AskGuru Q&A Community

Question

Home Buying

Asked by Mdm. Berlynn Ong 3 Apr 2013

Hi there,

Im married with two kids. Recently i sold my flat and currently staying with my parents now. As now my dad is coming out cash monthly for the house. How do i go about using my cpf to pay for the house instead?

If i wan to take over the house, wat are the procedures? Please kindly advise

344 views

Upvote Upvoted

1 Answer

Previously Asked Questions

Mike Lim · Answer 1 · 2013-04-03T15:40:30+08:00

Mike Lim

Replied 3 Apr 2013

Afternoon Berlynn,

You are not allowed to utilize CPF for units that you do not own. To purchase over your parents unit, you can do it through standard S&P or request for transfer of ownership. But if you request for transfer of ownership, you might be liable for levy, depending on the situation.

Do feel free to contact me for further discussion.

Regards
Mike Lim
96929209
m52i@yahoo.com
ERA Read More

Upvote Upvoted

BO

Mdm. Berlynn Ong

Replied 3 Apr 2013

Wat type of levy are you referring to?

AskGuru Q&A Community

1 Answer

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

AskGuru Q&A Community

Want this question answered?

1 Answer

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours