Changing title from joint tenants to tenants in common
- Thread starter Cales405
- Start date
Stamp duty should not be payable if it is a PPOR. I helped arrange this for my parents a few years ago with their PPOR in Melb. From memory, it was several hundred dollars for registering title and the solicitors fees.
The details are not close at hand now, but amongst some other items attended to including testamentary trusts and POA's, the whole deal came to less than one thousand, so the tenants in common would I dare say be still only a few hundred dollars to set up.
Is it the same for NSW regarding the stamp duty? That is my main concern, as if I have to pay that, then it is not really worth changing.
Not sure about NSW. Have a navigate of this site:
http://www.osr.nsw.gov.au/
Also give OSR a call and also call your solicitor to be sure.
Thanks for your help Michael. I asked my accountant and he advises I would be required to pay stamp duty on the 48% that would be transferred and would require a valuation
