Transfering of titles

Hi there,

I have a scenario where the wife and husband are both on the titles for their house. For whatever reason the husband needs to get rid of some of his assets. Question I have is, is it possible to transfer the title completely over to the wife from the husband without incurring stamp duty?

PS we're in victoria if that helps.

Thanks!

Yes, in Victoria (I think its the only state this is allowed) it's commonly known as the love and affection rule. You don't pay stamp duty when transferring between spouses, only an admin charge. Section 43 of the Victorian Duties Act applies. Just have them see a solicitor to have it organised.

Be aware though that if an investment, CGT may still apply.

Cheers

Tom

Thanks for your help Tom! I have mentioned this to my friend and also finally found some info online as well! Easier to find when you know what to type in, hehe...

No problems. Glad to be of service. Hopefully it works out for your friend.

Cheers

Tom