Transferring the Ownership of the Private Property

If the intent is for you to transfer your share of the private property to your spouse, or for your spouse to transfer his/her share of the private property to you, you and your spouse should also agree on whether any CPF refunds are to be made to the CPF Account of the person who gives up ownership of the private property. Full CPF refunds are generally required unless the Court specifically orders a transfer of property without refunds or with partial refunds.

Buyer’s Stamp Duty (BSD), and Additional Buyer’s Stamp Duty (ABSD) if any, will apply for transfers or sale of the property to spouses. BSD and ABSD are computed based on the purchase price or market value of the property, whichever is higher. In addition, Seller’s Stamp Duty (SSD) may apply if the transfer of ownership or sale of property to spouses is made within the SSD holding period. You may wish to refer to IRAS’ website for more information on whether SSD applies for the sale or transfer of the property to spouses, and how much it is.

BSD, ABSD and SSD can only be remitted if the conditions for Stamp Duty Remission for Matrimonial Proceedings are met. Details on these conditions are available on the IRAS website.

If you decide to sell the subject property after acquiring your spouse’s share, SSD may apply. To find out if SSD applies to you, you may visit IRAS’ website.

The following example has been provided to aid your general understanding and is not intended to be representative of all the scenarios that may arise. You may wish to consult a legal professional for personalised and in-depth advice.

Anita would have to use cash and/or housing loan for the balance of $606,100 in order to complete the transfer of Nathan’s share of the private property to her.

If your spouse transfers his/her share of the private property to you with partial or no CPF refunds to his/her CPF Accounts, you will have to refund the following amounts into your CPF Accounts when you eventually sell or dispose of the private property in future:

1. The amount of CPF monies your spouse used to purchase the private property which was not refunded at the time of the transfer of your spouse’s share of the private property to you, including accrued interest;

2. The amount you withdrew from your CPF Accounts for the private property, including accrued interest; and

3. Any amount you and your spouse have pledged (using the private property) to make up your and his/her retirement sum, if applicable.