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Hi, appreciate your sharing. Best to check with law firm and HDB on this matter.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

You will need the advise from law firm or perhaps even medical professional to certify the capacity of the 25 year old son to be able to make decision and judgement to sign on all legal documents. Otherwise there should be a deputy appointed for him to do these assuming that there is no power of attorney and lasting power of attorney done.

Speak to a law firm first to determine who is required.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market. Check out the EdgeProp featured article on myself recently at https://www.edgeprop.sg/property-news/geryl-lim-leading-landed-real-estate-heart-hustle-and-harmony

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Yes, parents can consider adding their 25-year-old as a joint owner, but there are a few important points and potential liabilities to keep in mind:

1. Eligibility & HDB rules:
• If it’s an HDB flat, HDB allows adding a joint owner under certain conditions, but all owners must meet HDB eligibility rules (age, family nucleus, etc.). They will need to apply to HDB for approval.
• If it’s private property, there’s more flexibility, but the transfer or addition will require legal processes and possibly stamp duties.

2. Liabilities for the 25-year-old:
• Property Tax: Joint owners are equally responsible for annual property taxes.
• Income Tax: If the flat is rented out, rental income must be declared. Joint owners share the income based on their ownership share, and taxes are calculated accordingly.
• Maintenance & Upkeep: Any repair, renovation, or recurring fees (for private property: condo fees; for HDB: minor maintenance fees) may be shared among owners depending on how ownership is structured.
• Mortgage/Loan (if any): If parents take a loan or refinance and the 25-year-old is a co-borrower, they’d be legally liable for repayment.
• Decisions on the property: As a joint owner, the 25-year-old will need to consent to any major decisions—selling, refinancing, renting, etc.

3. Practical considerations:
• The 25-year-old will need a clear understanding of responsibilities, especially if the flat is intended to generate income for medical and daily expenses.
• It may be useful to formalize arrangements via legal advice or a family trust/letter of wishes to avoid future disputes. Read More

Thanks for your sharing. It sounds like a roundabout way to go about some simple financial and estate planning that may unnecessarily run afoul of certain HDB policies.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support, trust that there are easier ways to go about this.

Feel free to reach out via whatsapp or email.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

Hi,

1) Your son alone will not be able to keep the flat before reaching 35 yrs old when both of you pass on.
2) This is due to the eligibility of the HDB laid.
3) If you wish that your 25 yrs old son can benefit fully from the value of the flat, you will have to set up a will to guarantee that. It will be strongly enforced if the witnesses are by your 35 yrs old son and elder daughter.
4) He will be able to receive the full resale proceeds if he is not able to retain the flat due to eligibility.
5) Adding him into the ownership will incurred additional cost such as buyer stamp duty of the allocated shares, legal fees ~$5k, all the administration cost from the HDB, SLA, etc, even without profit from the allocated shares. The minimum cost of the shares would be the amount of CPF funds utilized and accrued interest incurred used on the flat, unless the flat is bought solely with cash only.
6) Setting up Will will not incurr any of the cost stated above, except getting a letter of executorship (Grant of Probate) from the court (~$2.5k~$3k).
7) You consult a family to understand more in order to provide a financial blanket using the HDB flat for your 25 yrs old flat.
8) The consultation cost is not as much as you worry. My understanding is the 1st 15 minutes of a legal consultation is generally free. You have to check the cost with the lawyer before proceeding the consultation.
9) Prepare all your questions in sequence to avoid spending too much on the consultation cost.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://www.linkedin.com/in/ckling/
https://agents.huttonsgroup.com/R056727F/

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✔1 You should **consult a law firm** to determine whether your 25-year-old son has the legal capacity to **sign contracts and other binding documents**.

✔2 If there is **doubt about his decision-making ability**, a **medical professional** may need to certify his capacity.

✔3 Without a **Power of Attorney (POA) or Lasting Power of Attorney (LPA)** in place, a **deputy may need to be appointed** to act on his behalf for legal matters.

✔4 The law firm can **advise on the proper steps** to ensure all actions taken are legally valid and protected.

✔5 Acting early helps **avoid disputes or invalidation of legal documents** in the future.

✔6 Ensure all certifications or appointments are **officially documented** to meet legal standards.

“As Benjamin Franklin said, an ounce of prevention is worth a pound of cure.”
✔1 You should **consult a law firm** to determine whether your 25-year-old son has the legal capacity to **sign contracts and other binding documents**.

✔2 If there is **doubt about his decision-making ability**, a **medical professional** may need to certify his capacity.

✔3 Without a **Power of Attorney (POA) or Lasting Power of Attorney (LPA)** in place, a **deputy may need to be appointed** to act on his behalf for legal matters.

✔4 The law firm can **advise on the proper steps** to ensure all actions taken are legally valid and protected.

✔5 Acting early helps **avoid disputes or invalidation of legal documents** in the future.

✔6 Ensure all certifications or appointments are **officially documented** to meet legal standards.

“As Benjamin Franklin said, an ounce of prevention is worth a pound of cure.” Read More