Dear Fellow Forumers,

My first residential property was registered under joint name - "1st: my elder bro" and "2nd: my name".
Few years later, we have come to an agreement and decided that I am to take over the property possession and re-financed the loan agreement under my name only (re-financing under my name is completed).

However, the SPA is still under joint name with my elder bro as first name.

I need advise on the legal procedure to change the SPA name to "my name" only.
How should I proceed, and what is the estimate cost?

Hope fellow forumers can help.
TQVM.

Dear Five Matchsticks,

Need a clearer picture.
're-financing under my name is completed" - you mean you have obtained a third party charge/assignment for the 2nd loan?

If yes, then your elder bro has to sell his half portion to you via a proper SPA and you have to obtain another loan.

're-financing under my name is completed" - you mean you have obtained a third party charge/assignment for the 2nd loan?
Yes. Previous property loan was under joint name (my elder bro and my name).
I have re-financed the property loan to another bank under my name only.

If yes, then your elder bro has to sell his half portion to you via a proper SPA and you have to obtain another loan.
My elder bro is willing to transfer his half portion to me at no cost. So, it is only changing of name in SPA from joint name to my name only.

You will need to refinance the loan and put it solely under ur name and change the SPA at the same time .

easy way - get another loan. do a SPA to transfer ur bro's half share to you. u would still need to pay stamp duty based on 1/2 share of the current market value.

hard way - write in and request your bank whether they allow the transfer (usually they wont).