Transfers Between Related Parties
If you are looking to transfer property, or a part share of property to a related party, this transaction can be completed as a related party transfer. Related parties include spouses, people in a personal relationship, family members and where the director is both the transferee and transferor. We will provide you with clear communication that is easy to understand so that you can make informed decisions.
Hive Conveyancing offers professional services from a qualified and Licensed Conveyancer who will manage your file from start to finish and keep you regularly updated by phone and email.
Assisting you with transfer of ownership between related parties
We are able to act for both the transferor (owner on title) and the transferee (incoming owner), as long as both parties are in agreeance for our office to represent both parties.
Transferees between related parties can sometimes be completed without a contract for sale. If a transfer of property between related parties is able to be completed without a Contract for Sale, this will save you money on legal fees.
Transfers between family members are liable to transfer duty, however some transfers may qualify for an exemption or concession. We will provide advice and guidance on the necessary requirements if an exemption or concessional rate of duty is applicable in your circumstances.
Once the transferee has achieved formal finance approvals or have their finances in order and are ready to proceed, we can then set a settlement date for the change of ownership to occur. If there are timelines required in any court orders, we will ensure these are adhered to.
Settlement instructions
Most family transfers do not require an adjustment on rates and levies. If you wish for adjustments to be calculated, this can certainly be achieved when we prepare your matter for settlement.
Our office will communicate with both the incoming lender (if applicable) and discharging lender (if applicable) to book in your settlement and provide you with settlement figures to review and approve.
Property ownership changes
Transferring property after a separation?
If you require a property settlement due to a divorce or De-facto separation, we are here to help. We will manage the complexities of your property settlement in accordance with the court orders or mutual agreement by the parties.
Transfers between spouses when one spouse is noted on title
If you are married, or have been in a De-facto relationship with your partner and would like to add their name to the property title, this can be completed as a related party transfer.
A transfer may also be required to add a partner on title when you are refinancing and both parties are required to be on title to obtain finance.
Transfers between family members
Transfers between family members can be completed without an agent or contract for sale. The property may be transferred due to a gift from family members or at a reduced value. Stamp duty is applicable on the market value of the acquisition, unless an exemption or concessional rate can be applied.
Change of ownership
Do you own your property as tenants in common and wish to amend the ownership to joint tenants, or visa-versa? Do you need to amend your share of the property? Our team can assist you with your instructions.
Transferor and Transferee are the same
Related party transfers may include a transfer of property from a natural person to their company, or their company to themselves where they were related parties at the time of the agreement and when the Transferor and Transferee who is a trustee, is the beneficiary.
Transfers to Beneficiary
If you are named as the beneficiary in a Deceased estate, the property can be transferred to you in accordance with the Will.
Hive Conveyancing chooses the PEXA platform that enables us to transact property transactions seamlessly and securely with efficient online property settlements and lodgements. If one of the parties are receiving proceeds from the settlement, the funds are received almost instantaneously (depending on your bank).