LawAnswers.com.au - Australia's #1 Legal Community

LawAnswers.com.au is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

Separation - How to Transfer Property to Daughter?

Discussion in 'Family Law Forum' started by Anony, 2 January 2015.

  1. Anony

    Anony New Member

    Joined:
    31 October 2014
    Messages:
    1
    Likes Received:
    0
    I’ve been separated (not legally) for over 4 years. We have 2 properties, both mortgaged. Can we transfer the ownership to our daughter (not the debt)? Thanks.
     
  2. Sarah J

    Sarah J Well-Known Member

    Joined:
    16 July 2014
    Messages:
    1,314
    Likes Received:
    243
    Hi Anony,

    I don't see why not. You will need the consent of both owners of the properties and, if the properties are still under mortgage, you will need the mortgagee's consent. This means, you will need to make it clear to the mortgagee (bank) that the beneficial ownership of the properties belong to the daughter, but the mortgage repayments will be born by you and your ex, and the properties will still be held as security by the bank for any missed payments or mortgage breaches.

    If your daughter is not yet 18, you may need to place the property in a trust account for her benefit and arrange for trustees.
     

Share This Page

Loading...