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Want to change an existing property in Qld from Joint tenants

to Tenants in Common. Is...
Want to change an existing property in Qld from Joint tenants to Tenants in Common. Is there a fee/tax for changing this?
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Answered in 4 minutes by:
6/5/2010
Peter G.
Peter G., Solicitor
Category: Australia Law
Satisfied Customers: 767
Experience: Law degree from the University of Melbourne 1978, with thirty years of practice experience.
Verified
Are there two owners involved - eg, two joint tenants to two tenants in common?
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Customer reply replied 7 years ago
Yes, my partner & myself. Want to arrange 50/50 tenants in common.
Ok, if the new ownership is going to be the same, I think it very unlikely that there will be any stamp duty. You are just "changing the manner of ownership" (is the correct way to describe the process). I am a Victorian lawyer, but I'm sure the practice in Queensland will be identical. In these circumstances you will just have titles office fees to pay. In Victorian the equivalent fee is approx. $100. You can draw up the transfer yourself, if you can be bothered. I would ring the titles office and they will help you with where to find the transfer document, and the fees. You may have to submit to the stamp duties office for clearance, but again, the customer service at the titles office will tell you. If I was asked to do this here in Victoria on Monday, this is actually exactly what I would do - these applications are relatively rare and when a solicitor gets one, by far the easiest way to find out the precise practice is to telephone the titles office.

////// There is no stamp duty in Victoria or these transfers, unless the proportion of ownership changes; which it will not be in this case.

I think this probably answers your question but please come back to me if you have any further query.
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Customer reply replied 7 years ago
Relist: Answer quality.
I want a Qld law expert to answer this question!! This expert is from Victoria and can only comment on Victoria experience I need to know from a Qld expert. Not what probably will happen and what I maybe should expect but what does happen in these instances in Qld. This is unfair to the guy in Vic to expect him to answer satisfactorally.
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience: Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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I am a Queensland lawyer.

 

You will not pay any stamp duty. You will have to lodge a transfer with the Department of Natural Resources and Water. The cost of registering the transfer is $124.20

 

The following is a link to the land titles practice manual for Queensland, which sets out the procedure for severing a joint tenancy.

 

http://www.derm.qld.gov.au/property/titles/pdf/part01.pdf

Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience: Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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