Transfer of property to family SA

[JASA]

I am thinking of buying my parents home, a rural property 3.3 acres with 3 bed home in SA. Dad died a month ago. Mum needs smaller low maint home now. It would become my PPOR. I have been living in the home with mum for past 3 years anyway. Would I still need to pay full stamp duty? Is there any financial benefit other than saving RE agent fee? It would not be gift, I would be paying Market value. Thanks in anticipation for any advice.

 

[Terry_w]

I am thinking of buying my parents home, a rural property 3.3 acres with 3 bed home in SA. Dad died a month ago. Mum needs smaller low maint home now. It would become my PPOR. I have been living in the home with mum for past 3 years anyway. Would I still need to pay full stamp duty? Is there any financial benefit other than saving RE agent fee? It would not be gift, I would be paying Market value. Thanks in anticipation for any advice.

Normally yes. But seek legal advice on the terms of the will.

 

[JASA]

Thank you Terry w