Everyone at Forty Four Degrees who works on client files is a lawyer - they have a law degree, understand the complicated interplay between property law and contracts, know about taxes, and are aware of the complex background of our Torrens (and General law) property system.
Depending on the scope (and we can talk about this till the cows come home) a conveyace should cost about $1650 inc GST. There are added disbursments that may need to be paid, which is different from property to property.
There are documents (such as title searches) that we must order on your behalf. Those are disbursements and we ask you to reinburse us for you. Talk to us about the things that are necessary for your conveyance.
To convey means to transfer something from one person to another. Much in the same way you convey meaning, you also can convey property.
Electronic conveyancing is a system that allows us to register transfers of land (or other property instruments) without needing to print documents out. It is required in Vicotira and we have found it to be reliable, fast, and efficient.
It is important to use a lawyer who is savy with technology to ensure that your transaction is problem free.
A property certificate is a document generated by one of the authorities (water, council, land tax, owners corporation). We buy them for you to ensure that we check all the relevant issues including the fees that need to be paid.
Duty is a type of tax that is payable on the transfer of a property collected by the State Revenue Office. Some exemptions apply and you should always discuss with your lawyer.
PPR is a way we label and single out the property that you live in. Your PPR gets discounts in many ways, including stamp duty, capital gains tax, etc.
It is important to get good legal advsice as to how the property should be owned if more than one person is buying it.
Joint Tenants means that if one owner should pass away, the other owner immediately recieves the share of the deceased.
If you want to leave your property to someone else via your Will, then in those circumstances Tenants in Common may be more appropriate.
There are some circumstances where stamp duty exemptions apply. The principal place of residence can be transferred between the spouses with no stamp duty.
Upon the end of the relationship, we are also able to trasnfer properties with no stamp duty.
The transfer is done via PEXA and we do need to contact the bank to make the title available.
We are able to act for both (or either) of the spouses and ensure the transfer happens quickly and cheaply.
As part of the transaction we draw a line in the sand and ensure that the Vendor and the Purchaser only pay for the rates (council, water, owners corporation, land tax) that applies to the period when they own the property.
Electricity, Internet, Gas, Spotify, and any other things you can think of that is not listed in the Statement of Adjustments.
A good solicitor looking after your matter will talk you thorugh the steps. If you are a client at our firm, always feel free to call us, but chances are, if we are not calling you, there is nothign to do (for now).
Purchasers are process driven transaction and we often wait for other people so that we may then complete the next step.
It is important to be aware of the tax implications of every transaction, even if you are purchasing and not selling. There is an expectation that the purchaser will pay the Vendor's GST to the ATO in some circumstances.
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