Hi Sir/Ms
Yes, you have to pay Buyer Stamp Duty when taking over your ex's share. Follow these steps:
1). Find out what is the share percentage that you are buying over. It may not be 50%, it depends on the agreement made at the point of purchase.
2). Find out the current market value of your property. If the property is worth $1 million and the share to be bought over is 50%, then your purchase price is $500,000
3). The generic formula to calculate Buyer Stamp Duty is then:
1% for the first $180k
2% for the next $180k
3% for the remaining value of the property.
In this above case, you will pay $9600 Buyer Stamp Duty for $500k of market value.
Best regards,
Dennis Lam
PropNex Realty Pte Ltd
CEA Regn: R052412G
Mobile:
82227881
Email: dennislambc@gmail.com
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