How to Decouple Property in Singapore: A Step-by-Step Guide

Decoupling property can be a complicated process, but with the right guidance, it can be done smoothly. Here’s a step-by-step guide on how to decouple property in Singapore:

Step 1: Hire a Lawyer
Before starting the decoupling process, it’s important to hire a lawyer who is experienced in handling property transfers. The lawyer can help you understand the legal implications of decoupling and guide you through the process.

Step 2: Agree on the Terms
Before decoupling, both parties should agree on the terms of the transfer, including the purchase price and any other conditions. This agreement should be put in writing and signed by both parties.

Step 3: Transfer of Ownership
Once the terms have been agreed upon, the transfer of ownership can take place. This involves completing a property transfer form and paying any fees or taxes associated with the transfer.

Step 4: Refinancing the Property
If there is an outstanding mortgage on the property, the party who is retaining ownership will need to refinance the property to remove the other party’s name from the mortgage.

Step 5: Notify Relevant Parties
Once the transfer of ownership is complete, it’s important to notify any relevant parties, such as the mortgage lender, the property tax office, and the Central Provident Fund Board.

Decoupling property in Singapore can be a complex process, but with the right guidance and legal support, it can be done smoothly and efficiently.

We have completed over 50 decoupling matters to-date. Contact our lawyers at 8780-2499 to find out more!