chee Howe
Hi,

Based on your described situation, you are not allowed to sell off the flat. Your mother is now the sole-owner, and she can only sell the flat if it's proven (by a certified doctor) that she's able to make a sound decision.

As you're only the occupier of the flat, you are free to purchase another HDB flat should you fulfill all the eligibility conditions of owning a HDB flat. Your mother can also move into your flat, and leave her flat vacant.

In the event that she passes on in the future, you will inherit the flat, and from there, you could choose to sell it off in the open market.

You may be able to keep the inherited flat though, if you purchase a private property, and that the HDB flat you inherit is a non-subsidized flat purchased before 30 Aug 2010.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require 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
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