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 Property transfer from parent and then refinance, Advise/feedback needed

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Zwean
post Nov 19 2020, 05:47 PM

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QUOTE(glozz @ Nov 19 2020, 04:55 PM)
Hallo, I have a question about property transfer from my father and then refinancing that property. However, as I'm overseas; I would like to see what options are possible to prepare for next year.

Appreciate any advise/feedback.
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2 methods.

1) Direct transfer (if free from encumbrances) just appoint a lawyer to do it through land office and then refinance after.
2) Sales & Purchase agreement between father and son, the loan amount disburse to father. Then father give to son.
Zwean
post Nov 19 2020, 06:16 PM

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QUOTE(glozz @ Nov 19 2020, 06:03 PM)
Hmm, very interesting. But wouldn't option (2) incur tax? Thanks for the time.
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Both method also have to pay stamp duty.

Father to Son can get 50% exemption. Method 1 or 2 also the same. If you require a competent lawyer can pm me for info.

This post has been edited by Zwean: Nov 19 2020, 06:17 PM
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