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The entire process of transferring ownership has to be approved by HDB, and the CPF funds that your FIL has utilised must be refunded to him including the accrued interest.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

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Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Landed Dynamic Alliance
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Hi,

1) This will not be allowed by the CPF. As CPF saving is supposed to be the fund for retirement.
2) The only way of transferring as a gift without paying the value of the property is when this property is bought solely with cash.
3) This gift is also subject to a gift tax amount equivalent to the buyer stamp duty.
4) Since your father-in-law had paid his share using CPF saving, the transferee (let said to yourself) will have to top up his fund utilized in his CPF OA + accrued interest.
5) This is to ensure he has sufficient retirement funds for his retirement.
6) The transferee is also subject to buyer stamp duty in this transferring process.
7) Your father-in-law will receive the returned fund in cash from the CPF once he renounces his SPR status.

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

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Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you may like to check with HDB as such transferring of ownership status would need HDB approval in order to proceed.

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