What are material facts?
March 7, 2025
Your Wish is Granted – Help for First Home Owners
March 10, 2025
If you are a part owner of land that has been subdivided into two lots, you are able to “partition” the land so that after the partition each party owns one of the lots as a sole proprietor. If the lots have the same valuation and each owner has a half share, then this transaction would be free of stamp duty in accordance with section 27 of the Duties Act, as the beneficial interest of each owner would not change (i.e. the change for each party is from half-share ownership of two lots, to the sole ownership of one lot).
For more information you may contact our Northcote professional and experienced conveyancers or call us at (03) 9815 2351.
Andrew Rothfield
Andrew Rothfield is a licensed conveyancer from Glenferrie Conveyancing. The company holds the prescribed professional indemnity insurance, maintains a general trust account, and is a leading subscriber to the PEXA electronic settlement system.
