What is Part Purchase and Decoupling

1. A part purchase is where there are multiple owners to a property, and one of the owners buys over the share of the other owner(s)
2. Decoupling is where the husband or wife buys over the share of the other owner of a property in a husband-wife relationship between the 2 owners. 

Why Part Purchase or Decouple
This allows a party to be free to make a purchase of a property as a first time property buyer to enjoy the probability of paying only the stamp duty of a 1st time buyer.

When is it applicable
It usually applies to a situation when the other properties are paid or has very little mortgage left.

How long does it take 
It will take about 8-12 weeks or more to finish the process of part-purchase or decoupling if a bank loan or CPF fund is needed to transfer the purchase. It will take about 2-4 weeks to complete if no bank loan or CPF money is involved. 

When can one purchase another property 
One can purchase as long as the S&P is exercised for the transfer of the share on the property. However, one has to note that if CPF money will be used to finance the new purchase, then the completion of part purchase must be completed 3 weeks or more before the transfer to CPF money for the new purchase.

If you need advice please do not hesitate to contact us, we will refer you to our legal business partners.

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