VIC First Home Buyer Concession on Stamp Duty - Eligibility?

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now


1 September 2014
I have decided to 'buy out' my brother in law's half of the property my husband and I reside in. My husband owns half of the property.
However I found out that I am not entitled to the first home buyers concession on stamp duty at all for this purchase and in fact will never be if I buy with my husband as he utilised the concession when he bought the apartment.
I have been told that if I was to have only my name put on the title and my husband will be a co-borrower on the loan, then I would be eligible for the first home buyer concession on the stamp duty.
My husband is not adverse to this idea, however he wants some re-assurance from a legal perspective that if anything were to go wrong in the future then he would be legally entitled to half the property or it's value.
Of course I also would like to think that if anything were to go wrong, he would have no issues in claiming his stake in the property, despite having only my name on the title.
Should this not be an issue or would you recommend we have something legal drawn up? If this is the case perhaps the few thousand dollars savings may not be worth the hassle?

Any feedback would be appreciated.

John R

Well-Known Member
14 April 2014
Hi @Maritamaz,
Which state/territory are you located in?

Sarah J

Well-Known Member
16 July 2014
Melbourne, Victoria
Hi Maritamaz,

Having your name on the title means that you are the sole legal owner of the property.

However, because your husband paid (will pay) for half of the purchase price, he will have 50% interest in the property in equity under the equitable principles of presumed resulting trust. This means that while you are the full legal owner of the property, you hold 50% of the property on trust for your husband, who is the beneficiary. This is because he contributed to 50% of the purchase price.

Alternatively, given that you are spouses, upon separation/divorce, your husband will be entitled to a share of your assets, including anything solely in your name such as the house. In dividing assets, where there is no prior agreement between the partners, the court will take into consideration, amongst other things, contribution in purchase price, maintenance costs, repayment of mortgages and responsibility of mortgages.