Thread: CPF OA
View Single Post
Old 17-09-2018, 08:54 PM   #58
Arch-Supremacy Member
Join Date: Mar 2004
Posts: 10,756
Just because I deliberated on the words used ....

I doubt there is anything wrong in law.
You jumped in with your mumbo jumbo ....

The government holds legal title over CPF assets, as it happens. The assets are assigned to you, and they should properly be counted as part of your net worth, but in the strict legal sense they are the government's for the duration.

That seemingly arcane, esoteric legal distinction could be quite important in scenarios like this one, if the government were to conclude that no rational adult (who may also be elderly) would ever agree to this, even for love.

....Wouldn't it be a lot easier to leave Singapore and Malaysia?
HDB allows transfer of flat among family members out 'of love'. But now they used the words at 'no consideration' except for conveyancing fee. This allows for transfer at any consideration among the family members.

CPF allows such transaction as long as the transferor's CPF plus accrued interest is returned to CPF in full.

IRAS allows such transaction as long as stamp duty is paid according to valuation if higher than transfer price or remission is given according to conditions.

Such transfer does not really need any rational except that 2 hdb officers are present to ensure that elderly transferor is fully aware of his or her action in his or her language.

Suka suka leave just Sg because wanna take CPF out?
henrylbh is offline   Reply With Quote