AskGuru Q&A Community

HI, there should not be any ABSD occurring for your portion of the property. It should be mainly ABSD on her portion of the property. It is best to check with your lawyer on this, as matrimonial proceedings might go a bit more differently.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me .

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More

Hi,

There is ABSD payable, based on the market value of the 1% share (of your wife's) to be bought over. As you are buying more shares of the same property you already own, it will still be considered as 1st property, so the ABSD will be 5% on this 1% share since you are SPR. To my understanding there is no need to look at the 99% anymore.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
ERA Multiple Diamond Award Achiever

SEAA Salesperson Achievement Award (Gold)
SEAA Singapore Accredited Mortgage Planner (SAMP)

ERA Top 11th Achiever in Feb 2024 (Top 1% Company Level)
ERA Top 64th Achiever in March 2024 (Top 1% Company Level)
ERA Top 37th Achiever in Oct 2023 (Top 1% Company Level)
ERA Top 93th Achiever for Full-Year 2020 (Top 1.5% Company Level)
ERA Top 11th Achiever in June 2020 (Top 1% Company Level)

SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.

Contact: (+65) 97432395 
Whatsapp: wa.me/6597432395
Email: Ivanng10@gmail.com
IG: instagram.com/ivanngrealtor
WeChat: ivanng10
FB: fb.com/IvanNgRealtor
Web: ivanng10.com/clientreviews
(Client's Testimonials)
CEA: R052114D

**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! ** Read More

Hi, appreciate your sharing. Best to consult law firm before taking action.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes there be ABSD involve.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

It is unlikely. The ABSD is likely based on the 1% that you will be purchasing over, however, it will still depend on the final judgement from the divorce proceedings and may not be as straightforward. Speak to your lawyer handling this for you.

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Senior Division Associate Director
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
 +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

-----

Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

-----
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

In Singapore, you likely won't have to pay Additional Buyer's Stamp Duty (ABSD) on the 99% share you already own in your condo during the divorce process. Here's a breakdown:

**ABSD Remission for Matrimonial Proceedings:**

Singapore offers ABSD remission for property transferred between spouses due to matrimonial proceedings (divorce). This applies as long as certain conditions are met:

* The property is the couple's matrimonial home.
* There's a legal document (court order) for the transfer of ownership.

**In your case:**

* You already own 99% of the property.
* You're transferring the remaining 1% to yourself as part of the divorce settlement.

Since you're acquiring ownership through a divorce settlement and not a new purchase, ABSD remission should likely apply on the 1% share being transferred.

**Recommendation:**

* Consult a lawyer specializing in property law and divorce settlements. They can review your specific situation and confirm the ABSD implications.
* They can also advise on the legalities of transferring ownership and ensure the process is completed correctly.

Here are some additional things to consider:

* **Capital Gains Tax:** There might be capital gains tax implications depending on the property's purchase price and current market value. The lawyer can advise on this as well.
* **Documentation:** Have all the necessary documents related to the property purchase and the divorce settlement readily available for the lawyer's reference.

By consulting a qualified lawyer, you can gain peace of mind regarding the legalities of property ownership transfer during your divorce and avoid any potential tax surprises.
------------------

"If you need more assistance with property matters:

like renting / selling, buying / or investing, I'm here to help!

WhatsApp me at: ABLE Toh>>9856 9255 or through this link.:https://wa.me/6598569255

(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )

You can check out my reviews here: https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.

For buyers, I offer solutions for sourcing resale and new private homes at no charge.

I can connect you with reputable bankers for private housing loans free of charge and with no obligation.

I also have partners to assist with mortgage home insurance matters.

Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!

*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.

From: ABLE Toh- Your Property ASSISTANT ：）

“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”

XXXXX The End XXXXXXX Read More