What happens to your home when relationships breakdown?
What happens to the family home when you are going through a relationship breakdown?
How do you end the property partnership?
Divorce, or separation is a stressful time, and it is in your best interest to get a court order to protect your assets. Often you will engage a lawyer.
In the case of property transfer a settlement agent may be able to look after the process of title change.
One partner may decide to buy out the other, alternatively the shared property sells.
The following may be part of property transfer process;
Ownership of Property – Confirmed by a Title Search
All parties involved are in agreement
If court orders are applicable – Original stamped embossed order required.
If there is a mortgage over the property – Confirmed via Title Search. For a bank mortgage, lodge a discharge form with the bank, completed by all parties. When there is no mortgage the Certificate of Title will be with your Settlement Agent.
Payment. Financial approval from the bank to transfer the amount. Required to confirm funds are available.
Transfer of land document; Related parties authority; Stamp duty valuation form; Cost disbursement. Signed by the client.
Identification – All owners need identification.
Stamp duty. An assessment for all related parties based on the value and ownership status. Following this process, documents need signing. Stamp duty assessed and banks are ready to proceed. The settlement date can proceed.
Relationship breakdown can be a stressful, traumatic time, for the entire family. Transfer of property ownership is one thing to deal with.
At Supreme Settlements we care about our clients
It is our aim is to make the settlement as straightforward and stress-free as possible.
We assign a conveyancer to you to take you through the complete settlement process.
If you are at this crossroad in your relationship, give us a call and organize to come in for a chat.
Speak to a family lawyer and seek advice through the various government departments.