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Hi,

In order for you to remove your name from the HDB flat, your parents will have to be eligible to hold onto the HDB flat under one of the HDB Eligibility Schemes. They will also need to take up the balance outstanding loan under their names, as well as refund all the CPF monies (plus accrued interest) that you had utilized from your CPF-OA.

If they are unable to secure a sufficient loan, or unable to pay back your CPF monies, you will not be able to remove your name from the flat.

The only way for you to get out of this situation would be for all of you to sell the flat, and then from the proceeds, your parents to purchase their own smaller 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
 9748 6305 
PropNex Realty Read More

Hi,

1) To appoint a Power of Attorney, it is advisable to appoint a lawyer in Singapore to ensure no further hiccups in terms of paperwork. The lawyer overseas might not be well-versed with the requirement in housing-related matters.
2) You can find the one who will be your Power of Attorney to source for a lawyer to draft out the requirement document, and courier it over to you.
3) You just need to find a Singapore embassy locally and get them to witness the signing of this legal document. They are well-versed and properly familiar with the procedures.
4) The difficult part here is the flat is not fully paid for. And your parents might not be able to take over your share.
5) They will have to approach the current financial institute or HDB to seek advice on whether they could top up their loan amount to take over your share.
6) I guess this is the first step they have to take before we discuss the amount needed.

Hope the above answer your main concerns, but if there are more query, 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/
https://www.facebook.com/Homesellerbuyer

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