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SA Who Can Get My Name on Deed under Property Law?

Discussion in 'Wills and Estate Planning Law Forum' started by marg rouse, 3 November 2015.

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  1. marg rouse

    marg rouse Member

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    Thinking of buying half of my partner's unit so we have joint ownership. Under Property Law, who do we approach to sort out getting my name on the deed?
     
  2. James D. Ford - Solicitor

    James D. Ford - Solicitor Well-Known Member

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    Hi Marg,

    I can assist you concerning your situation.

    To start.. if your partner is your de facto partner... you most likely already have property settlement rights under Family Law, and it does not matter who's name the property is in...

    If you decide to proceed with the transfer, you will need to decide whether you will hold the property jointly, as "joint tenants" or "tenants in common"...


    Kind regards
     
  3. marg rouse

    marg rouse Member

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    Thanks James for your reply. Are you saying that I don't need to go to any expense to have my name on the title, as if push comes to shove, I automatically have rights as we have been living together for 3.3yrs? Also if we go ahead with this, what is the difference between joint tenants and in common.
     
  4. James D. Ford - Solicitor

    James D. Ford - Solicitor Well-Known Member

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    Hi Margi

    Yes, that is what I am saying.

    If you did go ahead -

    "joint tenants" means that whoever survives automatically becomes the owner of the entire property (as long as the joint tenancy has not been severed.. which I will not go into for the purposes of this exercise); and

    "tenants in common" is where you both hold a stated percentage, for example 50% each, and can bequest your share in the Property via your own Will.

    Kind regards
     
  5. marg rouse

    marg rouse Member

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    Thanks again James. So to go to a solicitor, we will also need to have a will put in place with the request for tenants in common which is what we want to do. Also my partner has had the unit for 6 years & obviously has gone up in value. Do I need to get an evaluation & pay half of the current value of the unit?

    Thanks
     
  6. James D. Ford - Solicitor

    James D. Ford - Solicitor Well-Known Member

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    Hi Margi,

    Nothing is black and white, and the entire situation needs to be understood before any legal advice can be given that is tailored to you....

    I assume that neither of you are at risk of going bankrupt... as this is another factor that needs to be taken into account.


    Kind regards
     

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