What is a Transfer of Ownership?
A Transfer of Ownership is where you are transferring your property from one owner to two or similar, and is commonly used in situations where:-
- one person transfers ownership to two (ie husband to husband/wife);
- two people transfer ownership to one (ie husband/wife to wife);
- mother and father transfer ownership to child or children.
A transfer of ownership between husband/wife, de facto couples, or couples living in a same sex relationship are normally exempt from stamp duty.
A transfer of ownership between all other persons will be subject to stamp duty. The stamp duty will be assessed by the State Revenue Office based on the current market value of the property.
If you would like more information about how we can assist you with your Transfer of Ownership, please contact our office.
