Deceased estate and title change

Discussion in 'Wills & Estate Planning' started by wayne, 11th May, 2017.

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  1. wayne

    wayne Well-Known Member

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    What name will the property title of a deceased estate be transferred into.
     
    wayne, 11th May, 2017
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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Hopefully mine. :p
     
    Scott No Mates, 11th May, 2017
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  3. hobo

    hobo Well-Known Member

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    I've seen it change to the names of the executors of the estate in at least one instance.
     
    hobo, 11th May, 2017
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  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Could be to a third party if the executor sells the property !!
    But generally to the beneficiary/ies....To get the duty concession.
     
    Paul@PAS, 11th May, 2017
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    It would have to be changed to the legal personal representative of the dead person. This would be the executor if there is a valid will or an Administrator if not.
     
    Terry_w, 11th May, 2017
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  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    And from there into the beneficiary's name(s) or it will be sold etc.
     
    Terry_w, 11th May, 2017
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  7. wayne

    wayne Well-Known Member

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    If one of the beneficiaries chooses to pay the other beneficiaries out to retain the property, would this trigger stamp duty.
     
    wayne, 11th May, 2017
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  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes in most cases, but there may be a way to avoid it.
     
    Terry_w, 11th May, 2017
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