Transfers of Ownership


A Transfer of Ownership involves the transfer of a share in property from one party to another.  Common transfers involve:

  1. A property owned by one party being transferred into the name of two or more parties (eg. husband to husband and wife);
  2. A property owned by two parties being transferred into the name of one party.  (eg. husband and wife to husband);
  3. A parent/s transferring ownership to a child/children.

 

A transfer of ownership between husband/wife, de facto couples (known as domestic partners), or couples cohabitating in a same sex relationship are exempt from stamp duty.  A transfer of ownership between all other parties (including other relatives) will incur stamp duty. The stamp duty will be assessed by the State Revenue Office based on the current market value of the property which is determined by either a market appraisal from a licensed estate agent or a valuation from a licensed valuer.