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Transferring property in New South Wales between related parties involves several specific requirements and considerations. Here's a step-by-step guide to help you navigate the process:

1. Determine the Transfer Type and Value

• Type of Transfer: Understand if the transfer is a gift, a sale, or a transfer for nominal consideration. We can. discuss the legal consequences, and you will need to discuss this with a Licensed Australian Accountant. 
• Valuation: Obtain a property valuation if the transfer is for consideration other than nominal value. This is a must for Revenue NSW requirements. 

2. Legal Documentation

• Transfer Form: Complete the “Transfer of Land” form which our firm will prepare on PEXA and will be reviewed and signed by the other party as well, which is used to officially transfer ownership. 
• Contract for Sale (if applicable): Even though it's between related parties, having a written contract detailing the terms of the transfer can help clarify intentions and obligations.

3. Stamp Duty

• Calculate Stamp Duty: In NSW, stamp duty may be payable on the transfer of property, even if it is between related parties. Use the Office of State Revenue's (OSR) online calculator to determine the amount.
• Exemptions and Concessions: Certain transfers between related parties might be eligible for stamp duty concessions or exemptions. 
• Pay Stamp Duty: We ensure the stamp duty is paid to the OSR. This is a prerequisite for the lodgement of the Transfer of Land form.

4. Land Registry Services (NSW)

• Lodgement: We submit the completed Transfer of Land form along with any supporting documentation (e.g., proof of identity, payment of stamp duty) to the NSW Land Registry Services.
• Title Deeds: As titles are now digital in NSW, we present you with a title search once the transaction is complete. 

5. Financial Advice

• Financial Advice: Seek independent financial advice to understand any potential tax implications or impacts on your financial situation.

6. Additional Requirements

• Identification: Both parties may need to provide identification and proof of their relationship if the transfer is for nominal consideration or a gift.
• Consent (if applicable): Obtain any necessary consents, such as from mortgage lenders if there is an existing mortgage on the property.

7. Post-Transfer

• Update Records: We then ensure that the new ownership details are correctly updated with NSW Land Registry Services.
• Notify Authorities: We also update relevant authorities and institutions with the new ownership information, such as local councils or utility providers.

Key Considerations:

• Family Law and Estate Planning: If the transfer is part of estate planning or family law arrangements, additional considerations may apply. Consult with our firm in these areas if necessary.
• Tax Implications: Be aware of potential capital gains tax implications if the transfer is not a gift or if there is a change in the market value of the property. You will have to consult an independent Australian Accountant to receive advice. 

Transferring property between related parties in NSW involves careful attention to legal, financial, and procedural details to ensure compliance and avoid potential issues.

Once Probate/Letters of Administration has been granted, we can assist you in transferring the property and preparing it for sale. 

Changing your name on a property title in New South Wales (NSW) requires a series of steps to ensure that the updated information is correctly recorded with NSW Land Registry Services (NSW LRS). Here's a comprehensive guide to help you through the process:

1. Prepare Documentation

• Proof of Name Change: Obtain the official document that verifies your name change. This could be:
  • A marriage certificate (if changing your name due to marriage).
  • A Change of Name Certificate (if changing your name by deed poll).
  • A court order (if the name change is due to a legal decision).
• Identification: Provide proof of identity such as a driver's license or passport, as required by NSW LRS.

2. Complete the Required Forms

• You will need to provide our office with the required forms: We will need you to provide 100 points of identification and sign the required PEXA forms. 

3. Get the Documents Certified

• Certify Copies: We will certify the documents for your needs.

4. Submit the Documents

• Lodge the Application: We then lodge a Change of Name through the PEXA platform. 

5. Pay Any Fees

• Fees: Pay the required fee for processing the name change. The fee amount can be found on the NSW LRS website or by contacting their office. You will also need to pay a PEXA platform fee. 

6. Receive Confirmation

• Processing Time: Allow time for NSW LRS to process your application. Processing times can vary, so check the current timelines on the NSW LRS website.
• Updated Title: Once the name change is processed, you will receive an updated property title search reflecting your new name.

7. Update Records

• Notify Relevant Parties: Inform other relevant parties of your name change, such as:
  • Banks and Financial Institutions: Update mortgage records if applicable.
  • Local Council: We will do. this for you. 
  • Utility Providers: Notify utility companies of the name change.

Additional Tips:

• Legal Advice: If you have any doubts or the situation involves complex legal or property issues, consider seeking legal advice with our office. 
• Documentation: Ensure all documents are correctly completed and signed to avoid delays.

Changing your name on a property title in NSW is a straightforward process if you follow these steps and provide all necessary documentation.