- Can I buy a new EC and keep my HDB flat?
- Can I buy a resale EC and keep my HDB flat?
- Under what conditions can I keep my HDB flat when buying an EC?
- What is the timeline for disposing of my HDB flat after buying an EC?
- Are there any penalties for not selling my HDB flat after buying an EC?
- Can I rent out my HDB flat instead of selling it after buying an EC?
Can I buy a new EC and keep my HDB flat?
No, you cannot buy a new EC and keep your HDB flat.
HDB rules stipulate that if you purchase a new EC (from the developer), you must sell your existing HDB flat within six months of the EC’s completion. This rule applies to all owners listed in the EC application.
Key Points:
- New EC: Purchased directly from the developer.
- 6-Month Rule: Mandatory disposal of the HDB flat within six months of EC completion.
- All Owners: Applies to everyone listed in the EC application.
Exceptions:
There are no exceptions to this rule when purchasing a new EC.
Can I buy a resale EC and keep my HDB flat?
Yes, you can buy a resale EC and keep your HDB flat.
Resale ECs are considered private property and are not subject to the same restrictions as new ECs. However, there are some specific conditions and regulations:
- Minimum Occupation Period (MOP): Your HDB flat must have fulfilled the MOP before purchasing a resale EC.
- Singapore Permanent Residents (SPRs): SPR households must sell their HDB flat within six months of buying a resale EC.
- Renting Out: You may rent out your HDB flat with HDB’s approval.
Under what conditions can I keep my HDB flat when buying an EC?
The primary condition for keeping your HDB flat when buying an EC is to purchase a resale EC. Resale ECs are treated as private property and are not subject to the mandatory HDB flat disposal rule.
Key Conditions:
- Resale EC: The EC must be purchased from the resale market, not directly from the developer.
- MOP Fulfilled: Your HDB flat must have completed the MOP.
- Citizenship: Singapore Citizens can retain their HDB flats when buying resale ECs, while SPRs must sell their HDB flats within six months.
Are there any penalties for not selling my HDB flat after buying an EC?
Yes, there are penalties for not selling your HDB flat within six months of buying a new EC.
If you fail to adhere to the six-month rule, HDB can impose penalties, including:
- Financial Penalties: These can be substantial and vary depending on the situation.
- Legal Action: HDB may take legal action to compel the sale of your HDB flat.
- Future Restrictions: You may face restrictions on future HDB applications.
Can I rent out my HDB flat instead of selling it after buying an EC?
The ability to rent out your HDB flat after buying an EC depends on the type of EC:
- New EC: You cannot rent out your HDB flat after buying a new EC. You must sell it within six months of the EC’s completion.
- Resale EC:
- Singapore Citizens: You can rent out your HDB flat with HDB’s approval.
- Singapore Permanent Residents: You cannot rent out your HDB flat. You must sell it within six months of buying a resale EC.
Key Considerations:
- HDB Approval: If you are eligible to rent out your HDB flat, you need to obtain approval from HDB.
- Eligibility Criteria: HDB has specific criteria for renting out HDB flats, which you must meet.
What is the timeline for disposing of my HDB flat after buying an EC?
The timeline for disposing of your HDB flat depends on whether you bought a new or resale EC:
- New EC: You must sell your HDB flat within six months of the EC’s completion.
- Resale EC:
- Singapore Citizens: No mandatory timeline. You can choose to keep your HDB flat.
- Singapore Permanent Residents: You must sell your HDB flat within six months of buying the resale EC.
Let me know if you have any further questions!
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