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Hi

Assuming you have enough cash funds, even though you can place the property under a trust for your son, you still have to wait out 30 months after this transfer before you are eligible to apply BTO with your spouse. All other eligibility conditions such as income not to exceed $14k, plus not more than 2 times subsidizing housing purchased also applies.

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

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Hi,

1) Transfer is a layman's term.
2) It can mean 2 different things under the eye of legal, transfer via:
(a) gift: You must return the utilized CPF + accrued interest if there is any before the legal transfer.
(b) sale: It can be at, a higher or lower than the market value. The sale proceeds will be used to return the utilized CPF + accrued interest before the sale can be completed.

3) You may apply for a BTO/SBF after observing a 30-month wait-out period upon the completion of the transfer.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers 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
https://R056727F.propnex.net/
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My Answer with regards to your Question:

Ownership Transfer for BTO Eligibility:

transferring property to a son involves considerations for BTO eligibility with a spouse.

A waiting period of 30 months may apply after the transfer before BTO eligibility with a spouse.

Trust Arrangements:

Trust arrangements may be needed for the property transfer to a minor, involving legal documentation and adherence to specific procedures.

CPF Implications:

If CPF savings were used for the property, transferring ownership may have CPF implications.

If transferred as a gift, utilized CPF + accrued interest must be returned before the legal transfer.

If transferred as a sale, proceeds may be used to return utilized CPF + accrued interest.

Eligibility Conditions:

BTO eligibility conditions include an income not exceeding $14k and limitations on subsidizing housing purchases.

The waiting period and eligibility conditions apply for subsequent BTO applications with a spouse.

Unfortunately, this platform doesn't allow me to direct contact you.

You can reach me at https://wa.me/6598569255.

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You will need to wait out for a period of 30 months after disposing your interest in the private property in order to be eligible to apply for BTO. Read More

Hi,

Yes, this is possible, but not immediately. You will have to serve a 30-month wait-out period before you're eligible to apply for a BTO flat. This is assuming you also meet all other eligibility conditions of applying for a BTO flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More