Just wondering which documents really need stamping as opposed to just witnessed by JP.
Obviously where there is any duty to pay would require stamping, but what about a simple loan agreement, or a simple deed or agreement where there is no duty to pay……..for the document to be valid does it still need to be stamped or is a JP witnessing the execution of the document enough?
‘stamping’ is only done for revenue purposes. There is duty on mortgages in some states such as NSW for non natural person. Trust deeds in NSW and VIC are also stamped with duty payable.
For a deed there is no stamping needed unless the duties act imposes it. No JP witness required either, just an adult who is not party to the deed. Same with contracts.
The phrase ‘signed sealed and delivered’ is from the olden days when most companies had an official ‘seal’.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
