All Topics / Legal & Accounting / Transfer PPOR to Spouse – Mortgaged Property

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  • Profile photo of Stix1771Stix1771
    Member
    @stix1771
    Join Date: 2010
    Post Count: 2
    June 28, 2010 - 11:08 pm

    Hi Guys

    Sorry if this has been posted elsewhere, but I (think) have a very simple query.

    I live in Victoria and our PPOR has a mortgage and is in joint names with my wife.

    I wish to transfer the title of the property to my wife…….

    Could someone please advise the process, forms and costs involved? 
    Are there any issues re: the mortgage by pursuing this action?

    Many thanks in advance and very much appreciated

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 29, 2010 - 12:00 am

    You will need to convey the title to her, so will need a solicitor or conveyancer. Stamp duty may be exempt in VIC. You will also need to re-apply and requalify for the loan. Legals $1000 approx plus loan discharge and app fees.

    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

    Profile photo of Stix1771Stix1771
    Member
    @stix1771
    Join Date: 2010
    Post Count: 2
    June 29, 2010 - 2:17 am

    Thanks verry much Terryw, much appreciated!

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

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