Transferring Part or Whole of the Property

TRANSFERRING PART OR THE WHOLE OF THE TITLE?

Title transfer: a simple phrase used by many clients that can cover an almost endless scope of possibilities.

CONSIDER A FEW FACTS:stamp2

1. Are you transferring your ownership in the property, in whole or in part (ownership)?

2. Are you adding people on or removing them from ownership?

3. Are you transferring part or the property (transferring part of the land)?

4. Is there a loan/mortgage over the property? Is your lender happy with the arrangements?

5. What will be shared – water and electricity, sewerage, access road, entrance, roof?

SAVE BY AVOIDING LEGAL OVERKILL!

In many cases savings can be made if the transfer is undertaken without the overkill that many law firms might want to employ.  Methods of lender negotiation, avoiding drafting unnecessary contracts, reducing even registration and government costs that aren’t required (including stamp duty) can all benefit you, the client. Like most things in life there are differing ways to do most jobs. Although they all reach the same destination, experience can save you time, money and stress. Basically, avoid legal overkill!

Not every transfer is the same so it’s hard to detail all of the savings and the best processes. Many factors come to play, including among other things: 1. Is the transfer part of a separation agreement, or are you sharing the title with your new partner? 2 Are you gifting for free or for less than market value? 3. Will the title be split for part sale? 4. Is your lender happy with the transfer and risks (if you have a loan)?

 

A SIMPLE SOLUTION.

The solution is simple – just give us a call. Even if you don’t use our conveyancing lawyers we can point you in the right direction. We can help you understand the facts, issues and things to consider. In many cases we can find a quick and inexpensive way of obtaining your desired outcome without a long and protracted legal process.

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