AskGuru Q&A Community

Buying a property under trust mean the beneficiary will be the official name under the property and won't affect you. However, to be a beneficiary of a trust, the person have to be below 21 years old thus your father won't be eligible.

In addition, trust won't be able to use your cpf and loan won't be under your income.

Feel free to discuss with me if you have any further question.

Thanks!

Alan Sng
ERA
 92707548  Read More

Hi,

You would have to structure the trust properly such that the beneficiary is on his own sole name, and a full cash arrangement to purchase the property would be required. It is also best to speak a law firm well versed with trusts to structure in a manner that meets your objectives and covers all angles as it involves planning across a long period. Happy to share my law firm contact as well to advise in detail. Once comprehensively structured, since your father does not own any residential property, ABSD will not apply for your scenario.

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
ERA Senior Marketing Director
ERA Diamond Achiever

ERA Top 11 Achiever in June 2020 (Top 1% Company Level)
ERA Top 91 Achiever in 2nd Quarter 2020 (Top 2% Company Level)
ERA Top 15 Achiever in April 2019 (Top 1% Company Level)
ERA Top 86 Achiever in Sept 2019 (Top 2% Company Level)
ERA Top 510 Achiever in Year 2019 (Top 8% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
W: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More

Dear Sir/Mdm,

BSD will apply to your father but ABSD is not applicable to you. Buying under Trust has become popular in recent years and there are some considerations that you may want to take note of before buying a property under a trust.

Please feel free to contact me so that I can give you an overview of the process and highlight to you some of the potential pitfalls under such an arrangement.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

I have written a guide on buying Residential Property:
http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
Mr and Mrs Chan (Sold and Bought a property through Nick)

“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
Mr & Mrs Wong (Property Seller)

“Nick has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.
We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Hi there,

ABSD wouldn't apply to you, but do note that if you do sell the property later on, the proceeds cannot go directly back to you.

I'm handling a couple of such cases and would be glad to advise you further.

Regards,
Teck Chuan
Marketing Director
ERA Realty Network Pte Ltd
BBA (Finance), NUS
Mobile: 91374602  Read More