Properties info

[starlight1968sg]

Zeal mummy\" post_id=\"2058455\" time=\"1644752359\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2058455 time=1644752359 user_id=58173]
Later your child don’t want to return u…. Hahaha..[/quote]

If you decided to gift, dont expect to be returned

[Zeal mummy]

starlight1968sg\" post_id=\"2058457\" time=\"1644752676\" user_id=\"14025:

If you decided to gift, dont expect to be returned

I don’t think it’s meant to be a gift, but to buy in a child’s trust or in the name of a grown up child.. That’s a gift…

[lee_yl]

starlight1968sg\" post_id=\"2058450\" time=\"1644750170\" user_id=\"14025:

I mean you have to buy in trust is bec your child is below 21?
If your child is above 21, u can buy a ppty in her name to siam ABSD.

If the child is already 21yo then can buy under child’s name but what if child has no income, also cannot take bank loan right? Parents still need to pay in full.

Oh, and if your investment ppty is still under your child’s name, your kid cannot buy a BTO or EC when it’s about time the kid gets married.

My eldest is far from 21yo. Buy under trust, of cos hope before she turns 21yo, I can sell off the property and get back my money. Definitely not as a gift for her at this stage. Once I buy under trust, the proceeds from sale of ppty and the monthly rental income have to go into the trust account.

To buy under trust is not expensive, the legal cost involved is $6,500 including setting up the trust account and conveyance fees for buying the property.

To “gift” is easy, but to take back maybe not. I do not wish to quarrel with my children it comes to money.

[starlight1968sg]

lee_yl\" post_id=\"2058464\" time=\"1644753792\" user_id=\"17023:

I do not wish to quarrel with my children it comes to money.

\"like\"

[Coolkidsrock2]

lee_yl\" post_id=\"2058464\" time=\"1644753792\" user_id=\"17023:

If the child is already 21yo then can buy under child’s name but what if child has no income, also cannot take bank loan right? Parents still need to pay in full.

Oh, and if your investment ppty is still under your child’s name, your kid cannot buy a BTO or EC when it’s about time the kid gets married.

My eldest is far from 21yo. Buy under trust, of cos hope before she turns 21yo, I can sell off the property and get back my money. Definitely not as a gift for her at this stage. Once I buy under trust, the proceeds from sale of ppty and the monthly rental income have to go into the trust account.

To buy under trust is not expensive, the legal cost involved is $6,500 including setting up the trust account and conveyance fees for buying the property.

To “gift” is easy, but to take back maybe not. I do not wish to quarrel with my children it comes to money.

Am not sure if the approval you mentioned is the same as what am thinking, but you can check if including yourself as a beneficiary of the trust will impact the approval.

A settlor can be beneficiary of their (non-conveyancing purpose) trust.

[lee_yl]

Coolkidsrock2\" post_id=\"2058473\" time=\"1644761729\" user_id=\"48901:

Am not sure if the approval you mentioned is the same as what am thinking, but you can check if including yourself as a beneficiary of the trust will impact the approval.

A settlor can be beneficiary of their (non-conveyancing purpose) trust.

Need to seek court’s approval to sell the ppty or draw out a sum of money from the trust’s funds. Need to justify that the money is to be used to benefit the child, like paying for university fees, pay insurance etc. The seeking court’s approval part is quite easy and straight forward.

DH also suggested if it is possible to put say his name together with the child’s name so that each time when drawing money, need two signatures.
This has to ask the lawyer. Whether a settlor can be beneficiary of trust, I am not sure, also need ask lawyer

If I buy a ppty now, i may want yo sell it after 3years. I worry about the complications if I were to take back the money for other purposes.

[SGPF]

Factors to consider when Buying Private Property for Rental

Typical Expenses for Landlord and Tenants

https://i.imgur.com/PzjePqEl.jpeg\">

[Estéema]

lee_yl\" post_id=\"2058475\" time=\"1644762965\" user_id=\"17023:

Need to seek court’s approval to sell the ppty or draw out a sum of money from the trust’s funds. Need to justify that the money is to be used to benefit the child, like paying for university fees, pay insurance etc. The seeking court’s approval part is quite easy and straight forward.

DH also suggested if it is possible to put say his name together with the child’s name so that each time when drawing money, need two signatures.
This has to ask the lawyer. Whether a settlor can be beneficiary of trust, I am not sure, also need ask lawyer

If I buy a ppty now, i may want yo sell it after 3years. I worry about the complications if I were to take back the money for other purposes.

If I’m not wrong, if yr hubby put his name in the trust property, he might be caught in ABSD for +1 to X# of property he is currently holding. The %tage of tax progressive in relation to # of property. For SC it’ll be 0 for 1st property, 17% for 2nd property, & 25% for 2+ property. Trust for child is mostly I. Child’s name to avoid attracting any subsequent ABSD.

[SGPF]

Is Enbloc prices always going up? Are you buying for enbloc?


https://i.imgur.com/lBZts89l.jpg\">

[Vitamin M]

owners getting rich from these sales