Yes for NSW. And I think there has to be no consideration – which would not help the tax position.

NSW has an exemption from stamp duty when transferring from 1 spouse to both spouse – ie adding a spouse to title. But this only applies if main residence and you intend to keep it as the main residence.

Jean,

No, I don't think there is any legislation requiring this. It is just the banks being overly cautious and trying to cover themselves if things go wrong and then the guarantor starts saying "I didn't know I was a guarantor…."

There are many cases, often involving sons with immigrant parents with English as a second language, where the banks have lost out.

And a caveat is not a mortgage and offers no security. A caveat is just a notice that someone has an interest in this property and it prevents further dealings such as mortgaging or transferring title.

It will still be difficult even if the purchaser has 5% genuine savings.

Are you contemplating taking a 2nd mortgage to secure your money? This could make it harder.

Copy and paste of my answer from the other forum

hmmm

1. 1 share – what if you want to bring in someone else later on? I wouldn't worry about losing $10 or $100.

I would be more worried about losing the assets of the trust. If the trustee is sued the assets of the trust are at risk, if these are not enough then the assets of the trustee will be exposed. This is why a company is suggested as it limits liability.

Also consider the many instances where directors can be personally liable.

2. Cash in an offset is an asset. It would be exposed and at risk. If the owner takes it out of the offset and moves it, it would still be exposed and at risk. Doesn't matter where it is.

3. If your agent hired a handyman who was not properly licenced then the agent may share some of the blame.

Brad,

If the properties are in your name at the moment then there would be no units to transfer – I am referring here to units in a unit trust, not apartments.

If CGT applies, this would be calculated at market value. You will need a valuation for stamp duty purposes.

Consider possible effects on social security paynents if applicable.

You can’t count it as your main residence until you have lived in it, usually. There is no time limit in the legislation, as long as you establish it as a your main residence and later move out it could continue to be counted as your main residence – in some instances.

But, if you build or repair a property you may be able to move in later yet still claim it as the main residence from the time you purchased it. s118-150 ITAA
http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.150.html

If this section applies you must live in it for 3 months at least.

In NSW you have up to 3 months to pay stamp duty. But if you are borrowing then the lender won't settle until you have paid.