Title transfer between relatives
This is a wide reaching, complex area of conveyancing and an area in which it is critical to get the right advice.
Unfortunately, to get these types of transactions right, it is often important to get financial, banking, accounting and even family law advice. So it’s not as simple as appointing any old conveyancer and asking them to ‘transfer your property’ – because that is exactly what they will do.
Many clients come to us and just ask us to save them as much stamp duty as we legally can. However, we dig deeper and have the client look (with advice from qualified professionals if necessary) at their financial circumstances, the impact on capital gains tax (CGT), potential problems with pensions and other Centrelink payments, negative gearing and asset protection.
Once we have been able to work out with the client and their advisers the best way forward we provide a fast, friendly and professional service all the way to the lodgment of the new ownership on the title. And yes, we still make sure you pay the minimum legal amount of stamp duty for the transaction.
The following kinds of transactions are considered related party transfers:
- Between spouses or domestic partners
- Deceased estates (Transfer to a surviving spouse, executor or beneficiary of the will)
- Between siblings, parents, children and grandparents
- Same sex couples (Some states provide stamp duty exemptions)
- In and out of self-managed superannuation funds (SMSFs) including out of a bare trust or custodian trust, once a mortgage has been discharged
- In and out of family or unit trusts (or companies)
- All other transfers of title where the parties are in some way associated (not at arm’s length).
Request a quote!
If you’re in need of our Property Conveyancing services, you can book online by clicking on the button below.