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My husband and I recently bought our flat. My parents own a landed property and now want to downgrade to HDB. Can they transfer the property to me as a gift?

1. What should they do to transfer the property to me as a gift?
2. How soon after the transfer can they get their own HDB?

thanks much
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4 Answers

Hi,

Your parents would have to sell away the landed after getting the hdb. You will need to appeal to hdb for your case on whether you can hold 2 properties, but chances will be they have to sell the landed property away. Thanks and hope to assist further.

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

Email: Ivanng10@gmail.com
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(Client's Testimonials) Read More
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Robbie Chen Chee Howe
Hi, under the rules, you will not be able to take over another residential property before the 5-year MOP of your HDB is up. Hence, your parents will not be able to transfer their property to you.

If your parents want to downgrade to a HDB, they will have to sell off their landed property within 6 months of completion of their HDB purchase if they are getting a resale unit.

If they are planning to get a new BTO, they will have to sell their landed property and wait for 30 months before they can apply for a BTO flat.

Hope this information helps.

You can contact me at my mobile 97486305  if you have any more enquiries. Thank you.

Best regards,
Robbie Chen
Propnex Realty Read More
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YT Tan (陈永达)
Good morning!

I am afraid to inform you that you are not eligible to take ownership of your parents' landed as you have yet to fulfill the 5 years minimum occupation period.

If they wish to purchase a resale HDB now, they will have to sell off the landed within 6 months from completion date.

Hope my sharing is beneficial to your decision making.

If you need further assistance or advice, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com Read More
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Afternoon,

As long as you have not fulfilled the MoP requirement, you are not eligible for own your second residential property, even if you opt to decouple at this moment.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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