Property Transfer or Property Settlement at SD Conveyancing | Parramatta, NSW
Transferring of land or property to another person is not an easy task. As it involves a lot of formalities and procedures, having a team like SD Conveyancing in Parramatta and NSW to help you with your property transfer or settlement will make the procedure go smoothly.
When you plan to transfer the whole or a part of the property or land transfer to a family member, an individual, or a trust, you can count on us to help you. While transferring your property to your family, like your spouse, children, or sibling, a business partner, or a trust, we can complete the entire formality from our office so you will not have to visit us often.
Stamp duty is applied when you are transferring your property to a family or friend, though there are some exemptions. In case there is any mortgage on the property, it is usually discharged.
How Is the Property Transfer Conveyancing Process Done at SD Conveyancing in Parramatta, NSW?
Property transfer Conveyancing is a two-way process. When you choose us for your property conveyancing or land transfer formalities in Parramatta, rest assured that we’ll work with you the entire way and provide you with sound conveyancing advice along with the necessary financial approval.
Once you choose to transfer your property, the following steps will be taken on both sides:
- Steps you need to take:
- CONVEYANCING ADVICE
If you are new to conveyancing or are not sure of the procedures that are involved, it is best to contact us or get a property transfer conveyancing quote. - STATE PROPERTY INFORMATION
You will need to provide us with all the necessary details of the land or property you plan to transfer. You will also need to provide us with all the relevant details of the transferrer and transferee. Once we receive all the required information, we can provide you with accurate advice. - TRANSFER PRICE OF THE PROPERTY
In case there is any change in the price, the transferor and transferee will need to agree on a transfer price. - DEALING WITH THE BANK
Any mortgage that exists on the land or property should be immediately discussed with the bank. The person who received the interest in property will need to discuss with the bank about the transfer and get approval on the home loan.
- Steps We Will Need to Take:
- STAMP DUY AND LAND TAX IMPLICATIONS
Once we go through all the paperwork and review your land transfer or property transfer situation, we will provide you with our feedback and let you know about the implications of stamp duty and land tax. - ASSISTANCE WITH STAMP DUTY
In case you will need to pay stamp duty for the transfer, we will help you in completing all the necessary paperwork and paying the stamp duty.We can also help you arranging the valuation of the property for the purpose of stamp duty. - EXEMPTION FROM STAMP DUTY
If you are exempt from paying stamp duty for the transfer, you will still need to complete the stamp duty exemption paperwork, which we will assist you with. - DRAFTING OF TRANSFER DOCUMENT
Once the above payments are done, we will prepare the transfer documents and send it to you for signing. - BANK LIAISING
After you sign the transfer documents, we will liaise with your bank and will make sure that they are ready with the settlement.
Our aim is to make the process as smooth and easy going as possible. When you need assistance with all the procedures related to property or land transfer in Parramatta/NSW, you can count on SD Conveyancing for the job.
Transfer of Land Guide – How Do You Transfer a Title?
It is best to ensure that when you are transferring your land or title, you avoid making any mistake in documentation or filing as you might need to start the transfer procedure all over in case something goes wrong. Whether you are transferring the land title to your family or a trust, you need to ensure that all the details of the transfer are correct.
The steps involved in transferring a land or a title are as follows:
- COMPLETE THE FORMALITIES THAT TRIGGERED THE TRANSFER
Many times, a land or title is transferred due to some other event or decision that had taken place prior to this transfer. Some examples are:- Property purchase or sale
- Gifting of property
- Death of the owner
- Creating a trust
- Transfer holdings of the title
- Relationship breakdown
Most of these events come with a lot of paperwork and legal proceedings that is different from those of the title transfer. It is best to complete all the necessary formalities and legal work tied to the previous event before proceeding to transfer the title to avoid any complications in the future.
- LAND DOCUMENT PREPARATION AND FILING
Prepare and fill out the transfer of the land document with the help of a professional lawyer so that there are no errors committed in the process. - LODGING DOCUMENTS AT TITLES OFFICE
Once the application form for land transfer has been completed, you will need to lodge it with the Land Titles Office. You will be charged a small fee depending on the type and value of the concerned property. The fee comprises of a flat fee along with a percentage of the property value. - ISSUE NEW CERTIFICATE
Once the title transfer application has been lodged and processed, and all the necessary fees have been paid, a new Certificate of Title will be issued to the new owner of the property.
Types of Property Transfer Between Family Members
Property transfer between family members come in various forms, the most common being in the form of inheritance. Other ways property is transferred includes gifts given, property settlements, and purchases within families. Some of the transfers that take place within family members are as follows:
- Transfer to spouse or de-facto when together:
Transfer of property is common between couples; however, a proof of their relationship should be shown for the same. De facto couples need to live together for at least 2 years to apply for this exemption. No transfer duty needs to be paid if the transfer is between the couple (married or de facto) and the property being transferred is a vacant land to be used for a family home or a family home itself. Transfer due to a breakdown of marriage, de facto relation, domestic relationship, or divorce:
Transfer of property mainly takes place due to property settlement. Though capital gain tax (CGT) is applied during a transfer of ownership, they can be eligible for a rollover if the property transfer is happening due to divorce, separation or breakdown of relationship.- Transfer between family including parents, children & siblings:
This transfer is usually an amicable transfer between the two parties and the properties are usually gifted or sold at a reduced price. SD Conveyancing can help both the parties while transferring the property as no conflict exists. - Transfer between persons in other relationships (e.g. business partners):
Transferring between people in different relationships like to business partners is mostly a neutral territory so it is up to both parties if they require our help in the transfer. However, if the transfer is happening due to a separation in the relationship, we can only represent one party due to conflict of interest. - Transfer to and from Trusts:
If you have properties that are held in the form of trusts or you would like your property to be transferred into a trust, we can help you with the transfer. However, we do not provide any financial advice or suggestions related to how to set up trusts. Transfer when the dealing involves a Deceased Person:
Since a deceased person cannot handle their property dealings, their name should be removed from the Title of the property before any other action can take place. This can be done through the estate administration process, where a representative is appointed to carry out the deceased person’s last will and testament. In these cases, our services are limited to changing the title of the property once the right documents are available and we can handle transmission applications if it occurs with the transfer conveyance. We do not provide any legal services in estate administration.Count on the proficient team at SD Conveyancing in Parramatta to handle your property transfer conveyancing smoothly. No matter who you plan to transfer the property to, we will ensure that the process goes without any issues and will assist you in every step of the way. Contact us today for more information
WHAT YOU SEE IS WHAT YOU PAY
We provide you with a quote which encompasses all our fees and charges. One can be assured this is a one-time payment and there will be no surprise payments for you.
CUSTOMISED SOLUTIONS
Every client is different, so are their concerns. We offer customized solutions through our Licensed Conveyancer who will solely attend to your case until it reaches completion.
HASSLE-FREE ONLINE CONSULTING
We have a highly responsive, prompt online system that enables the Conveyancer to interact with you and offer solutions, thereby ensuring a seamless business experience with us. This saves you the effort and time of physically visiting our officesagain and again.
LICENSED CONVEYANCERS
We have been in the trade long enough to know the intricacies. Your transactions will be safe, effortless, and peaceful with us.
With a team of qualified conveyancers who provide contract review for property-related transactions, SD Conveyancing is the most recommended Conveyancer in Parramatta/NSW. Having an expert review your contract will save you a lot of hassle in the future. To get your contract reviewed today, get in touch with us and we will answer all your queries. Besides Parramatta, we also offers transfer property conveyancing service in Other NSW suburbs such as Blacktown, Penrith, Baulkham Hills, Harris Park, Liverpool, Mt Druitt, North Parramatta, Quakers Hill, The Ponds, Wentworthville, Rouse Hill, Seven Hills, Hornsby, Bella Vista.
