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My child is a student & will be 21 next month. Can I buy a small condo unit under his name? If he would to sell it a few years later,how long he needs to wait before he can 1.apply for BTO/resale flat respectively 2.be included as co-owner of my existing HDB flat? Thanks.
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2 Answers

Hi Johnson,

1. You may buy a Private Property under your child name as long as he/she is age 21 & above upon documentation period.

2. To sell away the property, you must be aware that for all private property bought on/after 14 Jan 2011, there is a Seller Stamp Duty payable. Ranging from 16% to 4% within first 4yrs. (Refer to IRAS)

3. For BTO application, there is a 30 mth Time Bar to observe after disposing your Private Property. (Refer to HDB website for more details under Buying New Flat)

4. For Resale, if you wish to include your child under you Resale HDB as co owner after owning a private property, the private property must be dispose within 6mth upon the insertion of child name.

Hope the above does clarify you doubts.

Shall you required more information, pls feel free to ring/sms/email me.

Regards,

Jaslin
Hp : 8333 9131 
Email : jaslin_poh@ymail.com Read More
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Hi,

Regard to your question. Why not you just drop me an email at ot1984pierre@gmail.com or Contact me @ +65 8 2 7 9 8 3 2 7

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