Properties info

[Liew Nga Wing]

SGPF\" post_id=\"2058216\" time=\"1644541529\" user_id=\"197034:

Fun poll : If you are the sole winner of $16m Toto, what assets will you buy immediately? 😁🧧
https://t.me/SGpropertiesforum/6412

I will donate the $16m to UNHCR so that they can provide the Refugees a Home. I already have my HDB house (fully paid) and that is enough. 萬貫家財三頓飯，千棟房屋一張床. :rahrah:

[MrsKiasu]

At this age, would really like to stayput. Just the thought of may need to change, 3 quarter sian, seriously…

[lee_yl]

MrsKiasu\" post_id=\"2058111\" time=\"1644466297\" user_id=\"43981:

Pardon me for some silly qns..

When parents buy under child's name, beneficiary is the child. This will be till when, eg till certain age of the child? Any ways to change ownership back to parents later, say after child reached 18/21yo?

Is it troublesome to sell a unit under trust, when the child not yet reached legal age?

I would just assumed by doing using trust, the child would be considered as having 1st property. If that property sold before the child/beneficiary buy own home next time, the child will be considered as not holding any prop, therefore no ABSD for child's own bought unit, based on current rules? Again, is the procedure of selling complicated?

Another scenario, for people wants to hold on to HDB, there is no way to put HDB under 1 spouse name right?

Say for changing the 2nd home to another home, in order to avoid 3rd prop ABSD, we either sell the 2nd home first then buy the 3rd one (pay 2nd prop ABSD) or buy 3rd one (pay ABSD for 3rd) and sell the 2nd home within 6mths (then apply for refund of ABSD on the 3rd paid earlier)?

Last month I enquired about buying in trust with a conveyance lawyer.

According to the lawyer, the property would need to be paid fully in cash and we cannot sell and transfer the money back to our OWN account. Meaning, we are only holding the property in trust for our children. It’s pretty easy to seek approval to sell the property in trust just that the money will have to go back to a trust account. Good thing is, we can use the money in the trust account to pay for our children’s university fees etc.

Is there anyone who can advise whether there is anyway we can “take back” the money in the trust account should we decide to sell the trust property before the child reaches 21yo?

[MrsKiasu]

lee_yl\" post_id=\"2058242\" time=\"1644556333\" user_id=\"17023:

Last month I enquired about buying in trust with a conveyance lawyer.

According to the lawyer, the property would need to be paid fully in cash and we cannot sell and transfer the money back to our OWN account. Meaning, we are only holding the property in trust for our children. It’s pretty easy to seek approval to sell the property in trust just that the money will have to go back to a trust account. Good thing is, we can use the money in the trust account to pay for our children’s university fees etc.

Is there anyone who can advise whether there is anyway we can “take back” the money in the trust account should we decide to sell the trust property before the child reaches 21yo?

Oh meaning the money likely need to be kept in trust acct even after sell off the property for ay least b4 the child reaches 21yo arh.. woah thot no more property means trust acct no more

[Zeal mummy]

SGPF\" post_id=\"2058215\" time=\"1644540659\" user_id=\"197034:

Yes agree, we also like our kids to ask questions too, encourage them and never tell them its silly

Although I have never encouraged my kids to ask questions, (they do anyway) , I see that the local educational system is moving towards more verbal participation and self-directed learning.. compared to many years ago. However, I will encourage them to own properties. Hahaha.

[SGPF]

Zeal mummy\" post_id=\"2058302\" time=\"1644595022\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2058302 time=1644595022 user_id=58173]
Although I have never encouraged my kids to ask questions, (they do anyway) , I see that the local educational system is moving towards more verbal participation and self-directed learning.. compared to many years ago. However, I will encourage them to own properties. Hahaha.[/quote]

Nowadays kids will ask questions that we never think of !
Maybe watching too much youtube as well

[SGPF]

MrsKiasu\" post_id=\"2058236\" time=\"1644553015\" user_id=\"43981:

At this age, would really like to stayput. Just the thought of may need to change, 3 quarter sian, seriously..

The thought of packing already more than sian half....

[SGPF]

lee_yl\" post_id=\"2058242\" time=\"1644556333\" user_id=\"17023:

Last month I enquired about buying in trust with a conveyance lawyer.

According to the lawyer, the property would need to be paid fully in cash and we cannot sell and transfer the money back to our OWN account. Meaning, we are only holding the property in trust for our children. It’s pretty easy to seek approval to sell the property in trust just that the money will have to go back to a trust account. Good thing is, we can use the money in the trust account to pay for our children’s university fees etc.

Is there anyone who can advise whether there is anyway we can “take back” the money in the trust account should we decide to sell the trust property before the child reaches 21yo?

There are many types of trust, best to get a conveyance lawyer advise and share with us? I am also interested to know :goodpost:

[Zeal mummy]

SGPF\" post_id=\"2058428\" time=\"1644738435\" user_id=\"197034:

There are many types of trust, best to get a conveyance lawyer advise and share with us? I am also interested to know :goodpost:

Yes there are different types of trust.. if it’s not meant for the child, with the intention of taking back the money, ..perhaps setting up a “different” kind of trust, would be more useful.

Consult a lawyer when in doubt.

[Zeal mummy]

SGPF\" post_id=\"2058426\" time=\"1644737757\" user_id=\"197034:

The thought of packing already more than sian half....

Agree, that moving is very SianZ! Do always tell yourself that it’s worth the effort, especially since it’s to a newer nicer environment. Can also pay the movers/packers to pack for you!