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 Changing ownership or names on the housing loan

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TSeastern
post Feb 6 2019, 08:17 PM, updated 7y ago

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From: Mars


Hi friends,

Just would like to know what are the required processes for any change of ownership / names on the S&P and also on the loan aspects. (if you are not selling the property but rather transferring of names)

Your advices and opinions are greatly appreciated.

Thank you.

This post has been edited by eastern: Feb 6 2019, 08:18 PM
ThorWP
post Feb 6 2019, 08:24 PM

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find a lawyer, which is nt cheap
mini orchard
post Feb 6 2019, 10:54 PM

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Transferring of name in property ownership is actually foregoing your rights to the property. Whether actual money passes hand is secondary but you need to determine a transferrable amount based on current market value for legal fees, stamp duty and rpgt purpose, where applicable.

It will be the same process as buying another property in terms of snp and loan.

This post has been edited by mini orchard: Feb 6 2019, 11:11 PM

 

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