Advice needed - decouple UnderCon Private

[Ronan Loh]

We bought a new launch 2 years ago .

This 2 bedded is still under construction & progress of payment is about 30% currently. And my wife is the solely borrower for 60% loan.

Can I sell my share to my wife , as to remove my name ?


If can, need to pay any ABSD , .........?


Thanks

[sporadic]

We bought a new launch 2 years ago .

This 2 bedded is still under construction & progress of payment is about 30% currently. And my wife is the solely borrower for 60% loan.

Can I sell my share to my wife , as to remove my name ?


If can, need to pay any ABSD , .........?


Thanks

Not sure about ABSD, as not sure if that's your wife's first property, her citizenship etc., but you need to pay SSD for sure.

[Ronan Loh]

I learn from forum that decouple is applicable to completed project



2) Just check whether is it applicable to UnderCon house as well?


3) This new hse is our 2nd pty.
If can decouple, we will dispose our HDB (1st pty)
By then, my wife own 1 private , as for myself own nothing & plan to purchase as 1st owner.

[evolutionx]

I learn from forum that decouple is applicable to completed project



2) Just check whether is it applicable to UnderCon house as well?


3) This new hse is our 2nd pty.
If can decouple, we will dispose our HDB (1st pty)
By then, my wife own 1 private , as for myself own nothing & plan to purchase as 1st owner.

make sure your individual salaries can service each loan comfortably, otherwise you are taking a very big risk by decoupling.

strongly suggest consulting a lawyer and getting something in writing, as opposed to asking on a forum, to protect your own backside! always safer not to mess with the taxman.

[yowetan]

Hi...it is possible.

I did it before TDSR implementation; now I believe it should be tougher.

Unless your income is huge, else the loan disburse to you will be insignificant.

[CondoWE]

Hi...it is possible.

I did it before TDSR implementation; now I believe it should be tougher.

Unless your income is huge, else the loan disburse to you will be insignificant.

Your is HDB decouple whereas his is BUC condo decouple hor...not the same story..!

[CondoWE]

I learn from forum that decouple is applicable to completed project



2) Just check whether is it applicable to UnderCon house as well?


3) This new hse is our 2nd pty.
If can decouple, we will dispose our HDB (1st pty)
By then, my wife own 1 private , as for myself own nothing & plan to purchase as 1st owner.

Assume decouple is possible, you and your wife may need to pay SSD for both as seller (SSD if sell b4 4yrs) and buyer.

Anyway, I also agreed to bros evolution's suggestion.. better to consult a lawyer before doing it .

[Allthepies]

There a reason why government is imposing so many rules... Be wary....

[sherlock]

Decoupling doesnt guarantee you'll make money even without paying ABSD and SSD if prices start to come down. And anyway both are not permanent.

[CondoWE]

Decoupling doesnt guarantee you'll make money even without paying ABSD and SSD if prices start to come down. And anyway both are not permanent.

Totally agreed .