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Death of the Certificate of Title

Certificate of Land Title no longer required

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NSW will officially kill off hard copy Certificates of Title

On 11 October 2021, New South Wales will officially kill off hard copy Certificates of Title. All lodgements for certificates will be completed electronically and the hard copy certificate will be cancelled and replaced with an electronic version.

What does this mean for landowners?

  • When you purchase property, regardless of the method, you will not receive a hard copy of the certificate.
  • If you have a mortgage and the bank is in possession of your Certificate of Title, you can notify the bank that you want the certificate. While it no longer holds legal value, it is still your personal property.
  • You won’t receive the certificate after paying off your mortgage
  • Pre-existing hard copy certificates are no longer legally valid
  • You will only be able to conduct land transactions through a conveyancing solicitor registered to the Electronic Lodgement Network (ELN) – Yes Jameson Law is registered!

Talk to your conveyancer

For more information about how the Certificate of Title changes will impact on you and your conveyance, for assistance in conducting a land transaction, contact our office for a free initial consultation.

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First Time Home Buyers Guide

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property transfer stamp duty

Transfer property without paying stamp duty

Stamp duty (also called transfer duty) is a substantial cost component of a property purchase, and if there’s any exemption or concession whatsoever you’d want to know about it! A transfer involves removing parties from the property title Here are the most common scenarios that you can transfer property without paying stamp duty: Transfers between married couples and de facto partners where the transfer is either the principal place of residence (the family home) or vacant land which is intended to be used as the site of the principal place of residence. Upon completion of the transfer of the residential property, both partners must hold the property equally (whether joint tenants or tenants in common). Note: If the family home is also used for other purposes, the exemption will only apply to the residential part of the home. Marriage, de facto or domestic relationship break-ups Section 68(1) of the Duties Act 1997 (NSW) specifies that where a break-up of marriage or de facto relationship occurs the title transfer can occur with transfer duty exemptions between either of the parties of the domestic relationship breaks, or a child or children of either of the parties. This must be effected by court order under the Family Law Act, or in accordance with a binding financial agreement made under sections 90B, 90C, 90D, 90UB, 90UC or 90UD of the Family Law Act 1975. Foreign transferees who are eligible for an exemption, still have to pay the surcharge purchase duty currently set to 8% of the property value they receive. Deceased estate transfers to a beneficiary in accordance with the terms of the will or under the rules of intestacy are entitled to a concessional rate of $50. If a will is contested, the duty chargeable will be determined based on any court orders made. Where a transfer does not confirm to a will, transfer duty will be payable. Example, if the beneficiaries agree to become owners on different properties, then they will need to pay transfer duty on the ownership proportions they now hold, that were not originally gifted in the will. Speak to a lawyer today Always engage a property lawyer to assist you with the transfer of property, and advise you transfer duty implications. Further, if you are separating, make sure your family law lawyer has effected the transfer in such a way that ensures the stamp duty exemption is applied.  Do I have to pay Stamp Duty? Where there is no stamp duty exemption or concession met under the Duties Act 1997 (NSW) and as noted above, you will be required to pay stamp duty and the vendor may need to pay capital gains tax. In NSW, stamp duty is based on the property’s contract price (or sales price) or the market value of the property, whichever is higher; and not the contract price. 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