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Hi, appreciate your sharing. Able to check with MCST on the matters.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Feel free to reach out and I can check.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

You can try calling the management office to find out. Have you already met your minimum occupation period of 5 years? If you have not, then it could be unlikely for your sister to buy over your share. Otherwise you will need to appeal for HDB to allow for the buy over if your sister meets the eligibility to do so.

The financing aspects needs to be looked into as she will also need to be eligible to take up a loan to finance the buy over, and subsequently whatever amount of funds you have utilised via CPF for this property, this amount needs to be refunded back into your CPF account plus the accrued interest. Good morning sir/mdm,

Sorry to hear about your loss. Assuming that HDB allows you to retain this HDB flat under such circumstances.

Buyer’s Stamp Duty (BSD) is applicable even if the transfer is not through a sale but via inheritance with renunciation by other beneficiaries.

The IRAS treats the transfer of a deceased's residential property to a beneficiary as dutiable only if:

The transfer is not solely under a will or the Intestate Succession Act, and

Some beneficiaries renounce or transfer their entitlement to another for consideration (even if no money changes hands).

Since you’re taking over full ownership and your siblings are renouncing their share, BSD will apply on the entire market value of the flat (or the part you’re inheriting from your siblings).

ABSD will also apply because you already own a private property and are not disposing it.

As a Singapore Citizen, your second residential property attracts ABSD of 20% (as of the latest rates in effect from 27 April 2023).

Since you are not selling your private property, this HDB flat will count as an additional property, triggering ABSD.

Special Note:

If all 3 children were to inherit the flat jointly without renunciation, no ABSD would apply as it’s inheritance under the Intestate Succession Act.
But since only you are taking over the entire flat and others are renouncing, IRAS will treat it as a transaction, not a pure inheritance, hence BSD and ABSD apply.

Hope the above helps!

——

I have been in the real estate business since 2009, with more than 15 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 15,900 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.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Deputy Branch Associate Director
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
 +65 92787772 
www.geryllim.com

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

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The Elias Green condo shuttle bus typically runs every 30 minutes, starting from early morning (around 7am–8am) and continuing until the evening (around 8pm–10pm). It loops between Elias Green and Pasir Ris MRT, and the journey is just a few minutes.

That said, the exact timing can vary slightly depending on the day and management’s schedule, so it’s best to:
• Check directly with the condo’s management office or guardhouse
• Look out for the schedule displayed at the lobby or clubhouse
• Or ask a current resident if you’re viewing or moving in

Need help reaching out to them or arranging a visit? Let me know.

Aren Goh | PropNex | 96576701  Read More

check with mcst / management :)

WhatsApp me at: ABLE Toh (65) 9856-9255  or through this link.:https://wa.me/6598569255

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SOUTH Region //

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EAST Region //

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QUOTE OF THE DAY " In negotiations, the most important thing is not to win or lose, but to find a solution that is mutually beneficial." Read More