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Thread: LOOPHOLE UNEARTHED - Pvt ppty owners can get HDB

  1. #1
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    Default LOOPHOLE UNEARTHED - Pvt ppty owners can get HDB

    Quoted frm hdb web:

    A transfer of flat ownership refers to a change of flat ownership between family members. The change of ownership is without monetary consideration and is by way of gift on grounds of love and affection.

    Who Can Apply for a Transfer of Flat Ownership?

    As a flat owner, you may transfer your flat ownership to other family members, subject to the HDB eligibility schemes and eligibility criteria.

    A maximum of 4 owners are allowed for each flat

    If there are 2 or more flat owners, they can choose to own the HDB flat under joint tenancy or tenancy-in-common
    Types of Transfer
    The different types of transfers include:
    Inclusion of co-owner(s) (e.g. A to A & B)
    Deletion of existing co-owner(s) (e.g. A & B to A)
    Substitution of co-owner(s) (e.g. A & B to A & C)
    Outright transfer of owner(s) (e.g. A to B)


    Relationship

    A flat owner may transfer his flat ownership to his spouse, parents, children, siblings or other blood relatives eligible to be included.

    Citizenship One of the proposed owners must be a Singapore Citizen. The others can be Singapore Permanent Residents (SPRs). The proposed flat owner(s) can be either a Singapore Citizen or a Singapore Permanent Resident (SPRs).
    Age The proposed owner must be at least 21 years old.

    Ownership of Private residential Property
    (including HUDC flat and properties located in Singapore or overseas)

    A current private property owner is allowed to take over the ownership of the flat only if :

    The required occupation period of the flat is fulfilled (to exclude the sub-letting period or any non-occupation period of flat)

    The private property owner continues to stay in the HDB flat upon transfer of flat ownership.

    An ex-private property owner who has disposed of his/her private property will not be eligible to own a flat within 30 months from the date of disposal. However, he/she can still be included as an occupier. He/she would be eligible to become an owner or an essential occupier after the 30-month period has been fulfilled. For resale applications submitted before 30 August 2010

    A private property owner is allowed to take over the ownership of the flat on the condition that he/she continues to stay in the HDB flat.


    For resale applications submitted on or after 30 Aug 2010

    A current private property owner is allowed to take over the ownership of the flat only if :

    The required occupation period of the flat is fulfilled (to exclude the sub-letting period or any non-occupation period of flat)

    The private property owner continues to stay in the HDB flat upon transfer of flat ownership

    The 30 months debarment on a person who disposes of any private property prior to the inclusion is not applicable to the transfer of non-subsidised flat. However, a person who has disposed of his/her private property within 30 months before date of transfer application is not eligible for an HDB housing loan. If a loan is required, the proposed owner(s) may apply for a loan from the bank or financial institution licensed by the Monetary Authority of Singapore to provide housing loans.
    Assessment of Income Assessment of income is required if the proposed owner is NOT an original occupier. Assessment of income is not required.

    If the proposed owners wish to request for a written confirmation on their eligibility to take over an HDB flat by way of transfer, they can submit their request online.

  2. #2
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    Long story short, get a blood relative to buy a hdb on your behalf (you pay of course) then transfer to you after mopping. You must stay in the hdb though. And you are allowed to hold on to all your pvt ppty.

  3. #3
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    Wow mcm, you powerful man!
    Can you provide the link to the webpage?

    Like that I got hope.
    Must stay in HDB, means NRIC address must be the HDB address, right?
    If I don't physically stay there but leave the flat vacant, is it ok?

  4. #4
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    Quote Originally Posted by mcmlxxvi
    Long story short, get a blood relative to buy a hdb on your behalf (you pay of course) then transfer to you after mopping. You must stay in the hdb though. And you are allowed to hold on to all your pvt ppty.
    Relative must b real desperate or truly love u to give up their HDB chance.

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    Quote Originally Posted by hyenergix
    Relative must b real desperate or truly love u to give up their HDB chance.
    Depends lah.
    If they are no longer in Singapore, they may not want the flat.

    Btw bro mcm, does the person whom the flat is transferred to need to pay ASBD if they are already owning 2 or more properties?

  6. #6
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    Quote Originally Posted by buttercarp
    Depends lah.
    If they are no longer in Singapore, they may not want the flat.

    Btw bro mcm, does the person whom the flat is transferred to need to pay ASBD if they are already owning 2 or more properties?
    Also, can transfer only after 5 yrs! This loophole could be plugged by then.

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    Knew it long time ago...

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    Also, the pte prop owner need to stay in the hdb. Meaning the hdb cant be rented out whole. Then wats the point?

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    Quote Originally Posted by leesg123
    Also, the pte prop owner need to stay in the hdb. Meaning the hdb cant be rented out whole. Then wats the point?
    Just keep, later then sell.
    Btw, for the person who receives the HDB, is the MOP 5 years as well?

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    Quote Originally Posted by buttercarp
    Depends lah.
    If they are no longer in Singapore, they may not want the flat.

    Btw bro mcm, does the person whom the flat is transferred to need to pay ASBD if they are already owning 2 or more properties?
    I believe since its a gift there is no duty of any kind payable. duty free shopping.

    link

    http://www.hdb.gov.sg/fi10/fi10326p....tiveTabContent

    but stamp fees cannot siam la
    Last edited by mcmlxxvi; 13-12-12 at 00:30.

  11. #11
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    Quote Originally Posted by buttercarp
    Just keep, later then sell.
    Btw, for the person who receives the HDB, is the MOP 5 years as well?
    never say leh, just say must stay in it.

    who will take over then immediately sell? pointless right

  12. #12
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    what about the other way round.
    parents transfer private to son. fully paid.
    parents then wait till they can buy hdb again. then purchase and stay in hdb.
    son buys another private and take up loan. would that be 80%?
    son rents out one private.
    Yee ha! Did I tickle your funny bone?


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    Quote Originally Posted by ecimbew
    what about the other way round.
    parents transfer private to son. fully paid.
    parents then wait till they can buy hdb again. then purchase and stay in hdb.
    son buys another private and take up loan. would that be 80%?
    son rents out one private.
    1. Buy resale no problem. Wait 30 mths for new.
    2. Yes. 80%

  14. #14
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    say a parent give away their HDB can immediately buy new one?

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    Quote Originally Posted by lajia
    say a parent give away their HDB can immediately buy new one?
    Why not, if its RESALE one can purchase as many as they like in a lifetime but hold only one at any one time and max one new resale per every 5yr MOP, no?

    If it's NEW BTO, then they can if they are second timer (means the gift was their first and only so far).

  16. #16
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    aiyo ... I welcome the loopholes ... anyone want to enter FORWARD 2016 contract with me to buy my HDB at 1m ... near MRT
    Ride at your own risk !!!

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    You know what is solution to that ? Just rent out the rooms individually to different tenants under room rental. As long as you don't lease out the flat as a whole unit should be safe.
    Quote Originally Posted by leesg123
    Also, the pte prop owner need to stay in the hdb. Meaning the hdb cant be rented out whole. Then wats the point?

  18. #18
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    Quote Originally Posted by mcmlxxvi
    Why not, if its RESALE one can purchase as many as they like in a lifetime but hold only one at any one time and max one new resale per every 5yr MOP, no?

    If it's NEW BTO, then they can if they are second timer (means the gift was their first and only so far).
    Knew about this - Dont think its doable as HDB will deem an outright transfer as a sale and require the new owner to sell PC

    U can call HDB and ask

  19. #19
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    Quote Originally Posted by ecimbew
    what about the other way round.
    parents transfer private to son. fully paid.
    parents then wait till they can buy hdb again. then purchase and stay in hdb.
    son buys another private and take up loan. would that be 80%?
    son rents out one private.
    $40k stamp duty and legal fees worth it just to get a resale HDB with high COV and no grant?

  20. #20
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    Quote Originally Posted by Rein
    $40k stamp duty and legal fees worth it just to get a resale HDB with high COV and no grant?
    You have a point la. In today's market, even if your blood(y) relative gift you the HDB, they still have to buy a replacement one - at high cost. Unless you reimburse them the differential lor to beat the system hold HDB after got PC.

  21. #21
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    Can advice cost if take out name as co-owner of HDB flat to buy Private. HDB fully paid.

  22. #22
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    Your blood(y) relative will turn to ugl(y) when come to mone(y), sad to see it if happen

  23. #23
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    so many can't see people good in this forum

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