Though transfers of land also occur when there is a contract for the sale or purchase of land, there are many instances where no contract exists. There are a multitude of reasons why a transfer of land would occur without a contact of sale. Here is a non-exhaustive list of transfers we can undertake on your behalf though PEXA (ie electronic settlements);
- Transfer between Husband and wife (or defacto couples) for reasons such as;
- Placing a property into a various type of trust;
- Transferring the property to an ultimate beneficiary of a trust. We also have experience in making application to the State Revenue Office (SRO) for the exemption of stamp duty where transferring to a beneficiary without consideration. Refer to this pdf for further information;
- In the case where there is jointly held property and one of the joint holders passes away, we can make application by surviving proprietor (ASP) for the transfer of the property to the surviving partner. Call us to discuss how jointly held property is dealt-with after the death of a joint proprietor.
- Property of a deceased (Where not jointly held) must be transferred to the executor of the Will or Administrator of the estate as the case may be. Once probate or letters of administration has been granted, we can make Application by Legal Personal Representative (LPR) to have the property transferred into the executors/administrators name and depending on the desired result, a further transfer to the purchaser or end beneficiary.
- Where a property has been subdivided in multiple names, and the resulting legal ownership is to be separate titles for each landholder, we can make application of this “transfer by partition” to the land titles office. Where appropriate, we can also make application to the SRO to have the some or all of the transfer duty exempted.
- Another type a transfer is by way of adverse possession. Have you had a piece of land available to your exclusive use for 15 years or more? Call us to for an obligation free discussion with regard to making application for adverse possession (and ultimately a transfer) of a piece of land.
The circumstance of each situation will determine if stamp duty is payable in each respective case. Also, other taxes such as capital gains tax needs to be evaluated in each case.
We can also assist in making application for a replacement of lost title where the certificate of title has not been nominated to an electronic system and the paper title cannot be found.