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tempus

2 Unrelated Person Buying A Condo

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Hi,

Just a question to check with u all. Can 2 unrelated person buy a private property (eg Condo) ? Meaning i would like to purchase a condo with my girlfriend but we're not planning to get married yet. Any body knows if that's possible. thanks.

 

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No restriction on who buys private properties. Can even be a company.

All restrictions are normally related to HDB properties. For example.. if person owns existing HDB, then when buying private got some things to work out.

 

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no prob for two unreleated persons buy private properties. if one of u own a HDB, within 5years MUP cannot buy private prop. if either one own a HDB, then property tax will be 10% (instead of 4% for owner staying).

u need to chk out CPF rulings too (ie. if already using CPF for one property, need to set aside minimum sum in the CPF a/c, before it can be used for 2nd house). U two need to decide manners of holding (joint tenants or tenants-in-common).

basically if two of u do not own any property, no major issues. if u do not use CPF, even less issue.

Edited by latitude
 

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