QLD Property Law - Adding a Person to a Deed of Property?
- Thread starter Jaydine
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- property law
Yes, with conditions. Basically:
One of the current owners will have to transfer them a share of the property. Any encumbrances on the title (e.g. mortgages) will have to agree. Some of these encumbrances will simply need a formal consent, some may have to be released and re-registered.
Transfer duty will be payable on the transaction, calculated on the the amount paid by the person to transfer the property. If there is a degree of relationship between the existing owner(s) and new owner, the transfer duty is calculated on the higher of the price paid or the independent value of the property. The calculation (whatever method is used) will be factored by the share of the property being transferred.
One of the current owners will have to transfer them a share of the property. Any encumbrances on the title (e.g. mortgages) will have to agree. Some of these encumbrances will simply need a formal consent, some may have to be released and re-registered.
Transfer duty will be payable on the transaction, calculated on the the amount paid by the person to transfer the property. If there is a degree of relationship between the existing owner(s) and new owner, the transfer duty is calculated on the higher of the price paid or the independent value of the property. The calculation (whatever method is used) will be factored by the share of the property being transferred.
Hi Rob,
Thank you, do you know who I get in touch with to make this happen? Forms, etc., to fill out?
There's a few moving parts to get it done, including:
- Searching the title
- Arranging any necessary removals
- Creating transfer documents
- Arranging evidence of valuation (where necessary)
- Having the transfer stamped
- Lodging with titles (which may require a 'lodgment in conjunction' with an encumbrance holder)
While it's possible to do on your own, I wouldn't suggest it. What I strongly suggest is engaging a solicitor in your area who does conveyancing. I suggest someone in your area as otherwise your costs will likely go up with the solicitor having to appoint local agents.
If you're on the Gold Coast, I can assist. You can reach me via: Rob Legat, Clear Island Waters Lawyer: Book Online
- Searching the title
- Arranging any necessary removals
- Creating transfer documents
- Arranging evidence of valuation (where necessary)
- Having the transfer stamped
- Lodging with titles (which may require a 'lodgment in conjunction' with an encumbrance holder)
While it's possible to do on your own, I wouldn't suggest it. What I strongly suggest is engaging a solicitor in your area who does conveyancing. I suggest someone in your area as otherwise your costs will likely go up with the solicitor having to appoint local agents.
If you're on the Gold Coast, I can assist. You can reach me via: Rob Legat, Clear Island Waters Lawyer: Book Online
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