Could you tell me please whether the sale of my home (in Victoria) to my son and partner can be completed with a
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Customer: Hi, could you tell me please whether the sale of my home (in Victoria) to my son and partner can be completed with a consideration transfer alone or must we enter into contract of sale. My purchasers will be borrowing funds and will be obtaining a professional valuation.
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: Oops - sorry Pearl, I was about to properly address my query to you - not sure how I accidentally sent but thanks for your answer.
JA: Have you talked to a Victoria lawyer about this?
Customer: No - to date we have only discussed the option amongst my family and I have obtained a mortgage discharge authority from my Bank. I worked as a conveyancer for many years but I’m aware that much has changed in the last few years. Unless the incoming mortgagee requires a contract, I would prefer to handle it all by transfer as that may be a cheaper option.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No, but I would prefer to speak to someone not connected to any law firm in North East Victoria, simply for the sake of my own privacy.
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: Oops - sorry Pearl, I was about to properly address my query to you - not sure how I accidentally sent but thanks for your answer.
JA: Have you talked to a Victoria lawyer about this?
Customer: No - to date we have only discussed the option amongst my family and I have obtained a mortgage discharge authority from my Bank. I worked as a conveyancer for many years but I’m aware that much has changed in the last few years. Unless the incoming mortgagee requires a contract, I would prefer to handle it all by transfer as that may be a cheaper option.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No, but I would prefer to speak to someone not connected to any law firm in North East Victoria, simply for the sake of my own privacy.
Answered by John Melis in 5 mins 1 year ago
John Melis
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79078 Satisfied customers
10+ years of experience
John Melis
10+ years of experience
79078 Satisfied customers
Jessica
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John Melis, Expert
Hello, I’m John Melis, a solicitor in Australia, and I’ll be helping you with your question today.
Property can be transferred to your son and his partner. However there will be stamp duty payable on that transfer. There should be an agreement in place with a deed or a contract of sale.
Does this help with your question today?
Property can be transferred to your son and his partner. However there will be stamp duty payable on that transfer. There should be an agreement in place with a deed or a contract of sale.
Does this help with your question today?
Customer
Hello John
Thank you for your reply. You have helped with my query.
I was unsure whether the transaction could simply proceed on the basis of a transfer of land or will need a deed or contract also.
Kind regards
Jean
Thank you for your reply. You have helped with my query.
I was unsure whether the transaction could simply proceed on the basis of a transfer of land or will need a deed or contract also.
Kind regards
Jean
John Melis, Expert
It was my pleasure to help you today, and I thank you for chatting with me.
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