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Hi, my wife and I are SPR and we own a private property that we jointly purchased on Mar 2013. Currently both of us are applying for SC. My question is if we become SC and decided to do decoupling of the property i.e. sell my portion to my wife, does she need to pay for the ABSD? If we decide to sell on after Mar 2017 assuming there will be no Seller stamp duty? What other charges that apply for decoupling process? And how would it affect the mortgage with the bank? Thanks!
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4 Answers

YT Tan (陈永达)
Good morning!

Probably you can speak to the law conveyancing manager that always handle my cases so he can share more information and insights with you.

I can forward you an email sent by him previously touching on the topic on decoupling. Cheers!

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Hi,

As this requires a lengthy response, will be glad to share more over phone. Thanks and hope you can get in touch so we can discuss further.

Warm regards
Ivan ERA
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GAN ENG JOO ONASSIS
Hi,

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2017 still a couple of years more. Pls consult lawyer upon SC citizen obtained.. :)

Call us now, we can explore further in detail.

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Dear sir,

Do you mean only to part sell your share to your wife after she has converted into a Singapore Citizen?

Based on property count, she only has 1 property even if she buys over the shares of your property, therefore you just need to follow the regulations available on this aspect to know your liabilities. Nevertheless, administrative and legal fees shall apply for such cases if you sell after 2017 to avoid the Seller's Stamp Duty period of 4 years.

Good luck in your property portfolio restructuring.

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