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How do I help my spouse pay off the remainder of her condo housing loan using my CPF as we recently got married. Both in 40s. She is currently sole owner of the property and mortageg loan taken from bank. and I live with her. Note that I (husband) am NOT listed as either a co - owner or co-occupier. . I don’t own any property although I previously owned HDB flats when younger.
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3 Answers

Hi,

To use your CPF OA to pay off the loan for her property, you need to be one of the co-owners as well. She can sell part of her ownership to you to facilitate this.

Hope the above clarifies. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Hi,

1) You have to be an owner of the property in order to utilize your CPF fund for the property.
2) Your wife has to do a part-sale of the property to you.
3) You will have to go through the TDSR assessment to determine how much fund you could leverage to decide how many shares you could buy over.
4) The banker can guide you from there once you are taking a loan from them.
5) If you don't need any funds from the private financial institute you may approach a conveyance lawyer to assist on your part-sale process.

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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Robbie Chen Chee Howe
Hi Sir,

She will need to "sell" you a share of the condo to make you a co-owner in order for you to contribute your CPF towards the condo.

However, this may not be the most ideal option for you to consider, as there will be stamp duty and legal fees involved. Not sure if you're open to explore other options instead? If so, do get in touch with me, so that we can discuss further in depth.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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