Australia Law

Have Australian law questions? Ask a lawyer now.

Ask a Lawyer,
Get an Answer ASAP!

I am the executor of a deceased estate of which i am in

Customer Question
title to 45% my sister...
I am the executor of a deceased estate of which i am in title to 45% my sister 45% and my brother 10% the only asset the asset really has is a house worth approximately $1.6 million and $100 000 dollars cash. My question is that is if i pay my siblings out in cash for their share of the estate would i have to pay stamp duty on the sale of the house, it is my understanding that properties that are inherited don't attract stamp duty or would i have to pay 55% of the portion of the house that i purchased? thank you Lucy
Submitted: 2 years ago.Category: Australia Law
Show More
Show Less
Ask Your Own Australia Law Question
Answered in 3 hours by:
3/10/2016
Solicitor: Leon, Solicitor replied 2 years ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,891
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Good Morning

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advice but a guide to assist you.

There is no stamp duty payable on the house it is an exempt transfer because it is under a will.

You have to apply for probate of the will though.

Once you get probate then you are officially appointed as the executor and you can follow the will.

If you buy out the others of their share of the house then you will have to pay stamp duty for that because that is a sale.

Only if you transfer to the house to the beneficiaries is it exempt of stamp duty.

I hope this makes sense and is of assistance. If there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards

Leon

Ask Your Own Australia Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a solicitorLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Leon Your Own Question
Leon
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,891
46,891 Satisfied Customers
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)

Leon is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Deborah Awyzio

Deborah Awyzio

Solicitor

863 satisfied customers

Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience

Sean

Sean

Experienced lawyer

855 satisfied customers

Law degree with 1st class honours from Australian National University.

James G.

James G.

Lawyer

17 satisfied customers

Australian Legal Practitioner

Darren Kruse

Darren Kruse

Solicitor

16 satisfied customers

Practising in in Personal Injury, Workcover, Civil Disputes, Family, Wills and Estates and Criminal law.

Leon

Leon

Solicitor

46,891 satisfied customers

BEc Dip Ed, Dip Law (SAB) MTax (UNSW)

Daniel

Daniel

Solicitor

5,976 satisfied customers

Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court

John Melis

John Melis

Lawyer

3,352 satisfied customers

Principal Lawyer at Legal AU Pty Ltd

< Previous | Next >

Related Australia Law Questions
I have a Q for you My brother & I have just inherited our
Hi there, I have a Q for you My brother & I have just inherited our family home. My brother lives in the house & has done for a long time. Do we have to pay any stamp duty straight away to have the ho… read more
John Melis
John Melis
Lawyer
Diploma In Law
3,352 satisfied customers
I would like to no if I have a reasonable chance to re-open
I would like to no if I have a reasonable chance to re-open property settlement post divorce … read more
Patrick H.
Patrick H.
5,422 satisfied customers
I am a 1/10 benficiary in a NSW will with 5 other siblings
I am a 1/10 benficiary in a NSW will with 5 other siblings (each 1/10 share) and an elderly step mother (4/10). The Estate is my father's who died in 2013. The Executors are the Stepmother, (whose son… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
I would like to know -- my mother passed away and her will
I would like to know -- my mother passed away and her will stated that her house is given to her three children as tenants in common in equal shares. My question is -- my brother wants to pay out my s… read more
James D. Ford
James D. Ford
Lawyer
1,600 satisfied customers
My daughter (executor of will), and 2 sons where left an inheritance
My daughter (executor of will), and 2 sons where left an inheritance from there deceased father in 2006 I believe, and it was to be divided 40-40-20. Within the inheritance was a house, without unders… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
I am an executor, along with my two siblings, of my mothers
I am an executor, along with my two siblings, of my mothers estate. My mother lived in NSW. One of my siblings is extremely troublesome. He is rude to the accountants, solicitors, myself or anyone els… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
My wife is a co-executor for her mothers future estate. Her
My wife is a co-executor for her mother's future estate. Her mother is now 96 years old and has questionable judgment as to the management of her affairs, for example, she is loath to pay advisory fee… read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
My sister passed away approximately six months ago. She did
My sister passed away approximately six months ago. She did not leve a will and had no husband (deceased) or any children from her marriage. She leaves behind 5 sisters & 1 brother. Her estate is bein… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
My father recently passed away and I have just learnt that
My father recently passed away and I have just learnt that the 4 children of my father will only be receiving $25,000 each from our fathers estate. I believe his estate to be worth at least 3 million … read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
My stepfather passed away last year - the property that he
My stepfather passed away last year (in Victoria, Australia)- the property that he had with my mother was titled as tenants in common. After he passed away the step siblings were advised not to sign t… read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
Look if the other two executors...not joint in the will by
Look if the other two executors...not joint in the will by the way...employed a solicitor then do I have to wear their cost. They have now pulled out of Grant of Probate, realizing how much it is goin… read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
There are 4 siblings who are the only beneficiaries of an estate
There are 4 siblings who are the only beneficiaries of an estate probated in Western Australia. The will states the estate is to be divided equally among the beneficiaries i.e. each gets 1/4 of the es… read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
My Mum has recently passed away (Queensland Resident), and
My Mum has recently passed away (Queensland Resident), and she updated her will approximately six months ago. She has signed every page with her witnesses, however she has not signed the statement of … read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
Dear Sir /Madam Re Executors responsibilities over my wifes
Dear Sir /Madam Re Executors responsibilities over my wifes recently deceased mothers estate. I feel the executors have been grossly incompetent. - 6 siblings are beneficiaries, as far as i am aware 3… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
I am financial POA for my 26yr old son who lives overseas.His
I am financial POA for my 26yr old son who lives overseas.His father has died and he is the sole beneficiary to his father's estate but another person(female friend of my husband) is making a claim.Pr… read more
Alex
Alex
Lawyer & Solicitor
Master
11,225 satisfied customers
I am a beneficiary of a will along with 7 siblings. An adopted
I am a beneficiary of a will along with 7 siblings. An adopted son who lived with the deceased father for 30 years has been left out of the will with all monies left to me and 7 other neices and nephe… read more
Leon
Leon
Solicitor
Master's Degree
46,891 satisfied customers
Im am living in my mothers house,& have been here 4 six months,my
I'm am living in my mothers house,& have been here 4 six months,my father passed away last Xmas,my mother is in hospital she is an amputee & need,s full time care.I have spent months cleaning up the h… read more
Daniel
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
5,976 satisfied customers
I am an executor of my sisters estate. My three siblings and
I am an executor of my sister's estate. My three siblings and I are beneficiaries, plus my co-executor. Because I owned a property with my deceased sister (and others) which had been in part supported… read more
Katrina Bell
Katrina Bell
Barrister Sole
Bachelor\u0027s Degree
468 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x