We are booked out for urgent contract reviews on Thursday, 31 August 2023. There are still two spots available for tomorrow.
- 71 St John Street, Launceston
- Mon to Fri 9.00 am to 5.00 pm
- 03 6331 5500
- info@sproal.au
Title transfer
What we look after for you...
Types of title transfer
Family transfer
Generally with no financial agreement or exchange of money between parties
- Transfer from parent to child
- Transfer from partner to partner or to one partner only (husband/wife/de facto)
- Transfer between siblings
- Transfer between friends
Estate transfer
- Transfer by way of assent to beneficiaries
- Transfer of jointly owned party to surviving party in consequence of the death of a joint tenant (a Section 100 Survivorship Application)
- Transfer to executors of an estate (a Section 99 Survivorship Application)
Transfer due to relationship breakdown
- Transfer pursuant to court orders or a binding financial agreement
- Transfer to sever a joint tenancy (change to tenants in common)
Frequently asked questions
What do I need to first?
The first step is for all parties to the transfer to reach an agreement and enter into any documents required to evidence that agreement, such as court orders, a binding financial agreement, a deed of gift, or a contract for sale.
We can assist with a deed of gift or a contract for sale. We do not prepare court orders or binding financial agreements.
We have reached an agreement, what next?
If there is a mortgage registered on the title to the property, you should contact your banker to discuss your options. You will most likely need to discharge the current mortgage to complete the transfer.
If you do not have access to sufficient funds to pay out the loan, the party receiving the property will also need to refinance and take out a new mortgage.
We will start preparing the transfer documents once you have submitted an application to refinance.
If you do not have a mortgage, we will start preparing the transfer documents straightaway.
Do I need to pay stamp duty on the transfer?
Yes, stamp duty will be payable on the share transferred unless a duty exemption or concession applies. The amount of duty payable will usually be based on the current Government valuation for the property. If you know the property ID number, you can lookup the Government valuation here.
We can find out the current Government valuation for you if you request a quote.
If there is no Government valuation available for the property yet, you may need to obtain a valuation report to determine the duty amount payable.
What stamp duty exemptions or concessions are available?
You can find a full list of duty exemptions and concessions on the State Revenue Office's website.
The main ones to note are:
1. The personal relationship duty exemption - this applies when a property is transferred from being solely owned by one party to a marriage or significant relationship, to both parties of a marriage or significant relationship jointly (50/50). The property must be their principal place of residence. An application form is available here.
2. Breakdown of relationship duty exemption - you will need court orders or a binding financial agreement. See more information here.
I own property jointly with my ex-partner. How do I stop my share in the property automatically going to them if I die before the property is sold or transferred?
You should sever the joint tenancy so you own the property as tenants in common in equal shares.
The easiest way to achieve that is to submit a Declaration of Severance of Joint Tenancy. We can assist you if required.