Cancel the ownership of the house

Can I delete my name from the title without paying the premium and remortgage?

A: Yes! For details about "Transfer of Ownership", please refer to the following website of the Housing Department!

According to the Housing Ordinance, ownership cannot be freely transferred unless the unit is resold in the secondary market or the premium has been paid two years after the date of first sale. However, under special circumstances, the Housing Authority (HA) may, on a case-by-case basis, approve applications for transfer of ownership. The reasons for applying for general ownership transfer are as follows:

-Transfer of ownership to spouse due to divorce or separation application;

Owners transfer their ownership to other family members due to immigration or long-term overseas work;

-Application for change of ownership due to down payment or mortgage contribution of registered family members;

-The owner changes ownership due to bankruptcy;

In addition to the above reasons, other reasons will be considered under special circumstances.

(The above reasons are only excerpts. My personal opinion is that these reasons are more suitable for questioners! )

Prerequisites for application

-The transfer of ownership must be in the form of a transfer contract that does not involve monetary costs (except in bankruptcy cases);

-The prospective transferee must be a registered family member of the property owner (except in the case of the death of the owner).

Need to know the application

The applicant must fill in all the information required for the application, otherwise we have the right to refuse the application.

The applicant must explain the reasons for the transfer of ownership in the application form and submit copies of relevant supporting documents, such as:

-When applying for transfer of ownership on the grounds of divorce, a copy of the absolute judgment (divorce) and the court order must be submitted;

-When applying for transfer due to the bankruptcy of the owner, a copy of the bankruptcy order, summary procedure order and transfer consent of the Official Receiver's Office must be submitted.

Applicants are required to pay a handling fee (currently HK$ 2,654,38+000) when submitting their applications. Even if the application is not approved, or the applicant intends to cancel the transfer application, the handling fee paid will not be refunded.

After the application is completed, it must be sent to the lease management office.

After receiving all the documents, the housing subsidy branch office usually sends a letter to inform the applicant of the application result within about six weeks.

Please click the link to download the application for property right transfer:

Image reference: Housing Authority /hdw/images/mon/icon/I _ pdf.

HD7 (PDF format, 175 KB)

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The above information is only an excerpt, which I think meets the needs of answering questions. In fact, there are more detailed information! Please log in to the above link and have a closer look!

According to the above information, the landlord meets the conditions of "transfer of ownership to spouse due to divorce or separation application". You can apply to transfer all the ownership to your ex-wife according to the above method!

Please note that these transfer procedures can transfer the ownership of the property to your ex-wife without paying the premium. But there will be a time limit! That is, you'd better complete the transfer formalities as soon as possible and delay the time of filing for bankruptcy as much as possible. It is best to file for bankruptcy after completing the transfer formalities of this property for more than one year (the longer the better)!

Because when you file for bankruptcy, this department will check your assets. Suppose you rename your property to someone else's name shortly before filing for bankruptcy, the department may think that you deliberately transferred assets to avoid paying off debts! When you have the opportunity to reject your bankruptcy application, you have the right to declare these transfer procedures invalid and recover the ownership in your name!

Please note that it is mentioned in the above information that "when applying for the transfer of ownership due to the bankruptcy of the owner, you must submit a bankruptcy order, a summary procedure order and a copy of the consent letter issued by the Official Receiver's Office for the transfer of ownership. The meaning of this passage is that the owner will not transfer ownership before bankruptcy. At this time, because the ownership has been controlled by the department, the party accepting the ownership has to pay the property price accepted by the department to get things done! Therefore, the transfer of ownership should be completed at least one year before the start of bankruptcy proceedings, otherwise I am afraid it will be difficult to escape the investigation of the department!

Another way is to sell the property as soon as possible, and the department has the right to pursue the proceeds (if the sale time is less than one year, it will go bankrupt)! However, you can explain to the department and provide proof of divorce agreement. This property was intended to be owned by your ex-wife when you divorced, so the money after the sale belongs to your ex-wife! Since your ex-wife is not bankrupt, theoretically, the department can't force her to freeze her money, but the unsold real estate department can nail the lease, so I suggest your ex-wife consider selling the property as soon as possible!

Reference: cecimak's experience and understanding as a bankrupt! I hope I can help you! ,