Transferring share of HDB to spouse

My spouse bought a resale 5rm HDB when he was 35 as a single. 5 years later, we are now married, he wants to include my name in as a joint owner. However, because he took a bank loan, bank don't allow us to refinance the loan together and we need to do resale part-share (selling his share to me). This whole process is extremely complicated. Does anyone have experience as a single HDB owner including your spouse into the ownership or selling a % to your spouse? Any advice is appreciated.

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Chris cctzjd

05 Mar 2024

Own time own target at Self Employed

Nice!

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Kent Toh

03 Mar 2024

Consultant at Sprinklr

Yea what is the purpose of having joint ownership? It doesnt really change anything, i mean spouse can still contribute to you to pay for the loan.

there are others who wants to split ownership actually - so they can purchase a property each without absd.

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Chris

03 Mar 2024

Pardon me, what is your spouse's primary intent of adding your name as a joint owner e.g. for mortgage repricing purpose? Adding a joint owner is done by HDB. Your spouse can continue paying the bank monthly mortgages should the 2/3 years loan term still a distant away. You can pay your share through him meanwhile.

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Pet N

02 Mar 2024

Yes LLy's link is correct

Before you do anything with the bank you need to settle with HDB. If he used CPF to pay a portion of the flat, then you'll need to pay back of a portion of the CPF upfront (either with cash or your own CPF) then you do the refinancing for the loan, and you'll have the option of changing to HDB loan if the rates are better.

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SH

01 Mar 2024

There is a way to change ownership composition without sale....

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