Transfer of Property in Family Law - Is Stamp Duty Payable in NSW?

Transfer of Property in Family Law - Is Stamp Duty Payable in NSW?

According to Section 163B of the Duties Act 1997 (NSW), there are circumstances where stamp duty does not apply. Specifically, when a marriage or de facto relationship is dissolved, the associated stamp duty is waived.

This exemption applies during the division of property under family law, where one party is transferring their interest in real property to the other party, either a former spouse or de facto partner. Therefore, the recipient of the property in such cases is not required to pay stamp duty on the transfer.

Including transfer of property in a Binding Financial Agreement

A contractual agreement between two parties that specifies how they have decided to distribute matrimonial property when a marriage or de facto relationship ends is called a Binding Financial Agreement (BFA), sometimes referred to as a prenup.

Parties may request financial orders from the Federal Circuit and Family Court of Australia (FCFCOA) in cases where they are unable to reach an agreement on the division of assets. The stamp duty exemption on a property settlement is applicable if the FCFCOA orders a transfer of property.

How do I get the exemption on stamp duty?

Obtain a Sealed Court Order or Executed BFA
The first step is securing a copy of the sealed court order or executed BFA. This document must explicitly state that one party is required to transfer property to their former spouse or partner.
Engage a Legal Professional
To complete a property transfer in NSW, it's essential to engage a conveyancer or solicitor. These legal professionals will guide you through the application process for the necessary stamp duty exemption.

Greigs Legal recognises the distinct complexities each case holds and dedicates personalised care to every matter. Our team at Greigs Legal possess extensive experience in handling transfer of title matters within the realm of family law. To discuss your needs with a family law solicitor please contact us at (02) 4647 2968 or submit an online enquiry form to schedule a consultation.

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