Removing name (s) from title deed

Discussion in 'Legal Issues' started by BarryH, 4th Jun, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. BarryH

    BarryH New Member

    Joined:
    4th Jun, 2017
    Posts:
    1
    Location:
    Umina beach
    Hello. My question concerns wether stamp duty will have to be paid when removing names from deeds. About 3+ years ago i paid half mortgage off and placed my daughter and her then fiance on mortgage. They lived in 2nd house on block and were paying the outstanding mortgage and securing a foot on property ladder. This never worked out and they went seperate ways and daughter moved to melbourne. They went to family court and i have court docs confirming he has no financial or any other interest in the property. So now paying off remainder of mortgage this month but before visiting a lawyer wondering if someone can confirm if i would have to pay stamp duty to have his and perhaps my daughters name removed from title i am assuming i can take his name off but if also my daughter i might have to pay SD off 25% or 50% of property value? Can i have a legal document drawn up to protect us against any future partner my daughter may become involved with if i left her on title ? Thanks for advice
     
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,850
    Location:
    Perth, WA
    Your story is a bit unclear.

    1. Who is on the title now? It sounds like its you, your daughter and her ex?
    2. You said they had family court orders - what did they say exactly?

    I'm confused why family court orders didn't deal with the issue of their joint property share.
     
  3. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,996
    Location:
    Australia wide
    I think you are confusing a mortgage with a loan. Who is on the title will determine who can give a mortgage.
     
  4. Paul@PAS

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

    Joined:
    18th Jun, 2015
    Posts:
    23,536
    Location:
    Sydney
    If there was a settlement agreed with the Family Court take the orders to a solicitor and they can handle the issues with removing the other party from title. It is generally not dutiable when there are orders relating to the Family Court. And no CGT either. Tax law treats it as if "he" never had an interest ...usually. The loan issues are confusing.
     

PFI can assist you with your investment strategies for your SMSF, Life Cover for your members and assistance with compliance. We provide the research to ensure your investment selections achieve the goals. This is the value of advice