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Property and Stamp Duty

Hi,

I am just wondering about the statement below from the Property page on this web site.  

"Note that the transfer of the former principal place of residence between separated spouses (including de facto spouses where you have lived together continuously as husband and wife for at least five years) is exempt from stamp duty without the need for consent orders."

Is this correct?

Thanks
Hi WestOz,

Are you asking about whether the transfer between former spouses, or de facto partners is exempt from stamp duty, or whether the transfer does not need consent orders?

I know in New South Wales, at least, transferring a property to a former spouse or de facto partner is exempt from stamp duty.

As far as I can tell, the only way to get out of having to dispense with the need for consent orders would be to enter into a binding financial agreement. However, the legislation only provides for financial agreements between de facto couples if the parties to the relationship were ordinarily resident in New South Wales, Victoria, Queensland, South Australia, Tasmania, the Australian Capital Territory, the Northern Territory or Norfolk Island when the agreement was made.

You're still able to make a financial agreement after separating with your partner or spouse, to be binding you would both need to receive independent legal advice and then sign the agreement.

However I think it would be a lot easier to apply for consent orders if  both parties are in agreement!
 
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