Hi,
1) In order to take over your share, your brother must meet the eligibility scheme listed by the HDB.
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/eligibility
2) This has nothing to do with his current status in your flat.
3) A lot of people thought that transferring is cheaper than selling. But from a legal point, this is not exactly true.
4) You may see the definition listed by the HDB to understand:
https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/change-in-flat-ownership
5) If you read carefully you will find that the incoming owner has to pay for the taking over.
6) The process is similar to selling and buying.
7) In your situation, it is as good as selling only difference is the buyer is your immediate family member.
8) You may find the grant that could be eligible for them from the below:
https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/financing/cpf-housing-grants
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
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly.
Read More
