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Hi KH,

This will be considered a transfer of ownership, and your parents must be financially equipped to take over the ownership and home loan, as well as return the CPF and accrued interest you have utilized for the property. HDB will also require you guys to submit an application for the eligibility of your parents to take over and review on a case by case basis.

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.

Warm Regards,

Ivan Ng Realtor
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I would like to express my appreciation to Ivan Ng for his excellent work. Ivan is a dedicated, client-focused, patient and sincere agent. Throughout the whole process of selling and looking for our next property, he has always acted very professionally that makes my wife and I feel at ease and assured. Ivan is not a pushy and hard sales agent. Ivan listens and understands our needs and carefully guided us through. We are fortunate to have Ivan as our agent. Thank you Ivan. Read More

Hi KH,

1) You may transfer your shares to your parents.
2) In order to do so, you can approach your HDB branch to assist you in the transfer process.
3) The most important factor is your parents must have the financial capacity to take over your share. They can apply for a loan to do so.
4) You will incur the valuation and legal fees in the process.

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 KH,

Did you utilise your CPF funds for the monthly repayment of the flat? If yes, then you will need to ensure that your parents have the capacity to pay you whatever amount of money you have utilised from your CPF including any accrued interest, as well as have the capacity to undertake the balance loan and repayment, If all above are within means, then you can approach branch office to assist with the transfer of ownership.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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