Hi – I'm new to the forum, and I'm hoping somebody can give me some guidance. My ex-wife ("ex" as of yesterday) and I took out a loan on our PPOR in Palmerston, NT in 2005. When we separated in 2008, I gave her a sum equivalent to 50% of our equity, and we signed Statutory Declarations waiving her rights to the property. I now wish to sell the property and move interstate. How do I arrange this with regard to the property title? I have paid the mortgage from day one of the loan.
Since both names are on title you will just have to treat it like a normal sale. Get a contract drawn up, find a buyer and both of you sign the contract as sellers. Both of you also need to sign discharge documents for the bank and transfer.
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
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