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Asked by tina 4 Mar 2013

me & my bro owned a condo and he wanted to buy a hdb on his own but he cant. can i take over his ownership in th condo so that he can buy a hdb instead?

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Mike Lim · Answer 1 · 2013-03-05T10:17:58+08:00

Mike Lim

Replied 5 Mar 2013

Morning Tina,

You can do a transfer of ownership so that your brother will no longer be the owner of the condo. There will be cost incurred due to the mortgage holding, legal and stamp duties.

As for your brother, he will only be eligible for resale HDB unit with bank loan.

Do feel free to contact me for further discussion.

Regards
Mike Lim
96929209
m52i@yahoo.com
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