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How do I transfer my condo to my sister’s name without going through the monetary transactions like down payment? I understand we still have to pay the stamp duties and lawyer fees etc. But is it possible to transact on papers without taking the cash out to pay for the property itself?
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3 Answers

Do you mean as a way of gift? Did you use any CPF monies for this condo? You will need to refund all CPF monies you have used for this property plus the accrued interest into your CPF account in order for you to be able to do the transfer as away of gift.

If I may ask, any reasons for you to do this?

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Good afternoon,

If you have utilized CPF OA for the property, your sister has to refund this CPF utilized + accrued interest of your property so that you can exit the property. The loan portion owed to the bank also has to be redeemed. This is the sale of part share ownership which I am happy to explain further in detail if I can have more info.

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

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi,

I believe you have some usage of CPF into this property right? And your sister will need to refund all CPF monies you have used for this property plus the accrued interest into your CPF account. For this sum of amount, your law firm would be able to advice you further.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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