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My HDB is now under both my father and my name. I am planning to buy a condo with my wife, (both my wife and myself are citizen.)

Can i ask HDB to take my name away? So that I can buy the condo without ABSD?

Thanks
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7 Answers

Hi,

You can do a transfer of ownership for your dad but he needs to return the CPF utilized + accrued interest you have utilized for the current property. He must also be eligible and financially equipped to keep the HDB flat on his own name.

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 Realtor
ERA Senior Marketing Director
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I would like to compliment Mr Ivan Ng for his professional work and effort.I sent my first post in Jan 2019 and Ivan replied promptly, so I have decided to contact Ivan for follow up. My EC was not ready for sale due to MOP (another 3 months from Jan) at that time and Ivan was able to give me advices on how to proceed from there. Initially we have decided to try to write to HDB for early sale but since it was only 3 months left, eventually we waited for another 3 months while we looked for our next property. Ivan was able to arrange for new property showroom appointment at a timely manner while helping us to list for our EC for sale. We were a bit worried when our EC sale time was longer than expected due to trade war, but Ivan was able to reassure us that our EC would sell. By November, he managed to secure a buyer for our EC. Thank you.

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-- HDB Jurong West 5-RM Sellers, Exec Apartment Purchasers, Lenz & Michelle --

We would like to thank you for ensuring a smooth and well-explained process throughout the whole selling and buying of our property. We got to know you thru Property Guru, where we are scouting for condo around West area. We remember that we are quite tight in our budget in purchasing the condo unit,but you are still very willingly explaining and calculating our financial liabilities. You are always having your smiles whenever we met for discussion.

We appreciated your process of selling and buying of our property are very systematically and well executed, from financial calculation to the purchase procedure of our new house. We are always being updated thru our group chat during the engagement of your service.

We would never expect such a smooth sailing experience of selling and buying of property. Your professionalism in work will definitely be remembered and rewarded. All the best in your property venture! Read More
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Hi
Yes you can transfer the ownership to your dad provided he refunds your portion of principal plus accrued interest if you use CPF to finance the flat. Your dad can make use of his CPF OA to finance the refund subject to CPF restrictions or a housing loan of he qualifies. Do contact me at 93375051  for a free and non obligatory discussions on this. I will do my best to assist.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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Dear Sir,

I have assisted my client who is in a similar situation before. You may approach the HDB branch office for assistance. However, your father will need to take over the loan (if any) and also return you the CPF that you have used so far for the house.

Please feel free to contact me so that I can understand your situation and provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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http://bit.ly/buypropertyguide

Testimonial from Satisfied Clients
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”
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Hi Sir

I will be glad to assist
I won't be able to contact you first as I do not have your contact, appreciate if you can contact me at (65) 96608508  or Silviayang8@gmail.com with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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Robbie Chen Chee Howe
Hi Sir,

It is possible. Do take note that upon the transfer of the flat, your Father will have to pay back into your CPF the amount that you had utilised for the flat, plus accrued interest. If there is still an outstanding loan, his age and income (MSR) must also be able to support the loan.

If your plan is to avoid paying the hefty ABSD, I do have a suggestion for you to consider. This plan may not work for everyone, hence I will need to understand more from you in order for me to make the proposal.

I am experienced and well-versed in both HDB resale and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
0
Dear sir,

Removal of your name from the current HDB is done through transfer of ownership or part sale of the property. All transfer or part sale cases are subjected to approval by HDB on a case to case basis. As my fellow professionals have indicated, in the event that the transfer or part sale is approved, your mum will be required to refund you whatever amount of CPF you have utilised plus accrued interest, and where applicable, be eligible to secure the home loan required to pay off the outstanding loan.

In the event that you are open to the option of selling the current place, and use the proceeds of sale for your mum to secure a smaller HDB while you go for the private option, this can be workable too. We can discuss more about what are the possible options moving forward through financial analysis before you embark on the process.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
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Mani Subramanian Veeramani
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