Written Answer by Ministry of National Development on proposal to allow one year for disposal of the additional HDB flat for couples aged above 35 years who each own a HDB flat prior to their marriage (2024)

FAQs

Can I inherit HDB flat if I own a HDB? ›

Can I inherit an HDB flat if I already own an HDB? In short, yes. You can inherit it, but you would have to sell your interest in one of the two HDBs. This is because anyone can own only one HDB flat at a time.

Can I keep my HDB and buy a condo? Yes, you can keep your HDB. You will just need to ensure that your HDB's 5 years Minimum Occupation Period (MOP) has been met, and to pay Additional Buyer Stamp Duty (ABSD) on the condo as it is your second property.

If you have no children from your marriage, you can take over the flat under the Single Singapore Citizen (SSC) Scheme or to include another person to retain the flat. Alternatively, if the Minimum Occupation Period (MOP) is satisfied, you can sell the flat in the open market.

If there is a will, the owner can only bequeath 1/3rd of the property. The court will distribute the remaining 2/3rd of the interest in the flat, according to Faraid. If the owner is non-Muslim and there is no will, the ownership of the HDB flat will be dealt with under the Intestate Succession Act.

Owners of private property or owners who have disposed of a private property within the last 15 months may take over the ownership of an HDB flat if they meet the following: The existing flat owner has fulfilled the requisite occupation period. At least 1 of the proposed owners is a Singapore Citizen.

During the MOP of the flat, the flat owner, his/her spouse and occupiers are not allowed to acquire private residential property. Acquiring private residential property to hold on trust for another person is also not allowed.

All HDB homeowners are required to stay in their flat for at least 5 years. During these 5 years, they are not allowed to sell their house, rent their whole house or even apply for a new BTO. This period is commonly known as the MOP or minimum occupation period.

Singles—whether individually or jointly—can purchase any type of HDB resale they desire, provided they can afford it. The main disadvantage of buying a resale flat is the cost.

An essential occupier, as defined by HDB, “is a family member who forms a family nucleus with the applicant to qualify for a flat from HDB”. This can be a spouse, child, parent or sibling. He/she does not have any share in the flat, even if he has paid cash for it.

Yes, your grandchild can inherit the HDB flat, but in order to keep it, he will have to meet the eligibility conditions of owning a HDB flat under one of the many HDB Eligibility Schemes, i.e Fiance/Fiancee Scheme, Public Scheme etc.

Can I buy HDB if my wife is foreigner? ›

Buying HDB Flat as a Singaporean-Foreigner Couple

At the time you submit your resale flat application, if your non-resident spouse is 21 and above, they must have a valid Long Term Visit Pass or Work Pass of at least 6 months; if they are 35 years and above, they need a Visit Pass or Work Pass of any validity period.

Are you going to live in it or use it as a future investment for rental money? This decision will impact the rest of the choices you make when it comes to budgeting and finances. A caveat for HDB owners: Singaporean Citizens cannot concurrently own two HDBs, so your second home will be a private condominium or house.

If the deceased has named a beneficiary for the account, the person named will get access to it, but only after the probate process has concluded. If the deceased did not name a beneficiary or write a will, the probate court would name an executor to manage the distribution of the money after any debts are paid.

Jointly Owned Property

Many married couples own most of their assets jointly with the right of survivorship. When one spouse dies, the surviving spouse automatically receives complete ownership of the property. This distribution cannot be changed by Will.

When the owner of a house dies and there is a Will, the house will pass to the beneficiary named in the document. Once Probate court has validated the Will, the Executor can assist with transferring the property to the heir. This is typically the simplest way to transfer the home after an owner dies.

As part of the property cooling measures introduced on 30 Sep 2022, private residential property owners (PPOs) and ex-PPOs are required to serve a wait-out period of 15 months after the disposal of their private properties before they are eligible to buy a non-subsidised resale flat.

A Guide to the HDB Resale Portal for Sellers

Home owners can sell their HDB flat on their own, even without a salesperson. Learn more about how to use the HDB Resale Portal.

Can I buy a resale HDB without an agent? Yes, you can. Before doing so, you will need to visit the HDB Resale Portal for an instant assessment of your eligibility to do so, as well as information on CPF housing grants and the HDB housing loan.

The key difference between a private condo & HDB flat is that the private property can be put on a collective sale (en bloc) for developers to purchase. The developer can then buy this private condo for redevelopment.

Owner or operator means any person who owns, leases, operates, controls, or supervises a facility, source, or air pollution control equipment. occupier in relation to a property, shall mean a person in actual occupation of the property, whether or not that person has a right to occupy the property.

Can I remove HDB occupier? ›

Deletion of occupiers

You can remove existing occupier/s if the remaining occupier/s qualify to retain the rental flat under our prevailing policy. You can submit your request by approaching the HDB Branch.

Yes you can appeal to hdb requesting them to take back your flat , however chances are slim for your appeal to be successful. Even if your appeal is successful, you will probably get a better price for yourself if your hdb is sold to the open, resale market instead .

There is no limit on how many times you are eligible to purchase a HDB resale. You are only not allowed to take a HDB loan more than 2 times and also purchase a flat directly from HDB (eg BTO/SOB) more than 2 times. I am specialised in HDB transactions. Do contact me at 9337....

HDB MOP is a rule that restricts you from selling or renting out the entire flat during the first five years of moving in. During the MOP, you are also not allowed to buy another private property. The HDB MOP helps to prevent homeowners from 'flipping' their newly-purchased flat for a profit immediately.

Under the HDB rules, an SPR can only buy a resale HDB flat with another SPR or SC under two schemes: the HDB Public Scheme, which is buying with a family unit (i.e. spouse, children, siblings, parents), or the Fiancé/Fiancée Scheme, which is well, your fiancé or fiancée.

Singapore Permanent Residents are not allowed to rent out their flat. If you bought your flat new from HDB or bought a resale flat with a housing grant from CPF: You must have occupied your flat for at least 5 years. To rent out bedrooms only: Only bedrooms from HDB flats that are 3-room or larger can be rented out.

In this case, you will need to purchase as a sole owner and indicate that you (or your spouse) is the Sole Lessee. The other spouse can thus be put as an essential occupier, which helps you towards meeting the eligibility criteria by HDB to purchase a flat.

Current flat owners may apply to change their flat ownership to include immediate family members who meet all eligibility conditions. If there is more than 1 proposed owner, they would need to decide on the manner of holding the flat upon the ownership change, whether by joint-tenancy, or tenancy-in-common.

According to HDB, an essential occupier must be a family member, who forms a family nucleus with the owner, to qualify for an HDB purchase. This happens because the family member cannot or may not be listed as a co-owner for any reason.

Can you sell HDB to family? ›

One or more flat owners can sell his/ her share of the flat ownership to other family members, subject to the buyers meeting HDB's eligibility schemes and criteria.

Surviving spouses and children are first to qualify as direct heirs-at-law in California's Intestate Succession which orders the priority of heirs on how closely they are related to the decedent. Grand children would qualify as direct heirs only if their parents are deceased.

Lifetime giving

Gifting your inheritance to your grandchildren during your lifetime is an option that many individuals should consider. A grandparent can gift up to $15,000 a year without triggering the federal gift tax. Together a couple can gift $30,000 annually.

Divorced or widowed Singapore citizens, aged 21 and above, with children under their custody, care and control, are now considered a family nucleus and can purchase a HDB flat under the Public Scheme with their kids.

It is possible if both of you form a valid family nucleus under one of the Eligibility Schemes.

In Singapore, it is prohibited to buy a Housing Development Board (HDB) flat if you already own real estate. In this context, real estate includes other HDB flats and both local and overseas private properties.

While most adult Singaporeans are well aware that they can purchase a new flat directly from the Housing Development Board (HDB) directly two times during their lifetime (a second bite at the cherry), some may not be aware that they can yet apply for another new flat for a third time in their senior years.

Answer: No. If you and your spouse both own HDBs each, you will have to dispose of one of the existing HDB flats. HDB is very clear on this issue. In a letter to one HDB flat owner, which was shared on a local forum, it noted that “husband and wife are considered one family unit.

You and your fiancé/ fiancée or spouse will form a core family nucleus. Together with your parents, your household may apply for a 3Gen flat from HDB or buy a resale 3Gen flat.

Bottom line. Federal student loans are the only debt that truly vanishes when you pass away. All other debt may be required to be repaid by a co-owner, cosigner, spouse, or your estate.

Does a bank account get frozen when someone dies? ›

If the account holder established someone as a beneficiary, the bank releases the funds to the named person once it learns of the account holder's death. After that, the financial institution typically closes the account. If the owner of the account didn't name a beneficiary, the process can be more complicated.

Banks allow customers to name a beneficiary using a “payable on death” or “transferable on death” account. This means that when the account holder dies, the money in the account will automatically transfer to the named beneficiary without having to go through probate.

Marital Status After Death of Spouse

A spouse's death legally changes a person's status to “no longer married,” but a person can choose to consider themselves married for as long as they want. There's no right or wrong way in choosing what to call yourself. It all comes down to a matter of personal choice.

The Spouse Is the Automatic Beneficiary for Married People

A spouse always receives half the assets of an ERISA-governed account unless he or she has completed a Spousal Waiver and another person or entity (such as an estate or trust) is listed as a beneficiary.

Although there are no legal, grammatical, or lexicographical rules governing what courtesy title is "correct" for a widow, in general, when a woman's husband dies, she retains the title of Mrs.

The general rule is that a mortgage may not stay in a deceased person's name, however exceptions may apply. Generally, if a person dies, title will transfer. If title transfers, it invokes a due-on-sale clause.

Most commonly, the surviving family who inherited the property makes payments to keep the mortgage current while they make arrangements to sell the home. If, when you die, nobody takes over the mortgage or makes payments, then the mortgage servicer will begin the process of foreclosing on the home.

Mortgage: Federal law requires lenders to allow family members to assume a mortgage if they inherit a property. However, there is no requirement that an inheritor must keep the mortgage. They can pay off the debt, refinance or sell the property.

If you're a foreigner, apply to SLA to retain ownership of inherited, landed property. Foreigners cannot inherit landed property on the mainland; only in Sentosa Cove. However, special permission is sometimes granted, based on your economic and other contributions to Singapore.

Can foreigners inherit property in Malaysia? Foreigners can inherit property either through a will or the Distribution Act 1958 as long as the foreigner falls within one of the categories of persons under Section 6 of the Distribution Act 1958.

Can HDB occupier own another HDB? ›

He or she cannot own foreign or local private property until after the five-year MOP, and HDB must be notified before the Option to Purchase for a private property is exercised.

However, as a foreigner, she is not allowed to own a HDB flat. In this case, the HDB flat has to be sold first and the monetary proceeds to her. If he dies without writing a will, the HDB flat will be subjected to the Intestate Succession Act (see below).

When a person dies without a valid Will in Singapore, the person is said to have died “intestate.” In such an event, the Intestate Succession Act sets out how the estate is distributed. The deceased's family members will inherit the assets in the proportions prescribed in the Intestate Succession Act.

Validity of Foreign Wills

A will created in a foreign jurisdiction will treated as properly executed in Singapore if its execution conforms with the law in force in the: Territory where it was executed. Territory where the testator was domiciled at the time when the will was executed or of the testator's death.

Simply put, Section 7 allows a foreign national to inherit a property in the Philippines only when the inheritance is by operation of law and not through a last will and testament.

Do I have to pay taxes on foreign inheritance to the IRS? Do I have to pay taxes on foreign inheritance to the IRS? No, the IRS does not impose taxes on foreign inheritance or gifts if the recipient is a U.S. citizen or resident alien.

Under the Philippine law of intestate succession, (the decedent left no will), the compulsory heirs (spouse and children) will automatically inherit the estate of the decedent at the time of death. The estate includes both real estate and personal properties owned by the decedent.

It is a private treaty between seller and buyer therefore you can sell at any price technically as long as you have fulfilled the requirements for MOP and others.

Only authorised tenants are allowed to stay in the flat.