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Dear sir/mdm,

Was any CPF funds used for this fully paid property? If yes, then necessary refunds to the CPF account including accrued interest has to be made before the transfer. Also, is your child under 21? There are quite a number of factors unknown here in your question and it is very exhaustive to reply with all scenarios covered. In fact, you may actually check with your lawyer on the different implications. There was an article on The Straits Times yesterday regarding buying a property under trust that you maybe interested to read too.

I have been in the real estate business since 2009, with more than 13 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.

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Warmest regards,
Geryl Lim
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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 
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Hi,

1) There are typically 2 ways of transferring a property to another person:
(a) Gift
(b) sale

2) I believe you are referring to the gift method.
3) There are 4 conditions that you must be aware of when doing a transfer via gift:
(a) The receiver will be subject to a gift stamp duty equivalent to the buyer stamp duty rate.
(b) The property must be free from any outstanding loan.
(c) The utilized CPF funds + accrued interest must be returned to the giver OA before this can transfer can be materialized.
(d) The child must be at least 21 years old in order to be an owner of a property.

4) Do note the list must be exhaustive, thus it is best to consult a lawyer for the final decision. I could only provide what I could think of.
5) If this intended transferred private property is the only residential property you own, then the next property buying will be counted as the 1st property. Thus no ABSD will be incurred if you are a Singapore citizen.
6) Note that it is only the residential property that will be subject to ABSD. So all industrial and commercial properties are not counted.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, 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
9011....
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Hi, appreciate your sharing. It depends how old is your child and whether your unit has passed SSD period.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex Read More

Hi,

May I know if your child is above age 21? Also, do take note that you will have to refund all used CPF utilised (plus accrued interest) upon the transfer out.

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 +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More