All inclusive conveyancing package for title changes, transfers, deceased estates, divorces
A transfer of title of a property is the same as a transfer of interest. A transfer of title implies a transfer of the legal title in entirety, whereas a transfer of interest implies a transfer of a portion of the legal title.
In both cases, the conveyancing requirements and considerations are the same whether an entire title is being transferred, or only a portion.
Step 1: Determine the type of title transfer
There are 4 main categories of title transfers. Please note there may be significant tax implications depending on the type of transfer and specific situation. We recommend that you discuss with you accountant or tax advisor prior to going through with a title transfer.
A) ‘Natural love and affection’ Transfer
- This type of title transfer involves no exchange of money.
- This is usually a property transfer between parent and child, husband and wife, business partners, friend to friend, family member to family member.
- Requirements: all parties must be alive, with no court documents.
B) Court Order / Binding Financial Agreement / Prenuptial Transfer
- This type of title transfer has been mandated by court or is a result of a legal requirement.
- This is usually a property transfer as a result of divorce, or court settlement. There are signed court or binding financial agreement documents in place.
C) Deceased Estate Transfer
- This type of title transfer is a result of a death of the property owner.
- This is usually a property transfer to pass ownership from one spouse to another following a death, or parent to children as a result of a death.
- Requirements: transmission, probate and death certificate.
D) Sale following a title transfer
- This is a title transfer, immediately followed by a property sale.
- This is usually a property transfer involving children inheriting property but opting to sell immediately, or the sale of a house following a spousal transfer upon death of a spouse.
We are property lawyers and will be able to ascertain your specific situation following an initial discussion.
Step 2: Tell us about your specific situation
- We will arrange an initial discussion with you to understand your specific situation. We will want to understand the purpose of your title transfer, involvement of any banks, the type of property and who the transferor and transferee will be.
- Our conveyancing services include a free initial discussion where we will be able to provide you with initial advice. From this discussion, we will be able to determine the parties who will need to be involved in your title transfer.
Step 3: Prepare paperwork for the transfer
- We may have further documentation and information which we require from you. Following our initial phone call, we may request further documentation and information such as bank clearances, legal documentation or government forms.
- Our conveyancing services include coordinating information between the banks, government departments, council, and utilities providers (such as water, electricity and gas services).
- We will keep you informed along the way, but you can rest assured that we will take care of this entire process for you.
Step 4: Finalise and effect the title transfer
- The final step is lodgement of documentation.
- Once the documentation for title transfer is submitted and all parties are happy, the paperwork is stamped, and any funds are released. We will advise you when the title transfer is complete.
- Our conveyancing services include setting up and arranging all lodgement documentation on your behalf. We will take care of the entire process to ensure that the title is transferred as smoothly as possible.
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Title Transfer standard package
We pride ourselves on being transparent with our clients. Once we provide you with a quote, our fees are final and include all disbursements and GST. We will take care of the entire conveyancing process with no hidden charges.
Contact us for a precise quotation as prices vary based on each state.
Is stamp duty payable for transferring property to family members?
Stamp duty is exempted if you are transferring your principle place of residence to your partner/spouse. If you are transferring the property to your child/parent/relatives, stamp duty is calculated based on the property market value.
What fees will occur for the transfer?
There are additional settlement fees associated with a transfer transaction. For example, third party fees such as lodgement with Land Use Victoria, PEXA service fees, stamp duty any bank fees.
How long will the transfer take to complete?
If there is no bank involved, usually the transfer will be completed in 2-3 weeks. However, this depends upon the complexity of the transaction. If there is a bank involved, this will depend on the processing times of the bank. Please note that each bank will have different processing times.