What is Severance of a Joint Tenancy?

A joint tenancy may be severed by the unilateral action of a one of the joint proprietors of a parcel of land without the consent or the co-operation of the other joint proprietor(s).

Such a joint proprietor may only transfer a part interest proportional to what they hold.  For example, one of two joint proprietors may only transfer a half share and one of three joint proprietors may only transfer a third share.

The transfer does not need to be assessed for payment of duty by the State Revenue Office.

On registration of the transfer, two new (part interest) titles are created:

• one for the interest being transferred and
• one for the remaining interest(s).

The first part interest will be owned solely by the joint proprietor initiating the severance, and the second part interest will continue to be owned by the other joint proprietor(s).

Glenferrie Conveyancing is your trusted and professional conveyancer in Melbourne. To know more about aggregation and how to avoid it, or learn more about our conveyancing services, please contact us on (03) 9815 2351.