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Hi, I'm the 3rd owner of a HDB flat (dad n mum the other owners) I'm married and wish to remove my name from the house and buy a new hdb with my wife. Qstn: 1) Can I still get a grant from hdb if I buy a resale flat near my parents? Reason is I want to upgrade to a bigger unit and bring them over without selling the house and rent out their plc instead since its already exceeded MOP. 2) Since there is still mortgage of ard 50K and is only using my CPF for the current house to service it, can I change it to giro once i remove my name and change it under my father's account? (since we r renting it out hence tenant can make payment to my dads acct for hdb to deduct if not I can service it by topping up his account till it is fully repaid or even sell it if demand is good. I wish to sell once my new home has reach MOP so dat the rental money plus cash proceeds can buy me a condo for investment. Thanks!
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1 Answer

Mike Lim
Replied
Morning Steve,

1) If your parent's unit is purchased directly from HDB, being the 3rd owner, HDB would deem that you have enjoyed the sudsidy once. And to remove your name, your parents need to repay the CPF + interest which have being paid by you. From then, they need to fulfill another 5 year of MOP.
2) There's no requirement to elaborate further as I believe my answers in the first section might have being a dampener for you.

Regards
Mike Lim
 96929209 
CEA Reg No: R026708F
Email add: m52i@yahoo.com
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