Investment

The Key Things To Prepare For When Inheriting Property In Singapore

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Ryan J

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938’s Open House programme underscores his commitment to providing valuable insights into the property market.

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Kam
Kam
3 years ago

Hi Ryan, the part about keeping the inherited HDB should be clarified carefully. Once you inherit the HDB, it is as if you had transferred the HDB to your name. Consequently, if you have a private property, you are required by HDB to stay in your newly inherited HDB until you have cleared the 5 years MOP to rent out your HDB.

This has been clarified to me by the HDB officer as my wife is currently in a possible situation of inheriting a HDB . I have also been told that my family has to be listed as occupiers in the HDB, forming a family nucleus as we are married.

Stacked Homes
Admin
3 years ago
Reply to  Kam

Hi Kam, thank you for pointing that, we’ll take note of this feedback for our articles

John
John
2 years ago

Hi, for the seller’s stamp duty portion, the IRAS website states that

“Exemptions from SSD for Residential Properties under the Stamp Duties Act
9. A person who owns an HDB flat and inherits another HDB flat, is required under the HDB’s regulations to dispose of either the inherited HDB flat or the existing HDB flat. This exemption applies to disposal of flats on or after 18 Dec 2015.
10. A person who owns a non-HDB flat and inherits an HDB flat, is required under the HDB’s regulations to dispose of the inherited HDB flat. This exemption applies to disposal of flats on or after 18 Dec 2015.”

so for your case mention above, the 3 months and selling won’t incure any stamp duty, no?

Andy
Andy
2 years ago

Hey Ryan & Team,

Lets say in the case that you are holding onto a private property, and you inherit a HDB that was bought before August 2010, must you live in the HDB? Or am I able to still live in my private house while i rent out the HDB?

Cheers,
AK

Stacked Homes
Admin
2 years ago
Reply to  Andy

Hey AK!

Thanks for sharing the details on the HDB inheritance. As the HDB was purchased before August 2010, you are able to keep both properties. However, the usual 5 years MOP still applies and are not eligible to rent out the HDB unit fully. You must also meet the usual eligibility criteria to own the flat.

https://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/eligibility

We have also written an article on inheriting different types of properties

https://stackedhomes.com/editorial/inheriting-an-hdb-or-condo-here-are-5-simple-guidelines/

Hope this helps 🙂

Melodina Tocmo Orit
Melodina Tocmo Orit
8 months ago

Hi, Ryan!

I am currently making a research paper to compare the process involved in the transfer of ownership of land acquired through inheritance in the Philippines with that of Singapore. Please share with me any sort of information that may help me with this undertaking. Thanks and please stay safe.

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