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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44889
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Can a company be a party to a tenants in common agreement or

Customer Question

Can a company be a party to a tenants in common agreement or must tenants in common be individuals?
JA: Because laws vary from place to place, can you tell me what state the property is in?
Customer: Victoria
JA: Has anything been filed or reported?
Customer: Not as yet
JA: Anything else you want the lawyer to know before I connect you?
Customer: I own a property and I want to transfer one third to my family company.
Submitted: 5 months ago.
Category: Australia Law
Expert:  Leon replied 5 months ago.

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

Expert:  Leon replied 5 months ago.

Good Morning.

Yes they can.

The company would open a share of the property and the others would own there shares.

You can transfer it but your company will have to pay stamp duty on the market value of the 1/3 that it receives.

I hope this makes sense and is of assistance. If you wish a phone call please elect for one but be aware it will be an additional fee. 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.

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Regards
Leon