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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22986
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I wish to transfer my house from our Family Trust to our

Customer Question

I wish to transfer my house from our Family Trust to our joint names. No mortgage .
If it is necessary to put a value on the transaction we would say $423k.
No document or title search required
Look forward to your advice as to the most cost efficient way to do this as do not feel like paying conveyancing for selling and purchasing
Submitted: 11 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 11 months ago.

If you want to transfer the property, there is one principal issue which you need to consider. Your family trust will have a deed which records the objectives and the beneficiaries. So if the family trust wants to effectively wind up the trust, this has to be in the best interests of the beneficiaries and consistent with the purposes of the trust. You are not the owner of the property, but likely to be a beneficiary as well as a trustee. If you are happy with this transaction as a trustee, and the other trustees are also content to support the transfer, then this can be done.

The family trust could resolve to gift the property if this is consistent with the objects of the trust, and therefore no money would need to change hands. If you want to do the transaction yourself, then you will need to establish an account with Landonline because all titles are now held electronically on the Landonline database. You would need to draft authorised nominating authorities for the trustees and the proposed new owners, and then enter the information online.

Expert:  Chris The Lawyer replied 11 months ago.

From the Landonline website-

Before you get started with the step-by-step below, here is some must-know information:

  • You must prepare the legal documentation required – the information we provide here is to help you lodge the document. You need to talk to a legal professional if you need assistance preparing the documents for registration.
  • Your paper documents must be presented to either our Hamilton or Christchurch office. You can do this in person, by courier or by post. Lodgement will happen at 9am the next business day, unless you opt for priority lodgement. You might also want to order a copy of the new title.
  • Your documentation will need to include proof of identity of the person who signed the documents. This is to prevent identity fraud, and there are strict requirements outlined in the Standard for verification of identity.
  • Any survey data related to your title lodgement must be lodged by a licensed surveyor. See Surveyingfor more detail.
  • There is a fee for manual lodgement – see survey and title fees (refer to the ‘Manual’ figure in the table).
  • When your documents are received, we will check to see if they meet the legal requirements under the Land Transfer Act 1952 and the Land Transfer Regulations 2002. If they do not, they may be queried (requisition) or sent back (rejection) – see below for more information. A re-submission fee may be payable.