I found a buyer for my 50% share. I need information about how to go about.
You will need a conveyancing lawyer to effect the transfer.
Do note a Buyer's Stamp Duty (BSD) and Seller's Stamp Duty (SSD) may be imposed on the buying and selling of your 50% share.
The SSD rates are as follows:
Date of Purchase Holding Period SSD Rate (on the actual price or market value, whichever is higher)
On or after 12 Jan 2013 Up to 1 year 15%
More than 1 year and up to 2 years 10%
More than 2 years and up to 3 years 5%
More than 3 years No SSD payable
Hope this answers your question.
This is my contact for conveyancing lawyer if you don't have one yet..
Amanda from APAC Law 8183 2900.
Hope it helps,