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Good afternoon,

You will need to fulfill MOP first before you can be eligible for BTO unit. In the event that you intend to remove your ownership from the current unit, it would be easier if you had not contributed CPF monies toward the current unit.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA

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Hi,

There are few parts in your posting, thus I split up each to better answer to them.

You are named 3rd owner in Sep 2015, your MOP will be Sep 2020, 1 day (8 Sep 2015) earlier than the start day (7 Sep 2020).
Your parent could transfer all their shares to you provided you have the capacity to take over.
Meaning you must get sufficient loan to service the transferred shares. Provided they have fulfilled their MOP.
In this case, they are selling to you under the eye of property transaction.

(a) You are not eligible to apply for BTO now since you have not fulfilled your MOP.
You may remove your name from the ownership in order to do so.
It will be complicated if you have contributed CPF towards the flat. As you are considered as selling a flat (part of it), you may incurred SSD (Seller Stamp Duty) upon removing your name from it.
SSD applied when you sell your property within 3 years; 1st yr=12%, 2nd yr=8%, 3rd yr=4%.

If you did not contribute anything to the flat, then, it is merely removing ownership.

(b) Once your MOP is due, your parent have to be able to service the loan either by CPF or cash when your transfer your part back to them. That shall dependent on their financial situation.
They are not required to sell away the house with your name removed. In fact, you will still be staying there as an occupier.
BTO flat might not available immediately upon application.

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

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