Do You Need a Conveyancer When Transferring Title?

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Last Will and Testament: The Benefits of Estate Planning

After I had an accident and had to spend some time in the hospital, I decided that it was time to make a will and do some estate planning. After all, you never know what is around the corner, and I would hate for a family member to miss out on inheriting from me if I were to suddenly pass away. I worked with a lawyer to draft a will. We then discussed the various ways I could arrange my estate. I had been worried that I wouldn’t understand the different legal terms, but my lawyer took the time to carefully explain them. I am now much happier knowing that everything is in place. I decided to set up this blog to offer tips to other people who are in the process of planning their estate.


Do You Need a Conveyancer When Transferring Title?

30 March 2022
 Categories: Law, Blog

If you've ever bought or sold a property, you may know how important it is to work with an experienced conveyancer. After all, there is a tremendous amount of paperwork to consider, relevant searches to complete and legal issues to take care of during settlement. Yet, you should also think about working with this professional if you want to transfer the title of an existing property to a person or organisation. What types of situations could this cover, and why is it important to work with the pros from the outset?

Reasons for Title Transfer 

There are many different reasons to consider transferring the title of a property to a different entity in modern-day life. For example, it may be beneficial to transfer everything to a trust from a tax point of view. Alternatively, someone could decide to give legal title to the property to their spouse if they feel that this would minimise a business risk elsewhere. Other individuals may want to "gift" the rights to the property to their children rather than letting the said property become an asset in a distributable estate.

Looking at Documentation

As in straightforward property acquisition, there are several legal documents to complete. It may also be necessary to pay duties to the government, depending on the nature and type of the transfer in question. There may be additional complications whenever a transfer takes place between two spouses. This process may require what is known as a "strategy declaration," which is essentially a legal oath that also declares the value of the property at the same time.

Assessing the Work

Certainly, you may not need to draw up a contract of sale or conduct extensive property searches as you would if you had been buying or selling a property in the first place. After all, all of these conditions would be known to you and easily communicated to the other parties. As there is less work involved here, disbursements might be lower than otherwise. However, certain types of transfers could yet involve additional paperwork, and you may need to consider the broader tax implications too.

Professional Advice

Start the ball rolling by talking with a professional with conveyancing experience today. Once they have asked you a few questions to clarify the matter, they'll be able to advise you of the work involved, a timeline and associated expenses. You will then be able to proceed with the details.