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TRANSFERRING PROPERTY

Transferring property in NSW, is the legal process of changing the Certificate of Title from one party to another via the NSW Land Registry Services. As of July 1 2019, this will occur digitally (read our article on e-Conveyancing here), as a result, the physical Certificate of Title is being phased out and will be replaced with a digital equivalent. The Certificate of Title is a legal document, which outlines the boundaries of a parcel of land, and lists the official owner(s) of that land. Transferring the Certificate of Title is performed for many reasons such as marriage, inheritance, relationship breakdown, selling property, buying property, taking out a mortgage, discharging a mortgage or simply transferring the property to a family member for any reason.

Under most circumstances the transferee (recipient) of the property, is required to pay stamp duty, based on the market value of the property, which will be obtained by a licensed valuer for these specific purposes.
In addition to calculating stamp duty, the transferring party may wish to consider

  • Calculating capital gains tax. If you are transferring an investment property, it is likely you will pay CGT.
  • Understanding the legal costs, transfer of title costs and possible valuation fees. 

    If you would like further preliminary advice, or would like a flat fee quote on our transferring property service, please phone us and we can help you. If you would like further preliminary advice, or would like a flat fee quote on our transferring property service, please phone us and we can help you.

What our clients say about us

Stacey Sullaphen
Stacey Sullaphen
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Nothing but praise for HLC who handled our purchase right on the border of NSW & QLD, making it tricky indeed. Sue & her team kept on top of everything and informed us every step of the way! Would not consider using anyone else for our Conveyancing or legal needs.
Rick M
Rick M
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I cannot begin to say how easy purchasing a home was with the help of Hunter legal and Conveyancing. Sue and the team made a difficult task simple. I will definitely be using HLC for my next house.
Shane Nevin
Shane Nevin
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I couldn't have asked for better service than what i received from Dawn when purchasing our block of land last year. Very helpful, extremely professional, service with a smile. 🙂
Karen Fenning
Karen Fenning
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Highly recommend Hunter Legal & Conveyancing , Sue and her Team went above and beyond for us they came to our home to sign our new House Contract when it was difficult for us to get out and about with our disabled son.
Leanne McDonnell
Leanne McDonnell
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The Team @ Hunter Legal & Conveyancing are exceptionally great @ what they do as a team, their excellence to detail and support were outstanding, Thanks to Sue and The Team, from the front desk to beyond you all went out of your way to help me achieve the purchase of my new property. I would highly recommend Hunter Legal & Conveyancing. Thankyou ALL again. Leanne. Kurri Kurri.
Steven Sales
Steven Sales
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No mucking around, they just get in and get the job done. Friendly staff Made the process of buying a house less stressful
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Vicki Hobbs
Vicki Hobbs
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I have found them most helpful, with the sale of my house. You would be happy with their service if you went with them.
Mathew Sefian
Mathew Sefian
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Incredible work. I needed people on the ball, proactive and experienced enough to navigate a settlement in 5 days after an exchange. Any one who knows property, banks and sollicitors knows this is a big ask. Hunter legal were all over it !!! And we did it. Great work cant say enough about this team.
Brad Driscoll
Brad Driscoll
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Erin and the team from Hunter Legal and Conveyancing were a pleasure to work with. Made the process straight forward and easy to manage.
Toni Walsh
Toni Walsh
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I work with Hunter Legal on a daily basis and always find them easy to communicate with, always friendly and happy to help any way they can. Would happily refer them to anyone who is wanting to buy or sell real estate.
Chris Lyttle
Chris Lyttle
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The team at hunter legal are very helpful and where able to sort everything out while I was working away. Ebony done an excellent job with the sale of my house and buying my new house.
Darren Doyle
Darren Doyle
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The staff have been awesome right from when I called to get there help in buying our home, highly recommended HLC to everyone looking for professional help in anyway. Thank you so much Susanne you made our job easy. Keep up the great work.
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Kathie Morris
Kathie Morris
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Big thank you to Ebony, Erin and team for handling both property sales and purchases for us recently. All transactions were delivered professionally and thoughtfully, considerate of our time and availability.
Ryan Drury
Ryan Drury
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Fantastic service. Went above & beyond with my recent home purchase. Highly recommend this professional crew. Special shout out to Jasmine for her fantastic efforts. Thank you so much.
Trevor Laker
Trevor Laker
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Sue and Ebony were amazing after having a bad experience with another Conveyancer, a pleasant and easy transaction and nothing was to much trouble for these girls. We would have no problem recommending them they at least sell peace of mind when they take you on as a client.
Terry Bradley
Terry Bradley
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Having moved from interstate and not knowing anyone, Sue was recommended by the real estate agent. She was very friendly and pleasant to deal with especially when we had dramas. Would highly recommend their services.
Kasey Williams
Kasey Williams
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Ebony and Erin assisted me in purchasing my first home. They were incredibly professional and guided me through every step of the process, answering all of my questions and providing valuable assistance along the way. Thankyou so much!
Steve Jarmain
Steve Jarmain
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I have engaged Sue and the friendly team at Hunter Legal twice in 12 months on Conveyancing and purchasing realestate. its a pleasure dealing with such professionals. They are very efficient, have great communication and are very approachable. I highly recommend Hunter Legal and will continue to use their services in the future. Again well done to Sue and your proactive team.... Thank you...
Danielle Fox Harland
Danielle Fox Harland
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Sue Mosley and her team at Hunter Legal and Conveyancing were a pleasure to work with. Sue and Jasmine have a straight forward approach to Conveyancing and legal matters which made the process of purchasing a property stress free and easy. Her honesty, expertise and in depth knowledge enabled us to achieve a property settlement in a short amount of time. Sue and her team went above and beyond our expectations in all areas of customer service and legal representation. We would highly recommend Hunter Legal & Conveyancing.
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THE PROCESS

The below diagram represents the process a person will go through when transferring a property.

TRANSFERRING PROPERTY IN NSW - WHAT YOU NEED TO KNOW

You will need to complete a Transfer Form (formally Transfer Form 01T), which can be found at the NSW LRS website here. A Conveyancer can help you complete this form. If the property is held by multiple parties, then they will all need to sign this form.

Property transfers due to marriage or separation are usually exempt from stamp duty fees, assuming the home is their matrimonial property .

Property transfers to family members for other reasons usually incur stamp duty fees, such as transferring the property to a cousin or sibling.

First home buyers will receive stamp duty concessions for property transfers.

In the case of separation, this can create many complexities, such as calculating contributions to a property, caring for children, et cetera. In this circumstance, it would be beneficial to engage legal representation from a firm offering both Conveyancing and family law as a service.

Types of property ownership

Outright Ownership – Is when an individual holds the Certificate of Title in their name alone.

Joint Ownership – Is when a property is owned equally by multiple parties, and each person has an equal share in the property. This equal share, is not necessarily defined by the amount of monetary contributions. For example, person A contributed 80% and person B contributed 20% of the mortgage, land registries will still view these as equal owners.

In the event of death, a property with joint ownership may be able to be transferred by way of a Notice of Death to the surviving party, without a Grant of Probate.

Tenancy In Common – In contrast to joint ownership, tenants in common is when multiple people own varying amounts in each property. For example, person A could hold 95% of shares of a property, and person B could hold the remaining 5%.

In the event of death, tenants in common do not possess a right of survivorship. Therefore, the Will will need probation to decide upon the new ownership structure.

Trust Ownership – This is an arrangement where the property is owned by an individual or organisation, for the benefit of another party. A common instance of this is when a property is being transferred to a younger family member. There are many considers when planning trust ownership, such as trusts created by a will and tax planning, be sure to have professionals help you.

Company Ownership – Is when a company or business holds the Certificate of Title. An example of this, would be a mechanic purchasing a piece of land to conduct business on. There are many considerations here, such as land zoning, insurance and taxation.

FAQ

Yes.
When there is a mortgage on a property, a bank holds the Certificate of Title until the loan is repaid in full and a Discharge of Mortgage process is completed. Consequently, the Certificate of Title would then be re-issued in the owner(s) name.A property with an existing mortgage can still be transferred to a new owner, providing the bank consents to the transfer.With this knowledge, it is usually up to the individual bank’s policies regarding transfers. They may require the owner to restructure and secure the mortgage against another asset, therefore allowing the property to be transferred.
If a party has recently repaid their mortgage in full, they will complete a Discharge of Mortgage form and submit this to NSW Land Registry Services. One to two weeks later, they will receive a newly issued Certificate of Title. From this point, the agreement with the bank has concluded and the property can be transferred easily.
Contact your bank, NSW Land Registry Services and a licensed Conveyancer to work it out.

Generally not. If they are an eligible first home buyer, and the property is valued at under $800,000, the transferee will receive a stamp duty concession or discount. The transferee will need to complete the normal First Home Buyer Assistance Scheme Form with the assistance of their Conveyancer or Solicitor and satisfy the eligibility criteria.

Yes. We receive a lot of questions relating to different forms of ownership. We are able to help with outright ownership, joint ownership, trust ownership, company ownership and any other complex arrangements.

HOW WE CAN HELP

We can offer the following to assist in property transfer:

  • Help you strategise and structure the property transfer to align with your goals
  • Perform a Title Search on the property (to confirm the owner of the property, mortgage status, existing caveats, existing leases etc)
  • Maintain regular communication with all parties, such as banks, NSW LRS and the transferrers to ensure we’re all on the same page.
  • Prepare all the necessary legal documentation required and manage the process
  • Provide ongoing support. At the end of the transfer, we’ll compile the documentation and send you a digital copy

HELPFUL LINKS

Division of matrimonial property in Australia - Australian Institute of Family Studies

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Stamp Duty Calculator