What's happening?
Not every change of ownership involves a sale — property can also be transferred between parties for other reasons, such as adding or removing a person from title, or as part of restructuring how a property is held. These transfers still require formal documentation and registration.
What could it mean for me?
- Transfers can have duty and other financial consequences depending on the circumstances
- Existing mortgages may need lender consent before a transfer proceeds
- Title needs to be updated correctly to reflect the new ownership structure
- The reason for the transfer can affect what documentation is required
What are my options?
- Confirm the purpose and structure of the intended transfer
- Check with your lender if the property is mortgaged
- Obtain advice on any duty or tax implications from your accountant
What happens next?
- Discuss the intended transfer and its purpose
- Confirm lender consent if required
- Prepare the transfer documentation
- Lodge documents for registration
How can MGE Lawyers help?
We prepare and manage property transfer documentation, helping ensure title is updated correctly and that any lender or registration requirements are met.