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My dad want to transfer to me his ownership of a HDB flat he owns with my mum (50%). Do I have to pay Stamp Duty for the transfer? If yes, would it be based in 50% of the valuation (eg. if the flat is valued at $100, I will pay stamp duty based on 50% of 100K, i.e. $50K)?

What if I have an existing property? Do I have to sell my property? If I want to keep my existing property, does it mean I have to pay Additional Buyer Stamp Duty (another 7%)?

Thank you for advice
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1 Answer

Ivan Ng
Replied
Hi,

Firstly, there must be a valid reason for the transfer of ownership which you need to check with the HDB branch for approval. Assuming no issue, yes stamp duty of 10% (BSD+ABSD) is typically payable based on the market value of share transferred, if you already owned a residential property.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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