All Topics / Finance / Going on title and Stamp Duty

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  • Profile photo of Joseph12Joseph12
    Member
    @joseph12
    Join Date: 2008
    Post Count: 57
    February 27, 2009 - 5:08 am

    Hi,

    If a applicant is the sole borrower of the loan and is on title of the property.

    Then the applicant marries and refinances the loan to include the spouse on the loan and on the title.

    Does the spouse need to pay stamp duty in order to be on title?

    Please advise ?

    Thank you.

    Profile photo of CentralChoiceCentralChoice
    Participant
    @centralchoice
    Join Date: 2008
    Post Count: 64
    February 27, 2009 - 5:22 am

    I don't believe so if it's a spouse. Check with a lawyer but I do think that the 50% share can be done through "love and affection"

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 27, 2009 - 6:48 am

    Many states have exemptions from stamp duty for the adding of a spouse to the title if it is an owner occupied property.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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