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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Loans Family HDB Resale CPF Property

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, Senior Financial Services Consultant at AIA Singapore Private Limited

    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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