Property transfers do not always need to include a Contract of sale, in fact it is usually uncommon for one to completed when the parties are related. If all parties are in agreement, the exchange of all or part of the property can be done by a solicitor on behalf of all parties.
There are different requirements for related party property transactions and the right advice and guidance is crucial to ensuring that all items are in place before the transfer occurs. There may also be exemptions in respect of the transfer duty (that would be applicable to the transaction) available depending on your circumstances.
Transfers of ownership can be stressful and time consuming, but with the right guidance and assistance, the transaction can be done with ease.
Are you looking to sell your home in Queensland or Victoria? If so, don’t hesitate to reach out. Ownit provides seamless and stress free conveyancing to buyers and sellers!
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