Anyone decoupled?

[sky00sky]

10 years ago condo price also more within reach.
now jump a lot

yeah..thought about it then the math and the money need to "pay off" the other couple portion outlay quite siong. Then after all that get pigeon hole apartment also need 1ml to 1.5mil only then just drop the idea.

 

[coyote]

To avoid absd. After that, how to get another?

IRAS please notice this thread.

 

[AngMohKia]

Errmmm .... Decoupling is straight-forward. A decent conveyancing lawyer can do it for you.
The selling price should be deemed arms-length transaction ie. you cannot sell too low to avoid paying stamp duties (I know this is arguable but there's a heavy scrutiny right now and you want to avoid any clawback from the gahment in future).
Also the "profit" that one of you make from the sale aka transfer of the first property needs to be transferred to the other person for your next property purchase. This needs to be documented even if it is "friendly" at this point in time. Bottom line, get a decent conveyancing lawyer to help you navigate this process legally

yup, done this. it gives you a lot more freedom. our place was fully paid up. I bought out my wife share that time using CPF, and used a loan for the existing property which was to be leased out. so the money from the mortgage was to pay for the new property+ wife CPF and cash. after a few years of renting out sold the unit to invest in stock and now buying something again under my name only and taking up small loan




Read HWZ Forum Rules!

 

[Ethan_]

Divorce is demerry.

Decouple is last time buyed joint tenancy. Now, 1 person own the property so that the other can buyed another property without incurring ABSD.

Meaning for private to private property only lah?

 

[Perishable]

Decoupled 6yrs ago. Till now have not manage to buy.

Prices running away too fast

over analysis paralysis. Many properties doubled since 6 years ago.

 

[MoeLanYong]

IRAS please notice this thread.

Aiya decoupling is not illegal rah. One person just takes over the entire property.

 

[MoeLanYong]

Meaning for private to private property only lah?

Yes

 

[MoeLanYong]

Yes just done that and need to have proper valuation conducted and proper funds flow (payment by buyer to the seller)

After decoupling, what other methods to acquire another property?

 

[coyote]

Aiya decoupling is not illegal rah. One person just takes over the entire property.

 

[Rathcycle]

True story not some csb
Know some big boss who is a sme company towkay, but easily worth tens of mio
He decoupled/divorced his wife to have 1 more 'name' to buy another flat.
His wife asked for some kind of guarantee that he wont anyhow play play and so... He paid for a downtown 4br in cash for his wife. Rental is something like almost 20k per month and his wife keeps it all. His wife is a small banker.
He also flips his own resi ppty every 2 to 3 years while staying in his dad's huge landed together with wife and 2 kids

And his 2 kids both have trust that holds on to 1 condo each.

From him I learnt that to buy house under trust, you need to be able to full cash and secondly if you wanted to sell the ppty, you have to go court and explain to a judge to why youre selling.

And also life is not fair.

 

[matchy]

later tiok check