Asked by David Tay
Hi there,
I cannot buy a private property now as I have not fulfilled the Minimum Occupation Period by HDB. I understand that I can buy a property in trust under my relative's name and I have the following queries:
1) When I fulfilled the Minimum Occupation Period and want to transfer the property back to me, how much is usually the transfer fees? Is it a percentage of the value of the property?
2) Are there any other costs doing this transfer? Like stamp fees or legal fees?
2) When I execute this transfer, does it automatically mean that I am the second owner of the property?
Please advise.
I cannot buy a private property now as I have not fulfilled the Minimum Occupation Period by HDB. I understand that I can buy a property in trust under my relative's name and I have the following queries:
1) When I fulfilled the Minimum Occupation Period and want to transfer the property back to me, how much is usually the transfer fees? Is it a percentage of the value of the property?
2) Are there any other costs doing this transfer? Like stamp fees or legal fees?
2) When I execute this transfer, does it automatically mean that I am the second owner of the property?
Please advise.
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