Tightened rulings on Transfer of Ownership

Tightened rulings on Transfer of Ownership

Source : The Business Times



Previously, a HDB owner was allowed to undergo a “decoupling” procedure with their spouse (co-owner) and took out either party’s name from the ownership of the HDB flat. The co-owner whom is withdrawn from the HDB property is free to purchase a private residential property as his or her first property. However, recently HDB has tightened its rulings and restricts transfer of ownership between married couple. Transfer of ownership is only possible under special scenarios such as renunciation of citizenship and divorce cases.


With the restrictions on transfer of ownership, HDB owners can no longer purchase a second private Singapore property and avoid the Additional Buyer Stamp Duty at the same time.



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