Transferring Property

Transferring Property

The transfer of property from one person(s) to another owner is another area that we have plenty of experience in. 

A common reason for property transfer is a marriage or de facto partnership break up or for business reasons to reduce losing a property due to litigation. Property involved can be commercial or domestic in nature. Property transfers generally only take as long as the banks take to process new mortgages, which is often two to three weeks. 

The most common reason for a transfer is a marital break up and we are here to help and assist so the transfer goes through smoothly in what can be a stressful time for many people.

property transfer

Contact us today for a stress free property transfer with an experienced conveyancing team.

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So just what is Stamp Duty?

So what is Stamp Duty and why do we have to pay and where does the money go?

It adds to the cost of buying a property and can be a nasty surprise to some people when they are adding up the sums to do their budget.

Stamp Duty is a tax on certain acquisitions including gifts, home loans, insurance and of course real estate.

It has to be paid to your local State or Territory Government within 30 days of the date of purchase settlement. The State and Territory Govts then re-invest the duty in services for all in the community – police, health, education, roads, transport and emergency services to name a few.

As Stamp Duty is decided and managed by the various State and Territory Governments the rate of stamp duty can vary from state to territory and possible exemptions and discounts can vary as well. First home buyers for instance may receive a discounted rate in some states to help get people into the housing market.

For those of you here in Victoria just click on this link to get more detail on Stamp Duty including access to a calculator and a list of exemptions and concessions.

  1. What to expect in 2017 Leave a reply
  2. What exactly is conveyancing? Leave a reply
  3. What documents do I need before I can sell my property? Leave a reply
  4. When do I receive my deposit? Leave a reply
  5. Can the purchaser change their mind after signing the Contract of Sale ? Leave a reply
  6. What happens on the day of settlement and do I have to attend? Leave a reply
  7. Who notifies the authorities of the change of ownership? Leave a reply
  8. When should I sign the Contract of Sale? Leave a reply
  9. How and when do I organise my finance and settlement of property? Leave a reply