Property Transfers and Other Conveyancing Services In Dubbo, NSW

There are some occasions when a property is ‘transferred’ either in full or in part to a family member or related party where a full contract is not required. This type of transaction can still be complex and stamp duty implications must be considered.

Ensure you get the right advice, call the experts on 02 6882 1133!

More information about property transfers:

Breakdown of marriage or de-facto relationship

This is one scenario when a property transfer may take place. When a marriage or de-facto relationship has broken down, one party may decide to take on a property in their sole name.

In these cases, an exemption of stamp duty may be available however written evidence must be provided, usually through a binding financial agreement or a consent order.

We can apply for the exemption of stamp duty on your behalf and, if applicable, we would liaise with your lender to discharge the existing mortgage and prepare a new mortgage in the remaining party’s sole name.

Transfer due to marriage or de-facto relationship

In this scenario, if a property is in one party’s sole name, their spouse can be added to the title with no stamp duty payable, as long as it’s the principal place of residence or vacant land on which they intend to build their principal place of residence.

We can apply for the exemption of stamp duty on your behalf and, if applicable, we would liaise with your lender to a discharge of the existing mortgage and preparation of a new mortgage in both names.

To a family member

Sometimes one family member may choose to transfer either part of, or the whole property to another member of the family. This can be done as a non-contract transfer. In this scenario, a valuation for stamp duty purposes would need to be obtained. Stamp duty is payable on either the current market value or the purchase price (whichever is the higher amount).

We would liaise with your lender for a discharge of mortgage in the current owner's name and finance approval for the incoming owner's name.

We would also arrange for the valuation to be done so the stamp duty can be calculated.