Recent content by gldsaucer

No she does not have any assets overseas. All assets are under her Husband's name.

No I would pay 200k on contract as that what its owing on mortgage. I will pay stamp duty based on valuation of 400k. What would be the consequences you can think of doing it this way?

This property is her only home in Australia. She is based overseas and will not be returning to Australia. I read the following on ATO website. "If you do not use it to produce income (for example, you leave it vacant, or use it as a holiday home) you can treat the dwelling as your main...

Thanks Terry. If I paid 200k on the property as per contract. However the valuation came back to 400k and I paid the stamp duty on 400k. Would 400k or 200k be recorded?

Anyone know anything about this? "One other question is that would the 200k sale price be recorded in any database (rp data etc)? I dont want my future buyer to question why the house sold for so cheap. Reply With Quote"

I am not sure whether or not there is CGT that why I am asking for opinions on what I am planning to do and what would be the better option.

She lives overseas and not an Australian citizen; no pension etc.

The house is owner occupied by my Mother in Law and it will be my PPOR. I thought this would not cause CGT?

I guess I should say bad in terms of something amiss that I am not aware of with my plan. Care to explain Asset protection and CGT? The property has never been rented out and it is sold for less than what it was purchased. I guess there is no CGT there? Unless if I missed something?

Hi Guys, I am trying to understand the process of transferring name for a property. Mother in Law would like to transfer the property to my name. There is 200k loan owing on the property. I have asked around to a few conveyancers but the process is still unclear to me. How I understand it...

Hi Guys, I am trying to work out the best possible options when transferring a property from my Mother-in-Law to me. I have thought of a few options below. Please comments on the options whether its good or bad. Ideally I would like as much liquid cash as possible so that I could utilise it...

My partner is currently holding a Temporary visa and I am on a Permanent Residence visa. We are getting married soon. We would like to purchase a second hand established property. Any one know if this is possible with my partner being on Temporary visa? Thank you.

How do they determine that the value is $500000? Do I have to get a valuer to value the property?

Seeing that I will only be paying 200k, I am just wondering how much stamp duty do I have to pay? The other way I am thinking is to pay 200k to my parent-in-law and pay off their mortgage. Once the title is in their hand then apply to SRO for transfer of title and pay stamp duty. Would this work?

My parent-in-law has a house worth about $500k. There is still $200k mortgage on the house. We (my partner and I) are planning to buy the property off my parent-in-law. The plan is to pay off their mortgage in a lump sum from our money. In terms of the conveyancing, stamp duty and paperwork...