I'm planning to buy a resale flat under the single scheme after i reach 35. What will happen to this flat if i were to inherited my parent's flat? - Seedly
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Anonymous

Asked on 04 Jan 2020

I'm planning to buy a resale flat under the single scheme after i reach 35. What will happen to this flat if i were to inherited my parent's flat?

I know I can only have 1 HDB flat and if I choose to keep my parents' flat, what about the balance loan for my flat?

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Pang Zhe Liang
Pang Zhe Liang, Senior Financial Services Consultant at AIA Singapore Private Limited
Level 10. Unicorn
Answered on 04 Jan 2020

Under HDB ruling, you will have to sell either flat.

The sale of your flat is subjected to eligibility conditions, e.g. minimum occupancy period.

Thereafter, it will be treated as a normal sale of HDB and the same regulations will apply, e.g. selling at market rate, pay off loan.

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