January 20, 2022

When you purchase a HDB flat, you’re required to complete the Minimum Occupation Period (MOP) of 5 years before you’re allowed to sell your flat on the open market.   If you’re a HDB dweller whose flat is up for MOP this year and looking to make the jump to swankier new digs, here are some reasons why...

The post If your HDB flat is MOP-ing this year, is it still a good time to upgrade? appeared first on 99.co.

To protect homebuyers from over-borrowing, the Singapore government has set a loan-to-value (LTV) limit for housing loans. In a nutshell, the LTV limit defines the maximum home loan amount HDB or a financial institution can grant you as a percentage of the property’s price or market value (whichever is lower).  The LTV for bank loans...

The post Guide to loan-to-value (LTV) limits, based on type and number of housing loan you have appeared first on 99.co.

Hi, properties purchased in trust is meant to be passed on to a beneficiary (usually a child when he/she turns 21 or older). Even so, the child is now the official title deed owner of the property, not his/her parents (the trustees). The trustees' role is to administer the trust and exercise due diligence - if they fail to do so, the beneficiary can in turn sue them for failing to exercise their fiduciary duties when they grow older. Note also that if the true intention of the trustee is not to buy for the child's benefit but avoid ABSD and reap the profits, the Commissioner of Stamp Duties may come after you. Section 33A of the Stamp Duties Act (SDA) has a clause stating that in a situation where a trust is set up, whether directly or indirectly, to relieve any person from any liability to pay duty or to avoid any liability to pay duty, the Commissioner of Stamp Duties may disregard the transaction and recover the duties together with any penalties from the purchaser. So to answer your query, once a property is purchased in trust, the trustee cannot sell the property as they are not the legal owner of the property - their beneficiary is. Hope that answers your question!

These TOP condos will be completed and move-in ready in 2022; perfect for those who don’t quite fancy a resale condo and can’t wait years for a new launch condo to be completed.