Hello,
My partner and I purchased a house in NSW in 2001. For various reasons at the time we only purchased the property in my partner’s name so my name is not on the title or bank loan. We have a joint bank account and have been paying equally for the mortgage since that time.
We recently split up (another one bites the dust !!). At this stage I’ll be buying out my partner. My question(s). 1. Will I have to pay stamp duty (again). We are not married so I think that means we were defacto (hate the term). The price of the property will be around $330K. Would it be advisable to add my name to the title before I get to the transaction of buying the property. What is the approx. price to have a name added to a property title?? HELP !
Thanks
You cannot just add your name to the title. You have to tranfer ownership, ie buy = CGT and Stamp duty. But since you are a defacto you would probably be able to do this without paying CGT and stamp duty.
Better speak to a lawyer or get some free legal advice – do a google search
Terryw
Discover Home Loans
Parramatta
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