My mum is going to give me a house under her name as my wedding gift.
I understand that transferring a property from parents to children / husband to wife or vice versa can apply for stamp duty waiver.
Now the question is, me and my fiance are not officially ROM. Is clause of love and affection still applicable? As the property will be assigned under me and fiance's name.
We would like to demolish the house and rebuild it. Will finance through housing loan. If the house does not contain fiance's name, then he won't be able to apply for a housing loan for the said house. If on my own, I do not eligible.

Any advice would be much appreciated.

dont do it ...

your mom giving a gift ( should be under ur name only ) instead of your fiancee . Especially now u guys arent even married . So dont do it ...

Wait it out ..

Got a friend same situation like yours. Later on the girl have Si Tiga, and when they break up. Ugly truth reveal, the girl family wanted to sale the house under pretense that the house is still half owned by her.
Put under your name even next time divorce, the house is still yours. Just put a will for your wife in case bad thing happen.

Hi yes still applicable but only on the half portion on you. In simple it means another half portion that transfer to your fiance need to pay full stamp duty.

Your share waived.
Wife share full duty payable (half share)
Better tell mom to prepare will instead... At least she still has control over property and you can't send her to old folks home. Shell be happy you're so considerate.
More brownie points

Alternatively you could get a proper S&P between you and your mother without your fiance's name.

Banks like OCBC allow your fiance, who is not your spouse, to joint-apply for a loan to finance the property.

Thanks for the replies.

What I am concern now is whether to get a loan before or after demolishing the house. I may use an approved house plan to get a loan, which I think will have better adjudication than the old house. But it might take long time to get the approval from the local authorities. Or should I demolish the house now so that when doing transfer the stamp duty will be cheaper?

BTW, do I need to get approval to demolish a house?

P.S. wedding is under going, no one is going any where

Btw, have you checked with your lawyer? If I am not mistaken, my lawyer have once told me that transfers between Parents -> Children and between spouses only can get 50% waiver on the stamp duty.

Parents -> Children-in-laws cannot get.

Please verify since I am not a lawyer, but this is what I was told, if I am not mistaken - can't really recall since there aren't too many Love-dan-Affection cases out there. I cant get hold of my lawyer to confirm, but if this is true, you may want to get a good lawyer who knows their business instead Let me recommend if you want.

yes, its only 50% waiver on the stamp duty under 'kasih-sayang' transfer

S&P under your name while loan include your fiancé name is the best la.

OP, once you have the title transferred under YOUR NAME alone, then just use the title as the property document and refinance it la. With OCBC and HLBB refinancing unencumbered property has no 10 year limit rule applied against it, you can finance it for the maximum of 35 years.

Your fiance can even join you as one of the applicant to get the loan.

This is my professional advice as a mortgage broker to you.

This post has been edited by wild_card_my: Jul 3 2015, 10:40 PM

Hi,

Can I withdraw from EPF for MOT love n affection from my parents example,
cost me rm12k after 50% rebate

sorry off topic i not sure anyone knows this