Could i clarify why is it that after MOP theres no issue marrying and adding the spouse (condo owner) as owner/occupier? Also what if condo owner is willing to sell - what would you recommend as their course of action? Thanks for the very informative video!
Because HDB rules don't allow HDB owners/occupiers to have private property ownership within MOP. And there's also the rule that you have to add your spouse's name into the HDB flat upon registration of marriage - be it owner / occupier. ===== It really depends on what the couple is looking for and their preference. If the couple has other investment preference (eg. keeping more cash on hand for stocks/bonds) or other considerations (prefer larger living space than facilities + price appreciation potential), it may make sense for them to sell the condo, wait for 15-30 months, and move to a HDB flat (resale / subsidized). You can Whatsapp me at 83330360 so that I can understand the situation for a better recommendation :)
If I am not wrong, if "A" already bought a resale flat as a single and subsequently marry "B" who already own a private property, both "A" and "B" will get to keep their respective properties. I've seen real case scenario where after marriage, "A" and "B" live together in the HDB flat and "B" rent out her private property. "A" does not need to include "B" as an occupier after marriage.
Am in the same scenario here as well. Expect I'm yet to be 35, I didn't know buying under the single scheme first then getting married will not be allowed by hdb.
Yes, you are right - buying under Singles scheme does not require a family nucleus unit. But in this specific scenario, as stated on HDB S&P agreement, you have to declare your marriage status even after your purchase. And if that's the case, your spouse should be added into the occupier list and in turn, subjected to the MOP rule (despite not being an essential occupier) Some people treat it as a grey area and circumvent it. Which in my opinion, could be more clearly stated. Though regardless, it's not worth the risk as discussed in the video.
@@thepropguide it is not grey. If HDB did not state explicitly that you need to do so then you don't need to do so. At most don't put the spouse address in their own NRIC. They can use their previous home address. (hell there are so many people out there doing this) Besides, like i said in another reply. Purchasing a property like HDB under single scheme means a few things. 1) You are the sole owner, you have to bear the mortgage costs alone. How many people can bear the mortgage of half a million dollars and above solely by themselves? Work out the sums and extrapolate it to the population and it is not many. Mortgage itself acts as a barrier to abuse. 2) In the event of a divorce, it is a simpler event as the property is only under one person. The spouse as is not owner cannot lay share on the property. How many spouse partners are going to say yes to this sort of arrangement? Again, not many. TDLR, the ones who want to game this system and have the ability to do so and buy a private property or a HDB property under solely one paying owner is not many. I don't see the issue of abuse here.
@@thepropguide I do not think the terms are unclear. This is a flat that a single has purchased for singles use. It does not matter whether he chooses to marry later unless he is buying the flat under a different scheme and using different HDB grants like family grants. Besides, if we look at it in today's context. I do not think many singles have ability to buy a 4 or 5 room flat under the scheme and foot the mortgage themselves. The high price alone is already a deterrent for any abuse. So in actuality, there are very few individuals in the market who can and are able to make use of such a scheme. it is like aligning stars of the universe. You not only need to have the money and means, you also have to have a prospective partner who is already ready or already own a private property. Lastly, this partner must also share the same perspective of each party owning their own property and servicing their own mortgage.
I think this policy is not right especially if the wife already owns a private property before marriage. Forcing the wife to sell her property will discourage marriage and babies. I think if you appeal, you should succeed
I understand where you're coming from.. and I hope they are more clear on the appeal conditions/exception case.. but it could be tricky to implement as some may "abuse" the system..
@@steventay5834 yes that's right. Am in this situation. Tried to appeal but Hdb's reply is very templated and no effort was made on their end to come up with a suitable solution for our family needs. Thus likely not having babies. Kudos to their policies discouraging people to start family.
@@thepropguide i think it is not likely to be abused as each person only owns a single property - they cannot use one another to leverage for loans for paying the mortgage. This already narrows down the possibility how many people can actually do this.
@@shurakishi4707 I understand where you're coming from, though if it becomes easier to buy HDB + Private property, those who are able to do so will buy up both without paying ABSD. And it may even push up HDB prices as it's easy to rent out private property and you can focus on paying off the HDB while you stay in. In turn, those who want to buy HDB will complain that HDB resale prices are too high / complain unfair etc.
@@thepropguide The ones who are able to make such arrangements to do so are not many and will not be expected to make a significant influence in the market. The same thing that million dollar HDB flats constitute a tiny weeny percentage of all HDB transactions. They do not impact the market significantly
hi there. can you kindly look into this csae study where incumbent A who is currently residing with her mother in a hdb, also owns a condo that is currently rented out. Would A be able to inherit the mother's flat some day in the future and yet still continue to own the condo ?
This will be depending on when the hdb flat was purchased, they changed the rule sometime in 2011, if purchased hdb before that then she can keep both hdb and condo
Hi @hhspore, I have double checked with HDB officer.. Conditions have to be met in order for A to inherit the flat and still hold the condo 1) Both mother and daughter are Singapore Citizen 2) The HDB flat has met the MOP 3) Daughter must meet the eligibility www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/change-in-flat-ownership/eligibility 4) Daughter must stay in the HDB flat upon transfer to start a new 5 year MOP (because she's the new owner), and she's allowed to retain the condo and rent that out. However, that will also mean that the daughter will not be able to acquire any new private residential properties due to the MOP. After the MOP, she is free to do so.
Hi @weemousy, I understand where you're coming from.. But according to the call I made with the HDB officer, it seems that the rule has been updated - as long as the HDB flat has met the MOP, and the beneficiary is eligible to hold a HDB flat, they can inherit it.
Could i clarify why is it that after MOP theres no issue marrying and adding the spouse (condo owner) as owner/occupier?
Also what if condo owner is willing to sell - what would you recommend as their course of action?
Thanks for the very informative video!
Because HDB rules don't allow HDB owners/occupiers to have private property ownership within MOP.
And there's also the rule that you have to add your spouse's name into the HDB flat upon registration of marriage - be it owner / occupier.
=====
It really depends on what the couple is looking for and their preference.
If the couple has other investment preference (eg. keeping more cash on hand for stocks/bonds) or other considerations (prefer larger living space than facilities + price appreciation potential),
it may make sense for them to sell the condo, wait for 15-30 months, and move to a HDB flat (resale / subsidized).
You can Whatsapp me at 83330360 so that I can understand the situation for a better recommendation :)
If I am not wrong, if "A" already bought a resale flat as a single and subsequently marry "B" who already own a private property, both "A" and "B" will get to keep their respective properties. I've seen real case scenario where after marriage, "A" and "B" live together in the HDB flat and "B" rent out her private property. "A" does not need to include "B" as an occupier after marriage.
Yes, that is possible, if A has fulfilled the 5 year MOP and then marry B.
@@thepropguidewithout meeting the 5 years MOP what will happen? Can’t the couple keep both properties despite being within MOP?
Am in the same scenario here as well. Expect I'm yet to be 35, I didn't know buying under the single scheme first then getting married will not be allowed by hdb.
Hi Qin Xiang, you can still buy under Single Scheme, but you have wait out the 5 year MOP before marrying 😢 or try the appeal process..
I don't think this is correct as HDB purchase under singles scheme does not require you to form a family nucleus unit
Yes, you are right - buying under Singles scheme does not require a family nucleus unit.
But in this specific scenario, as stated on HDB S&P agreement, you have to declare your marriage status even after your purchase.
And if that's the case, your spouse should be added into the occupier list and in turn, subjected to the MOP rule (despite not being an essential occupier)
Some people treat it as a grey area and circumvent it.
Which in my opinion, could be more clearly stated. Though regardless, it's not worth the risk as discussed in the video.
@@thepropguide it is not grey. If HDB did not state explicitly that you need to do so then you don't need to do so. At most don't put the spouse address in their own NRIC. They can use their previous home address. (hell there are so many people out there doing this)
Besides, like i said in another reply. Purchasing a property like HDB under single scheme means a few things.
1) You are the sole owner, you have to bear the mortgage costs alone. How many people can bear the mortgage of half a million dollars and above solely by themselves? Work out the sums and extrapolate it to the population and it is not many. Mortgage itself acts as a barrier to abuse.
2) In the event of a divorce, it is a simpler event as the property is only under one person. The spouse as is not owner cannot lay share on the property. How many spouse partners are going to say yes to this sort of arrangement? Again, not many.
TDLR, the ones who want to game this system and have the ability to do so and buy a private property or a HDB property under solely one paying owner is not many. I don't see the issue of abuse here.
@@thepropguide I do not think the terms are unclear. This is a flat that a single has purchased for singles use. It does not matter whether he chooses to marry later unless he is buying the flat under a different scheme and using different HDB grants like family grants.
Besides, if we look at it in today's context. I do not think many singles have ability to buy a 4 or 5 room flat under the scheme and foot the mortgage themselves. The high price alone is already a deterrent for any abuse. So in actuality, there are very few individuals in the market who can and are able to make use of such a scheme.
it is like aligning stars of the universe. You not only need to have the money and means, you also have to have a prospective partner who is already ready or already own a private property. Lastly, this partner must also share the same perspective of each party owning their own property and servicing their own mortgage.
I think this policy is not right especially if the wife already owns a private property before marriage. Forcing the wife to sell her property will discourage marriage and babies. I think if you appeal, you should succeed
I understand where you're coming from.. and I hope they are more clear on the appeal conditions/exception case.. but it could be tricky to implement as some may "abuse" the system..
@@steventay5834 yes that's right. Am in this situation. Tried to appeal but Hdb's reply is very templated and no effort was made on their end to come up with a suitable solution for our family needs. Thus likely not having babies. Kudos to their policies discouraging people to start family.
@@thepropguide i think it is not likely to be abused as each person only owns a single property - they cannot use one another to leverage for loans for paying the mortgage. This already narrows down the possibility how many people can actually do this.
@@shurakishi4707 I understand where you're coming from, though if it becomes easier to buy HDB + Private property, those who are able to do so will buy up both without paying ABSD.
And it may even push up HDB prices as it's easy to rent out private property and you can focus on paying off the HDB while you stay in.
In turn, those who want to buy HDB will complain that HDB resale prices are too high / complain unfair etc.
@@thepropguide The ones who are able to make such arrangements to do so are not many and will not be expected to make a significant influence in the market.
The same thing that million dollar HDB flats constitute a tiny weeny percentage of all HDB transactions. They do not impact the market significantly
You can call hdb?
Where is the number?
You can call HDB Resale - 1800 8663066
hi there. can you kindly look into this csae study where incumbent A who is currently residing with her mother in a hdb, also owns a condo that is currently rented out. Would A be able to inherit the mother's flat some day in the future and yet still continue to own the condo ?
This will be depending on when the hdb flat was purchased, they changed the rule sometime in 2011, if purchased hdb before that then she can keep both hdb and condo
Hi @hhspore, I have double checked with HDB officer..
Conditions have to be met in order for A to inherit the flat and still hold the condo
1) Both mother and daughter are Singapore Citizen
2) The HDB flat has met the MOP
3) Daughter must meet the eligibility
www.hdb.gov.sg/cs/infoweb/residential/living-in-an-hdb-flat/changing-owners-occupiers/change-in-ownership/change-in-flat-ownership/eligibility
4) Daughter must stay in the HDB flat upon transfer to start a new 5 year MOP (because she's the new owner), and she's allowed to retain the condo and rent that out.
However, that will also mean that the daughter will not be able to acquire any new private residential properties due to the MOP. After the MOP, she is free to do so.
Hi @weemousy, I understand where you're coming from..
But according to the call I made with the HDB officer, it seems that the rule has been updated - as long as the HDB flat has met the MOP, and the beneficiary is eligible to hold a HDB flat, they can inherit it.