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Happy lunar new year to you!

By the way, do take note that even transfer of ownership by gift will also incur stamp duty on your mom's 50% and legal fee. Your wife must be financially capable to return the CPF OA funds plus accrued interest that your mom had paid for it.

Care to share why do you intend to include your wife's name into the HDB's ownership?

Secondly, I feel that it's a good option to purchase a private property solely under your wife for passive (additional) income at the meantime. Because if I am not wrong, if she takes over your mom's ownership, she has to fulfill MOP before can purchase a private property but not to worry this won't be applicable to you.

So why tie down her with MOP? Go for additional income!

Probably you will like to share more with me so I will be in a better position to advise and assist you further. Cheers!

Warmest Regards,
YT Tan
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More

Hi,

Transfer of 50% ownership in HDB (even by gift) will also incur stamp duties and legal fees, this can't be avoided. Your wife also needs to have funds to return the CPF utilized + accrued interest by your mum for the current flat, if you were to transfer your mum's name out.

From your limited info, the best option thus looks like getting your wife to purchase the condo on her sole name, which avoids ABSD.. Yes you are right in that if she gets hdb ownership after owning a condo, she needs to sell away the condo. Is there a strong reason to do so?

Perhaps you can share more details so I can make better recommendations on the best way to approach this. Thanks and hope to value-add to your investment plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

HDB ownership is joint tenancy, it means every name under it has equal shares. So don't have share weightage. You can just go to HDB HUB with your wife to include her name.

But if you have money to invest in 2nd residential property, do not include your wife in the HDB. Let her buy the condo to avoid the 7% ABSD.

This is the best option. But there must be utmost trust between the wife and you. Keeping fingers crossed, if the marriage broke up, your wife gets to keep the condo all by herself and of course you also safeguard your HDB with your Mum. Read More

Hi Sir,

It is recommended that your wife to purchase the private condo under her own name for you to save on the ABSD and also to enable you to generate a passive stream of income from rental. However, this will also depend on whether she is able to secure a sufficient loan based on her single income stream. You may want to draft up a proper financial plan based on how much she can borrow before proceeding further.

Please feel free to contact me at 9644 4854  so that I can understand your needs and discuss further.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nicktan@propertyavenue.com.sg
(W) www.nick-tan.com / www.propertyavenue.com.sg

Testimonial from Satisfied Clients (2015)

“Nick from Property Avenue has conducted himself ethically and professionally when handling the sales of our property. Thanks to his patience and perseverance, we managed to secure a sales price beyond our expectations.

We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House)

“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer of HDB)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer of HDB)

“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’t have known. I think this is the most important virtue to be successful in this line. I will surely recommend him to anyone who needs his service because I trust that they will be equally satisfied!!”

Mr and Mrs Chan (Sold and Bought through Nick) Read More