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Are you contributing financially to the repayment of loan for this flat using CPF? if you are, then your parents will need to return you the funds used from CPF for this flat including the accrued interest in the event that you withdraw your name (subject to approval from HDB) to purchase another property with your spouse.

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Hi
This is the common problem I always encountered in my line of work. In short, if you are currently financing the mortgage of the flat using your CPF, your parents will need to refund you the amount of CPF you have used towards financing the flat plus accrued interest to enable you to remove your name from the house. If not, the flat need to be sold and housing plans for your parents need to be work out before you can apply a BTO or purchase another resale with your spouse. Do contact me at 93375051  for a free and non obligatory discussion on this.

Regards
Taufik Hussein
Marketing Director
ERA Realty Network Pte Ltd
CEA Reg No: R061607B
Contact No: 93375051  Read More

Hi Esther,

1) By owning the current flat, you will still be eligible to buy a BTO in the future as long as you have fulfilled the 5 yrs MOP from the date your name is added.
2) You have up to 6 months to remove your name from the current flat (it does not matter whether the flat is sold in the open market or just removal of your ownership) upon collecting keys for the BTO.
3) But by then if your mother does not agree to take over or does not have the financial capacity to take over. You will be stuck in between because the HDB will not be involved in this.
4) The only concern from the HDB is that you have to remove your ownership from the current flat.

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

Hope the above answer 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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Hi Esther,

Yes, you can remove your name from the flat should you be planning to get your own place with your spouse in the future.

However, please take note that your Mother will have to have the financial capability to refund you whatever CPF monies you had utilised for this current flat, before you can "exit" from the property.

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 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market. Read More