Asked by Anonymous
Hi, my parents are divorced and currently, they have a HDB under both their names. My dad will like to transfer the ownership to my brother so that he can purchase another HDB and live by himself. He has paid twice for the current HDB compared to my mom. We are trying to find the best solution whereby my brother is able to pay the minimum price from the transaction as my dad already has enough to pay for another HDB. Will it be better to resell the part share from my dad to my brother instead of the ownership transfer? As I understand for ownership transfer my brother will have to pay the CPF back to my dad as well as the outstanding mortgage amount. For the resell of part share, is there a minimum to determine the selling price (can we determine the selling price to be 50% off market value)? Also, for resale of part share, is it compulsory that my dad's withdrawn cpf has to be fully refunded from the sale?
Thanks!
Thanks!
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