Property Transfers
Transfers between related parties, transfers by reason of marriage breakdown and transfers to and from family trusts and self-managed super funds.
Transferring Ownership of Property
Not every property transaction is a sale on the open market. Transfers between spouses, parents and children, family trusts, self managed super funds and estates each have their own stamp duty and registration considerations. The work needs to be coordinated with your accountant so the structure and the tax position are right before the transfer is signed.
Common Reasons for a Property Transfer
Transfers commonly occur to add or remove a spouse from title, restructure ownership for tax or asset protection purposes, or move property in or out of a trust or self managed super fund.
Transfers Between Family Members
A transfer between family members is still generally treated as a dutiable transaction and stamp duty is usually payable on the market value of the interest being transferred, regardless of whether money changes hands.
Issues Specific to Non-Sale Transfers
Separation and Deceased Estates
Transfers made under a family law order or binding financial agreement, or as part of administering a deceased estate, are treated differently for duty purposes and may qualify for a specific exemption. A transmission application is often required first to register the executor or administrator before the property can pass to a beneficiary or be sold.
Duty and Tax Considerations
Outside the limited exemptions that apply to spouses under a relationship breakdown or certain deceased estate transfers, duty is calculated on market value and a valuation may be required. Capital gains tax can also apply, so we recommend coordinating the transfer with your accountant before documents are signed.
Mortgagee Consent and Documentation
Where the property is mortgaged, the lender's consent is usually required before a transfer can proceed, and refinancing may be needed if one party is being removed from the loan. We prepare the transfer and any accompanying documents, such as a deed of gift or trust documentation, for correct execution and lodgment.
Our process
How a matter of this kind moves from first contact to outcome.
Confirm the Purpose
We identify the reason for the transfer and the duty and tax consequences that follow.
Coordinate with Your Accountant
Duty and tax positions are confirmed before documents are prepared.
Obtain Mortgagee Consent
Consent or refinancing is arranged where the property is mortgaged.
Prepare Transfer Documents
The transfer and supporting documents are prepared and signed.
Settlement and Registration
The transfer settles electronically and is registered on title.
How Shah & Co Lawyers can assist
We make sure the duty position and the paperwork are settled before you sign anything.
Transfer Preparation
Preparing transfer documents for family, trust or super fund transfers.
Duty and Exemption Advice
Assessing whether an exemption or concession applies to your transfer.
Family Law Transfers
Transfers under a financial agreement or family law order.
Estate Transfers
Transmission applications and transfers from deceased estates.
Mortgagee Liaison
Arranging lender consent or refinancing where required.
Settlement and Registration
Electronic settlement and registration of the transfer.
What we check before a transfer
- Whether a duty exemption or concession genuinely applies.
- Market valuation requirements for duty purposes.
- Capital gains tax implications, in conjunction with your accountant.
- Mortgagee consent or refinancing requirements.
- Correct execution of transfer and supporting documents.
Frequently asked questions
General information only. Every matter turns on its own facts.
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