Do You Want To Transfer A Property To A Family Member Or Related Party?
Over the past 35 years, we’ve facilitated thousands of successful family and related-party property transfers throughout Perth.
Family property transfers in Perth
What does a related party transfer entail?
A related party transfer involves transferring a property or a portion of property ownership to a related individual. Related parties include spouses, family members, or individuals and entities in business relationship.
These transactions are not considered “arms length” deals, as the parties involved have an existing relationship and benefit from the transaction differently than in a standard transaction. An obvious example of where a translation is not at arms length is when a property is received as a gift.
Examples of related party transfers include:
- Adding a spouse to the title.
- Change of ownership between related parties for refinancing purposes.
- Property settlements resulting from divorce or de facto separation.
- Transfers between family members as a gift or below market value.
- Transferring property from a deceased estate to a beneficiary.
- Shifting ownership from a trust or company to an individual’s name for tax purposes.
Is a Contract for Sale necessary for a related party transaction?
In certain instances, a Contract for Sale may not be necessary. For example, when property ownership is being transferred based on a court order, probate or letters of administration, a contract is not required. But in most other cases a contrat is the preferred option. We can assist with the preparation of the contract, where required.
A related party transfer is perfect if:
What our clients are saying
Step by step updates. Clear instructions. Very polite phone conversations despite unforeseen delays. An excellent settlement PARTNER in every way imagined.
Well recommended. thanks again
How we work
A Detailed Client Brief
We start by understanding your unique needs. Clarity at this stage saves time and reduces stress later.
Stamp Duty Assessment
We’ll have your transfer assessed so that you’ll know exactly how much stamp duty is payable, if applicable.
Dealing With Mortgages
We work with all banks involved in the transfer to ensure a smooth financial settlement.
Where needed, we’ll adjust the water and council rates as of settlement day.
We arrange and attend settlement ensuring funds and property is transferred correctly and accurately.