09/10/2022
https://singaporefinance.org/decoupling-in-singapore/
Looking around the dining room of a typical morning☕️, you spot the familiar blemishes on the walls of a house well-lived. Memories of moving in as newly weds, lazy Sundays spent watching TV and the familiar smell of what is home. However, there’s the irrepressible urge that it is time to move into something bigger with new memories to be forged.
Your spouse and you find the perfect place, but quickly realise a problem. The joint ownership of your current house means that Additional Buyer Stamp Duty (ABSD) for your second property (17%, higher for PRs) has to be paid which could be costing you hundreds of thousands of dollars. This is where decoupling could be the perfect solution.
Decoupling, if a residential property is co-owned, is the transfer of ownership where one of the owners acquires complete ownership of the current property.
