CONSILIUM CONVEYANCING PTY LTD

CONVEYANCING SERVICES IN VICTORIA WITH A DIFFERENCE

How to Transfer Property Title Between Family Members

Transferring property titles between family members is a common occurrence. This could be a transfer between partners, a gift to a child, or a sale to a sibling. But did you know there are extra legal requirements involved when transferring property to family? In this article we will discuss the steps involved.

There are three parts to any related party property transaction:
  • The first part is deciding how to transfer the property, be it by gift, sale, or holding change.
  • The second part is determining the Title Office costs and stamp duty fees to allow the transfer as well as possible capital gains tax for the vendor.
  • The third part is transferring the property.

We'll first discuss the ways you can transfer property before getting to the tax man.

The following kinds of transactions are considered related party transfers

  • Between parents, children, siblings as well as grandparents
  • Between domestic partners or spouses
  • Same sex couples
  • Deceased estates (transfer to a surviving spouse, executor or beneficiary of the will)
  • Transfer to or from Family or Unit Trusts (including trustee companies)
  • Transfers to or from SMSFs or Self Managed Superannuation Funds
  • Other transfers of title to a relative which are in some way associated (not at arm’s length).

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Conveyancing services

If you are a developer or builder & you are looking to sell a property that you have built, we can help you. The expert team at Consilium Conveyancing Pty Ltd can carry out all the necessary conveyancing work. Our team of highly experienced professionals have years of experience in providing high quality conveyancing services to both builders as well as developers.

Your fees will be fairly quoted and highly competitive and the advice we provide to our clients & protective clauses in our contracts will far exceed the conveyancing fees that we have charged.

Our services include

  • Contract preparation (digital & hard copies)
  • Settlement documentation
  • Settlement attendances
  • Subdivision applications & lodgements

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