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Years ago before ABSD, father was staying in a fully-paid HDB flat, then bought a condo and rents out the HDB flat until today. He then sold the condo and bought another condo (fully-paid) with his son and puts son’s name on the current condo. Today, 5-6 years later, son wants to buy the HDB flat that father owns. Is there a property or name transfer process or what do you advise?
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9 Answers

Hi, appreciate your sharing. Sorry to share have to sell away the condo upon HDB completion due to latest HDB ruling. Able to share various options and advise if require
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

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Robbie Chen Chee Howe
Hi,

If the son is below age 55, he will not be able to "buy over" the HDB flat from his Father. He will first have to meet HDB Eligibility Conditions, and if met, dispose off his current condo and then wait out 15 months before being able to purchase the HDB flat.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
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Hi,

If you are below 55 years old, you will first need to fulfil hdb eligibility conditions, and if eligible, need to sell away the private property, wait out 15 months, and thereafter can buy over the hdb due to latest regulations. Doesn't seem worth the hassle if your goal is to hold on to both properties eventually.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

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  • ZB
    Thanks for your reply. Is there a way for us to swap name of property through a lawyer?
Is there any reason for such a transfer or takeover or purchase? Base on existing regulations, there is no way for this to take place unless it is due to inheritance. Read More
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Hi Sir/Madam

I will be glad to assist
I am well versed in HDB and have done many transactions
Appreciate if you can contact me at (65) 96608508  with details of your unit
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.

Warmest regards,

Silvia Yang

Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com Read More
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Hi,

1) The son who co-owns the private residential property has to observe the 15-month wait-out period before being eligible to buy a resale HDB flat. This is assuming the son meets the eligibility criteria spelled by the HDB.
2) If this condo is doing a part-share selling to his father, his father will be subjected to the 20% ABSD for the share bought.
3) Name transfer is as good as doing part-share selling.
4) The only way not to incur additional costs in the buying-selling process, and the long waiting time is for the son to buy over the condo part-share from the father.
5) Do be aware that transfer via gift also will be subjected to a gift stamp duty which has the same rate as buyer stamp duty.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer 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://R056727F.propnex.net/
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https://www.linkedin.com/in/ckling/

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"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT :)

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