splitting ownership of a lot after/during development. Victoria

I was talking with a friend the other day and questions I didn't know came up about stamp duty in victoria and mixed ownership. At the moment we are quite lucky as our only ever JV was with my mum and it was held in a discretionary family trust, and in the end we didn't do the development as we had an offer that made selling it as a whole too appealing so we did that.

But what if it is a JV with a partner who we couldn't use the family trust for and needed to put ownership % on, can the end product be divided nicely.

Scenario 1, 50:50 ownership or a block going to 2 or 4 lots which happen to be 25% or 50% of the block. Can
a) Each part walk away with 2 units in their name free of the other with out paying stamps?
b) are you forced to put 50:50 onto any lots that are divided/pay stamps on 50% of each lot to clean up the ownership so each party ends up owning 2 units.

Scenario 2, still 50:50 ownership but the block is making 3 units, this time unit 1 30%, unit 2 30%, unit 3 40%, party 1 wants unit 3, party 2 wants both units 1 and 2.
a) Party 1 gets unit 3, part 2 gets unit 1, party 1 has to sell their stake to make up the 50:50 in unit 2 which triggers CGT for party 1 and stamps for party 2 based on the portion.
b) you are forced to be 50:50 onto each of the lots.

Ultimately the exit strategy seems to be the hardest part of a JV, it would be great with various people getting something they own outright, effectively taking care of the exit strategy during the process as then each party can do what they want, sell/rent/live in/etc...

 

See my post on deeds of partition in the legal section.

If set up well you could transfer title so one parties ends up owning each block without triggering cgt or stamp duty.

 

Cheers Terry, i will ask a question in there rather than split the knowledge of that thread/tip.