PR expiry and HDB flat

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dude1981
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PR expiry and HDB flat

Post by dude1981 » Thu, 26 Nov 2009 7:27 pm

Hello Hello,

This topic was posted earlier as well but not answered to a conclusion, thought of reposting and see if anyone have experienced this or have any idea about this.

Question is - Re-entry permit is granted over a certain period of time (5 years usually) and needs to be renewed after that and of course it's on Singapore Govt's discretion to grant a renewal at that time. Now Question is if a PR person has purchased an HDB flat in Singapore and govt decides not to renew the re-entry permit, what will happen to the HDB ownership??

Any guidance on the above question will help me taking a decision to buy an HDB flat.

-Thanks

Singapore Property Search

 

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xtasy010
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Post by xtasy010 » Thu, 26 Nov 2009 9:16 pm

I guess the govt would give a visit visa for you to return and sell the HDB flat.

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sundaymorningstaple
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Post by sundaymorningstaple » Thu, 26 Nov 2009 10:52 pm

That is a fact. You would be required to dispose of the flat. In all probability HDB would either repossess the flat or give you the valuation price less outstanding mortgage balance if any.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

dude1981
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Post by dude1981 » Fri, 27 Nov 2009 9:00 am

Thanks for your replies friends, is there any such referance by a house taken back by HDB on the evaluation or is there any way I can fetch the information on the whole process ( I will initiate a call to the HDB customer care anyways) :-)

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Post by sundaymorningstaple » Fri, 27 Nov 2009 12:16 pm

My answer was based on anecdotal evidence of a couple of years ago where a PR lost same and had his flat taken back by the HDB. The fine details of the case are unknown.

If you find out something in you call to HDB, please post the information here for all so that in the future other's having the same question can find the answer with the search function. That's what this site is all about. This is especially true now that upwards of 15% of all HDB resale flats are being purchased by PRs.

sms
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by wcs » Sun, 29 Nov 2009 1:29 am

SMS, you mentioned previously that you stayed here for 1.5 years working when your re-entry permit was not renewed.

So would it be the case that a PR would be able to retain their HDB flat, just unable to leave the country, if the re-entry permit was not renewed? Well, at least til their economic value had been proven and the re-entry permit re-issued.

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Post by sundaymorningstaple » Sun, 29 Nov 2009 9:37 am

PR and re-entry permits are not the same thing. Although you need PR to own a flat, having a re-entry permit is not a requirement to retaining PR. If you never leave Singapore (even to JB or Batam) then you do not need a re-entry permit. The only time a PR requires a re-entry permit is when they want to leave the country. If I were to stay here forever and never again leave the island even via the causeway, I would not need to renew my re-entry permit at all. But if I were to have to fly home for some reason and I left without it, I would lose my PR if I did so. The HDB flat is contingent on PR and not the re-entry permit.

Hope that clears it up a little bit.

sms
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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Post by dude1981 » Tue, 01 Dec 2009 4:52 pm

Thanks to everyone for suggestions... I have managed to talk to the HDB and here are Highlights -

HDB ownership depends on the PR status and if by any means you do not hold PR status you will have to relinquish the HDB ownership.

Following are the options in such scenarios -

1.) You can transfer the HDB on someone else's name (your relative or someone trustworthy).

2. You can sell the HDB in open market.

3. Worst case HDB will take back the flat either on the evaluation or Purchase price whichever is lower at that time.

4.) On the case to case basis ICA can extend you a Visa to sell off your flat for 3 months maximum and HDB will also give you grace period to maintain the ownership during that period.

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Post by sundaymorningstaple » Tue, 01 Dec 2009 5:57 pm

Which is exactly what I said but in a lot more words. :wink:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

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