Can I transfer ownership of a pre-construction condo?

bsinsan wrote: ↑ Not selling it but planning to transfer to one of my family members, is it possible to do that?

Yes, you would do an amendment with "Insert/Delete" clause that will be signed by all parties (you, the family member, the builder) and the title will be transferred to the family member.

Clueless Fox wrote: ↑ Yes, you would do an amendment with "Insert/Delete" clause that will be signed by all parties (you, the family member, the builder) and the title will be transferred to the family member.

Where can I acquire such amendment document? Directly from the builder or I need a lawyer to do that?

bsinsan wrote: ↑ Where can I acquire such amendment document? Directly from the builder or I need a lawyer to do that?

You can contact the builder and let them know that you'd like to transfer the name and they will explain you the process. Usually builders don't have an issue with this (sometimes they can be strict, or charge you legal fees, or ask for similar documentation of the family member as they did with you).

bsinsan wrote: ↑ Not selling it but planning to transfer to one of my family members, is it possible to do that?

Just a heads-up, do it ASAP. Once you get closer to closing, builders may not do it or charge you $$$.

I tried to do this with Daniels and Pemberton and both said it was not a problem but they will do it on occupancy / closing. If you have any tips, please DM me.

Contact the builder ASAP, and request for this amendment.

They will need the info about the family member including name, employer, and a copy of driver's license. Then they will prepare the amendment for signature by all three parties.

Your name will not be deleted at this time. They will only add the new name as a co-owner. At the time of closing you will need to request the lawyer to prepare the title only on your family member name.

Hope it helps.