AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
My brother and I bought a hdb flat under the siblings scheme 8 yrs ago. We plan to transfer my brother's share of the hdb to me as he is married and will move out with his wife. Will the mop be reset back to 5 years after the transfer?
0 •
1306 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

Mike Lim
Replied
Evening Ms. Lim,

Since you are the original owner of the unit, the MOP will not be reset back to 5 years. However, we might need to check how the seller stamp duty will affect you if you should sell your unit with 4 year from the transfer date.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted
Ally Chin
Replied
Hi Ms Lim

Thanks your question.

If the flat is by way of Gift to you then mop period no need to re-count.

The other way is you need to sell and buy part of his share and mop starts counting from completion day.

However both have its challenges though. =)

Please do not hesitate to let me know should i can be of further assistance.

Ally Chin
Associate Team Director
CEA No.: R010439Z
Propnex Realty P/L
M: 81122213 
E: cwsally@yahoo.com Read More
0
Upvote Upvoted
  • LP
    Replied
    Thanks for your advice. may I know which way is better in terms of fees involved? If by transfer, can I refund my brother's CPF from my CPF or have to be by cash?

    I will prefer to do a transfer since MOP will not need to be reset.

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions