An HDB flat software distinguishes involving an applicant and an occupier, with significant differences in lawful legal rights and fiscal obligations. An applicant can be a legal owner of your flat, retains a share while in the house, can use their CPF to finance the purchase, and is a celebration on the housing bank loan. Conversely, an occupier is really a family member mentioned in the appliance to type the needed family nucleus to qualify for your flat beneath an eligibility scheme. An occupier has no lawful possession rights into the flat, are unable to use their CPF money to finance the purchase, and can't become a joint applicant to get a personal loan, which may result in a lesser bank loan quantum primarily based entirely about the owner's money. An occupier is subject matter to the identical Minimum Profession click here Time period (MOP) given that the proprietor and should bodily reside while in the flat. This distinction is often a strategic option for couples intending to purchase a next personal property Sooner or later without having incurring Additional Customer's Stamp Duty.