Hi All,
I'm new to this forum and have some questions from reading everyone's posts.
Can anyone explain the difference between doing a title transfer to spouse, and to 'sell' to spouse?
I know conveyancer can do title transfer, but I have also heard that only some solicitors are able to transact 'selling' to spouse. I want to know if this is true and if so, can anyone explain why is this? Or recommend a solicitor that has experience in this type of transaction?
Thanks.
Why are you doing this?
You should not use a conveyancer as your need additional legal advice in relation to estate planning, taxation, equity, family law and insolvency, stamp duty.
In Vic it can be done with nominal stamp duty, but if it is being done for investment purposes any interest will only be deductible if one spouse borrows to buy the other spouse at full market value.
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
Hi Terry,
Thanks for your reply. I am asking as we plan to move out from our PPOR and retain it as an IP. PPOR is under my wife's name only and I will 'buy' from her based on market value. The fund will then be used to buy new home. I managed to find some info through the link below. Looks like a conveyancer is all that is required. Or do you think a solicitor is required in this instance?
http://www.intuitivefinance.com.au/homeloans/selling-property-to-your-spouse/
OMG a conveyancer advising on asset protection!
A conveyancer can transfer title but what about the rest. If you stuff it up you won't be able to claim any interest.
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
Hi Terry,
I am concerned by your reply. What sort of legal advice do I need?
I know that you are a solicitor in Sydney. Do you have anyone that you can recommend here in Melbourne?
You need legal advice in relation to succession, bankruptcy, family law and most importantly taxation. You each may need separate legal advice too.
Sorry, don't know anyone down there.
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.
