Advice needed: Divorce - Why do I still need to pay 50K stamp duty to transfer out my name in the p

female

New Member
Hoping someone here can enlighten me. I've been surfing and surfing gov.sg sites hoping to get an answer but havent found one.

My ex and i have divorced some time ago, and our agreement is for him to continue staying in our matrimonial home; in exchange, I will transfer my share of the property to him for a token lump sum.

He has engaged a lawyer to deal with the discharge of the joint mortgage and transfer of house deeds, but I have just been informed of a 3% stamp duty that he wants us to co-share.

I have never even step into this propery lor, and its a hefty 50K stamp duty. Why do i need to pay this and how to siam??

If anyone can direct me to the relevant site, that'll be great. i hv gone to hdb, ura, subcourt sites, google, all nothing.

Thanks in advance!
 


shanney

Member
for every purchase of property, stamp duty has to be paid.

in this case, he is buying over your share of the property. stamp duty will have to be paid on the purchase of your share of the property.

May i know how much is the property valued at? and how much is he buying over your share for? stamp duty is payable at 3% less $5400 of the valuation since you are selling it to him for a token sum.
 

female

New Member
Thank you ladies.

When this house was bought, our relationship was shaky already, so he changed the tenancy agreement to tenancy-in-common with me holding 30% (our previous home was 50-50 lor). I agreed to it coz i dont care for the money.

At our divorce, my token sum is in fact less than the 30% value of the house lor.

2 years has past, and i believe the house should have appreciated to over 1.5mil.

Im afriad selling the accomodation is out of the question. Our divorce was relatively cordial - ask him to sell off his beloved house, confirm world war.

YJZL: i quote you "stamp duty will have to be paid on the purchase of your share of the property". since im transferring 30% back to him, does that mean I just need to pay stamp duty on this 30%?

The conveyancing lawyer is his, and sounds like there is no choice regarding teh stamp duty. I just dont understand why has to be the full amount, coz its not like the property is sold - we just want to take one name off.

Thanks again for listening to me. This thing is very irritating/vexing, coz so many laws and rules. And who to believe? Can his lawyer be bullshiting me?
 

shanney

Member
It it is not as easy as merely taking your name off the title. You have to sell off your share of the property to him. If the value of the house is 1.5 million now, and you are selling your 30% share to him at valuation, stamp duty is $8100.

By the way, I don't understand why you are paying stamp duty for him, doesn't seem fair to you, especially if you are selling to him for a token sum and not at valuation.
 

shanney

Member
on another note, you can engage your own lawyers to represent you in the sale of your shares in the property. at least your own lawyer will protect your interest.

and i honestly still cannot fathom what you wanna pay stamp duty for him. How much $ did you fork out when this property is bought?
 

shanney

Member
ok i just read IRAS webpage, if your agreement with him (ie the Sale and Purchase Agreement) states that the Transferor (ie you) has to pay stamp duty, then you cant run away from it. But if the contract is silent, he has to pay for it.

if you have not signed any sale and purchase agreement, i suggest you engage a lawyer to represent you in case there are any clauses inside his draft which may be detrimental to you.
 

mum_of_2_girls

New Member
Hi female,

Since he is so calculative, you should sell your share at market rate.

Wow! No Man now. But have a Win Fall.
Worse is No Man and No Money.
 

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