Hi guys does anyone know the process of what happens when you inherit a property? Is there any fees or taxes involved?
any help is really appreciated!
The exact ‘process’ would be best followed up with the executor of the estate or another that deals directly with deceased estates and wills.
From what I could find on the QLD Office of State Revenue, if you were a person given the land in a will or for example a child of the deceased then no Transfer Duty would usually apply when it comes time to appropriate.
You’ll receive more relevant articles if you use ‘deceased’ and ‘deceased estate’ than ‘inherit’ in searches on the relevant Office of State Revenue for you.
Originally posted by sizzling_duck:The exact ‘process’ would be best followed up with the executor of the estate or another that deals directly with deceased estates and wills.
From what I could find on the QLD Office of State Revenue, if you were a person given the land in a will or for example a child of the deceased then no Transfer Duty would usually apply when it comes time to appropriate.
You’ll receive more relevant articles if you use ‘deceased’ and ‘deceased estate’ than ‘inherit’ in searches on the relevant Office of State Revenue for you.
thanks mate. I’m in NSW so I’ll have a look at the NSW Office of State Revenue.
ewhite,
can you give us a light run down when you work out what the deal is?
The departments here in WA keep changing their BL*&DY names!!!! Wouldn’t know where to start.
Cheers
Scremin.Success is 1% inspiration and 99% perspiration.
Originally posted by Scremin:ewhite,
can you give us a light run down when you work out what the deal is?
The departments here in WA keep changing their BL*&DY names!!!! Wouldn’t know where to start.
Cheers
Scremin.Success is 1% inspiration and 99% perspiration.
Hi Scremin, I haven’t been able to find out much information but it seems as thoug the information above is correct. From what I could find I think the WA office is http://www.dtf.wa.gov.au/cms/dtf_index.asp
let me know if you find any useful info
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