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Good evening, 30 months + 3 years construction period plus 5 years to fulfill MOP, total is 10.5 years. In my personal opinion, its a bad move as your son will be restricted and potentially miss out on any good property deals out there in a time frame of 10 years. Hope my opinion is beneficially value added to your decision. If you have any other property needs, feel free to contact me. Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

Hi WT, why does he need 5-yrs minimum occupational period since his joint ownership is with a private condo, isn't it and not a hdb. So it should be 30mths? Am not sure about the added 3years if the name is to be taken out immediately. Appreciate your explanation. Tks. Read More

Check on the transfer costs with your legal advisor and other added cost like buyer's stamp duty when you take over your son's share, as well as bank re-evaluation of the mortgage status. He can then wait for 30mths and do check hdb info website on his eligibility. B/rgds Melissa Tye/DTZ Tel: 97309449  CEA Regn no. R022394A Read More

Dear Melissa, If you are familiar with EC regulation, one must occupy 5 years MOP before they can dispose their EC or invest in private property. So even the son disposes off his interest in this private property, he has to wait 30 months before he can apply for a new EC. EC construction period is about 3 years. So its 2.5 years waiting period + 3 years construction period + 5 years MOP, this is the period he can't invest in any private residential property. Hope it helps. If not, do ring me up. Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More

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