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If the property is mortgaged to the bank, or had used CPF to pay for the property, they would have lodged a caveat on the property, and they will likely challenge the sale.

As such transfer done for a nominal fee of $1 is done so that there will be savings on any stamp duty payable, it would raise warning bells by IRAS, and hence may not be allowed.

If you gave the property to your relative by way of gifting, the proper legal procedure and legal fees would need to be performed as well. For such gifting, please seek legal advice.

Yian Tay
ERA Realty Network Pte Ltd
Mobile: 82884499 
Email: yiantay.era@gmail.com
CEA Regn - R027190C Read More