Asked by achoon
Hi? my name is in a Joint Tenancy with my parent in a HDB house, now i would like to buy a HDB with my wife. what is sould do?
766 views
1 Answer
Afternoon,
You can either perform a transfer of ownership to your parents or sell the unit and your parents buy another unit, either studio apartment or smaller unit in the resale market.
For transfer of ownership, beside the standard legal and stamp fee, your parents are required to repay you the CPF amount that you can contributed to the unit, inclusive of interest. As for the cash component, it's to be settled between you and your parents in private.
As for normal sales, your parents need to be assessed on their credit reliability before proceeding further. HDB studio which are cheaper might be a better selection.
FYI
Mike Lim
96929209
ERA Read More
You can either perform a transfer of ownership to your parents or sell the unit and your parents buy another unit, either studio apartment or smaller unit in the resale market.
For transfer of ownership, beside the standard legal and stamp fee, your parents are required to repay you the CPF amount that you can contributed to the unit, inclusive of interest. As for the cash component, it's to be settled between you and your parents in private.
As for normal sales, your parents need to be assessed on their credit reliability before proceeding further. HDB studio which are cheaper might be a better selection.
FYI
Mike Lim
96929209
ERA Read More