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Previously i bought a private condominium for investment with my friend (50% ownership each) and now i intend to sell my 50% shares to him. May i know the legal implications? Do i have to sell to him at cost and is there any seller stamp duty payable on my end?
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2 Answers

YT Tan (陈永达)
Replied
Happy new year to you!

Normally for such cases, you will sell the shares to him at market value provided he is financially capable of taking over your 50% ownership.

If your ownership period is within 4 years from purchase, you will be subject to seller's stamp duty.

I can introduce my law conveyancing manager as he will be the best person to advise you on this. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
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Ivan Ng
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Hi,

He needs to be able to finance the property on his own, and relevant stamp duties will apply. (Seller stamp duties for you if within 4 years of holding, and buyers stamp duty for him). Alternatively, both of you may wish to offload the property if you are already sitting on paper profit. Thanks and hope to assist further and value-add.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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  • MN
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    Thanks for the reply. Actually, would it be possible for me to just transfer my 50% ownership to one of my parents? Will there be any costs involved in this case? (i'm hoping to get a private condo on my own and hence would like to remove my name from the existing property)

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