Transfer existing joint-name property to a single name

[ipoh-horfun]

Can I transfer my existing joint-name property to a single name?

Existing is joint with wife to transfer to mother.


If so, just lawyers stamp duty involved?

 

[Ahwing]

Re: Transfer existing joint-name property to a single name

iirc, transferring of names is considered a sale, hence sales price must be worked out and stamp duty is involved.

 

[jasonmaxima]

Re: Transfer existing joint-name property to a single name

anything can be transferred.... but a good lawyer will be able to advise you best.

so you need to worry less and post more in NSFW folder.... kum xia many many

 

[ipoh-horfun]

Re: Transfer existing joint-name property to a single name

anything can be transferred.... but a good lawyer will be able to advise you best.

so you need to worry less and post more in NSFW folder.... kum xia many many

haha.
i only post real qualities ones now.

 

[ipoh-horfun]

Re: Transfer existing joint-name property to a single name

anything can be transferred.... but a good lawyer will be able to advise you best.

so you need to worry less and post more in NSFW folder.... kum xia many many

Thanks. so cant just pure transfer w/o sale?

 

[toiletsiao]

Re: Transfer existing joint-name property to a single name

what ahwing said is correct...transfer of name is considered a sale...stamp duties is definately involved..but its onli on the portion u transfer..lets say u transfer 50%..stamp duty applies to that 50% only......i just did a similar transaction last yr....it will be more straight forward if u got no bank loan involved(bank penalty charges might occur depending on your loan agreement)....

 

[kelvinyong]

Re: Transfer existing joint-name property to a single name

Yup, and sale price can't be too low cos it affects

1. Your loan anount
2. Min sale price is the valuation amount ...


Hope it helps.

 

[Zack45]

Re: Transfer existing joint-name property to a single name

You can do a transfer of property.Which involves land registry only and only pay a legal bill, though consent of your lender is normally sought and free. Though you remain legally responsible for the mortgage and its payments.....

 

[C3P0]

Re: Transfer existing joint-name property to a single name

And I think CPF is a consideration too if your wife has used CPF to pay for the property.