Vendor & Purchaser Information
Transfers
The purchaser's Conveyancer is responsible for the preparation of the Memorandum of Transfer and for all costs associated with the transfer, including stamp duty and registration.
These fees are calculated based upon the consideration (purchase price) of the property.
Vendor & Purchaser Information
Change of Name
Change of name applications are generally prepared for a variety of reasons, and are usually prepared at the time of the next dealing with the land.
In situations where a couple may have purchased a property prior to marriage, an application to change name may be required, or it is possible that an individual may find their name has been incorrectly registered on the title.
These applications will incorporate a statutory declaration by the applicant and must be witnessed by a justice of the peace or a commissioner for taking affidavits in the Supreme Court of SA.
Vendor & Purchaser Information
Application to Note Death
Applications to note death are required when one of the joint tenants has passed away and their holding in the property is to be transferred under survivorship to the other Joint Tenant.
The Conveyancer will prepare the application and a certified copy of the death certificate will need to be attached to the application. A new title will then be issued showing the remaining party on the title.
Vendor & Purchaser Information
Transmission Application
Where a sole registered proprietor, or one of the tenants in common dies, the executor is required to lodge a Transmission Application. This passes the title to the Executor who is then permitted to deal with the land.
A copy of Probate and Certificate of Disclosure is required to be lodged with the application. The application is the responsibility of the Vendor (Executor) and is usually prepared by the vendor's Conveyancer on their behalf.
Vendor & Purchaser Information
Stamp Duty & Registration Fees
Stamp Duty and Registration Fees apply to incoming mortgage; transfer of land, and until recently the discharge of mortgage.
The Stamp Duty on Discharge of Mortgages was abolished on the 1st of July 2005.
Duty is calculated as a percentage of the purchase price on the transfer, concessions to this Duty is applicable to first home buyers where the purchase price is below $250,000.
The Registration Fee for a transfer is calculated as percentage of the purchase price.
Calculators are available on the Revenue SA site.