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TOPIC: Re:Withdrawing EPF for 2nd property
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Withdrawing EPF for 2nd property 1 Year, 10 Months ago
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I am planning to buy a second apartment by withdrawing from my EPF Account 2.I withdraw from my EPF to purchase my current apartment 10 years ago. I was told that I can only make the 2nd withdrawal after the 1st property has been sold, which I try not to. Can someone guide me with accurate information ? Thanks.
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Re:Withdrawing EPF for 2nd property 1 Year, 10 Months ago
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It was annouced last year during budget 2010, that contributors are allowed to withdraw for 2nd house. But so far, no further information released to public.
However, according to the current EPF guide line, contributors are not allowed to withdraw the saving fr A/c 2, for more than 1 property, unless the first has been sold.
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Re:Withdrawing EPF for 2nd property 1 Year, 9 Months ago
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once sold you need to show the S&P and some other forms to proof that you sold the prop.
I'm in the same boat of which my prop is seremban cannot sell....stuck with it.
Unless you have family members willing to take over for name sake...transfer to them and generate s & p.
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Re:Withdrawing EPF for 2nd property 1 Year, 8 Months ago
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thanks for the feedback. JC, i like your suggestion of transferring the name in the S&P to a close relative. That means, legally, the person has the right to claim the property , is that right ?
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Re:Withdrawing EPF for 2nd property 1 Year, 8 Months ago
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Yes, once you sold with proper S&P and clearance from bank bank and majlis perbandaran, the property belongs to the new owner.
Then you declare at EPF and then you may request to withdraw from Account B for your next property.
Rgds
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