AskGuru Q&A Community

Question

General Questions

Asked by Mr. Mike Chia 15 May 2014

Hi, if currently i own a property but my wife doesn't. So if we decide to purchase a 2nd property, is it possible to determine that i only own 1% of the new property and my wife own 99% of the new property. Reason is that the higher stamp duty on 2nd property and in this case, i will only need to pay 1% of it.

562 views

Upvote Upvoted

2 Answers

Previously Asked Questions

Philip Chong · Answer 1 · 2014-05-15T16:39:16+08:00

Philip Chong

Replied 15 May 2014

Hi Mike, if you own 1% of the new property, you still need to pay the full ABSD on the 2nd property. Do consult the lawyers if you would like to stake a claim on the property while your wife owns 100% of the stated "2nd property". If you need any assistance for lawyers contacts, do drop me a call or email and you can ask them for assistance. Rgds Philip Chong, Associate Team Director, Singapore Accredited Mortgage Planner, PropNex Realty Pte Ltd. Hp: 81613790 Email: propnex@me.com Read More