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Me and wife have a fully paid HDB. We intend to buy another private property, but want to avoid the ABSD so am contemplating to decouple, by transferring her share of her hdb to me. Questions:
1. As she only utilized about 15k from her cpf for the hdb, does it mean we only need to put back 15k into her cpf?
2. Can this 15k be transferred from my cpf to hers, or only cash is allowed?
3. when we proceed to buy another private property under her name, assuming the transfer has been completed, is she still required to set aside the minimum sum (50% of 149k), or can she utilize all of her cpf?
4. What are the downsides of this method?

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4 Answers

Mike Lim
Replied
Morning,

For HDB unit, you need to go through the divorce process and obtain the necessary paper documents to indicate the dissolve of the marriage. Your spouse can then transfer the ownership to you. However, as it's a HDB unit, there are a few requirements which you have to fulfill:

1) Be SC aged 35 and above
2) Repayment on the CPF used, including interest, back to your spouse, either through means of your CPF deduction or by cash

After the transfer of ownership is completed, she will not have any property at hand. Hence ABSD is not applicable unless your spouse is PR. CPF minimum sum is also not required as she does not have any CPF being locked in any other mortgages.

With the current ruling, she can only apply for the mortgage loan based on her income status and name. If all falls short, the difference will have to be covered with cash.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Able S.K Toh
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Able S.K Toh
Replied
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Upvote Upvoted
Able S.K Toh
Replied
WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.

----------------------------888--------------------------------888--------------------------->>>

(1) "If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

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✅✅ https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

(3) ✅✅ For PRIVATE Home Buyers, I offer solutions for sourcing resale and new PRIVATE homes at ✅✅ ZERO charge (Because Most PRIVATE seller Agent are willing to share commission with Buyer Agent)

*** You can reach me at my Singapore mobile: @ +65 9 8 5 6 9 2 5 5

***(4) ✅ ✅ ✅ DEVELOPER SALES TEAM!!! BEST PRICES !!! ✅ ✅ NO AGENT FEES !! ✅ ✅ LOWEST PRICE GUARANTEED!!!

*** ✔✔Connect Singapore Line: ✔✔(65) 9856*9255

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