Asked by
Name Transfer

We intend to sell our condo under me and my wife's names and apply for a BTO (downgrading). But we do not want it to end up renting a house during the 30-month wait time.
In this case is it possible to transfer the condo under our child's name now, and stay in current condo for 30 months, and then apply for BTO?
If possible, the CPF used for condo will be refunded to child's account or our accounts?

Thanks for the advice.
0
259 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great weekend ahead. By the way, can I have more info of your Condo and unit detail so that I can find out about the unit rental value on your behalf alright?

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Hi,

Unfortunately no, the 30 month wait out period still applies after transfer and its not possible to transfer the property to his or her name if he/she is below 21 years old. You may want to consider selling this to a property investor who can lease back the property to you for the next 30 months. There are also other BTO eligibility conditions to fulfil such as income ceiling not to exceed 12k per month and also not to have enjoy 2 subsidized housing.

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
ERA Top 600 Achievers in Year 2017 (Top 10%)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5%)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
FB: facebook.com/ASAProp
W: ivanng10.com/clientreviews
(Client's Testimonials)

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More
0
Joanne Chia 谢诗琳
Good day sir / madam .

You and your spouse CANNOT queue for BTO until AFTER 30months of the sales or transfer of the private property .

You will NOT be collecting any cash or cpf in a transfer transaction .

Cash and cpf will be paid to you and your spouse when your private property is sold , the buyer can be anyone else , or your child can buy your condo if he wants and can afford to buy over your property .

You can consider buying a resale hdb while you sell your condo , it will be a smooth transaction , no need to wait out 30 months , no need to rent , no need to shift twice .

I am NOT able to contact you directly as i do NOT have your contact.

Kindly contact me Joanne Chia at my handphone +65 8333 3327  for a no obligations chat for your property needs.

My charges are 1% commission for exclusive ( sole agent ) selling rights to your property or 2% for open listing ( many agents ) .

NO COMMISSION CHARGEABLE WHEN I SERVE PRIVATE PROPERTY BUYERS.

Joanne chia
Email : Chia_joanne@yahoo.com.sg
Handphone +65 8333 3327  Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions