Joint Tenancy to Tenancy in Commons of UNEQUAL shares

[leslens]

Hi gurus

Can someone enlighten me on the Stamp duty payable and any SSD payable in the scenario of

1. property bought 2013 (4 years SSD applies)
2. Joint tenancy

I wish to convert to a 90% 10% unequal share ratio from joint tenancy to tenancy in commons

do i need to pay 3% of 40% of the market price for stamp duty

or do i need also to pay SSD of 40% of market price for SSD?


Thank you!

[princess_morbucks]

IIRC, if you are converting from a joint tenancy to a tenancy in common where both parties have 50- 50% or if a tenancy in common of 50-50% to a joint tenancy, then it will not be considered a sale (ie no BSD, no ABSD, no SSD).

As for conversion in any other form, it will be considered a sale.

[Allthepies]

Sorry to hijack your thread, joint tenancy has to be equal shares between both parties I.e. 50%-50% or can it have different percentage eg 20%-80%?

[chestnut]

http://www.ramdwong.com.sg/news/jan01/ownership.htm