Title transfer

[firefox]

Hi,



I am looking to buy a investment property(250K) in Melbourne as a joint ownership with my mother. I want to live in that property for 12 months while I rent out my current home. As I understand Joint Ownership or Joint Tenants means that if one of the owners of the property dies, the property is automatically transferred to the surviving proprietor irrespective of what is stated in their own Will. Do I need to pay stamp duty on the transfer or any other legal cost or fees when later the title is transferred to my name? Anyone got any ideas of the approx costs?
Thanks in advance

 

[Raddles]

Hi there
did change the title for my MIL when her husband passed away - there should be no stamp duty - as it is normally one of the exemptions to legislation when it passes according to a will - the only costs will be registration costs at land titles - contact your titles office in Adelaide or perhaps search one of the online calculators for the likely registration costs.
thanks