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There are many aspects - legal and tax. See my post above about potential problems. What if there is a dispute with your parents and they want to move out and want their money back? Who owns the granny flat? You legally, but they have a non legal interest too. What if both parents die and the...

If it is transferred due to a family law settlement then the ATO considers that any payment doens't relate to the purchase of the other spouse's property but to a property settlement.

The interest on the loan used to buy out your wife won't be deductible even if the property becomes an investment. What granny flat interest monies? Are you proposing your parents will pay you some money and/or pay for the construcction of a GF on your land? Don't do anything without legal...