Conveyancing Lawyers

Selling or transferring a property between members of the couple is common. We can manage the process for a fixed fee.

Conveyancing and Title Transfers

If you transfer a share of your property to a former spouse or de facto partner, you won't be responsible for paying stamp duty. The transfer can also be made to a child or children, or to a trustee for the child or children, of one of the parents in the relationship.

The process of transferring house title after separation is relatively straightforward.

Start by checking with your bank to determine if you can secure financing for the transfer of the house in your sole name. Additionally, we will handle all necessary statutory requirements, typically involving Exemption of Stamp Duty forms, Separation Agreement, and Property Transfer Documentation.

Our process is handled by experienced conveyancers and lawyers, and done on a fixed-fee basis.

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Some things to know about
Title Transfers and Conveyancing

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Avoiding Stamp Duty

Stamp duty is a tax imposed on the purchase real estate. This requirement can be waived if the purchase of transfer was made at the end of a marriage or defacto relationship - for example when the family home is transferred over to one member of the couple.

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Loan approval

When seeking financing to finalise a property purchase, it is important to secure loan approval before the Contracts become locked in.

Once the commitment is locked in, cancellation or withdrawal from the Contract is not possible, even if it is subsequently discovered that securing the necessary financing is unattainable.

In this kind of scenario, a person would forfeit the entire 10% deposit, lose the opportunity to acquire the property, and potentially face legal action from the Vendor for losses and damages incurred at resale.

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Clear legal advice

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We assert your rights through mediation, negotiation, and in court.

FAQs

Frequently Asked Questions

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Can one party buy out the other’s share of the property?

Yes, one party can buy out the other’s share of the property as part of a family law settlement. This process involves obtaining a property valuation, agreeing on a fair price, and securing finance to buy out the other party's interest.

Both parties must agree to the terms, and the transaction is usually formalised through a property transfer and Consent Orders or a Binding Financial Agreement.

How is the value of the property determined in a family law settlement?

The value of the property is typically determined by obtaining a professional property valuation from a registered valuer. Both parties may agree on one valuer, or if there is disagreement, each party can obtain their own independent valuation. The court will consider the valuations when determining the property's fair market value during the settlement.

What happens to our mortgage?

The mortgage remains a joint responsibility unless both parties agree on how it will be handled as part of the property settlement. Options include refinancing the mortgage under one party’s name if they are keeping the property, selling the property and using the proceeds to pay off the mortgage, or continuing with joint mortgage payments until the property is sold.

Any agreement on the mortgage should be included in the property settlement to ensure legal enforceability. If refinancing or selling, both parties will need to negotiate with the lender to settle any outstanding debt.

Conveyancing Lawyers

Conveyancing and Title Transfers