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I want to share with my friend to buy a condo using his name only cos want to a avoid 40% down and ABSD.in order to protect both party,we want make an agreement, so can we do it ourself or must go through lawyer? And how much if use lawyer?
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1 Answer

Gary Yeo
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Entering into this transaction will be a very risky proposition for you as you will be "breaking" a few regulations..
1) MAS regulation of max 60% loan for 2nd property and
2) the ABSD

In Singapore, we dont practice proxy owners for properties. Therefore, whatever agreement you put up will not stand up in court. I also seriously doubt any lawyer will help you draft an agreement that will no stand up in court.

Hence, whatever written agreement that you signed with you friend may be deem Read More
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