This blog aims to provide you with all the information you need regarding property conveyancing in Melbourne. To carry out any bureaucratic procedure we need calm, breathe deeply and count to ten if necessary.
However, when it comes to transferring your property to a close relative we realise that the steps that must be taken, in the end, are not so complex. There are two ways to assign a home: you can do it from a donation in life of the property or leaving a writing that defines the last wills after the death. Both forms of inheritance of a house have different legal processes.
Here at Conveyancing in Melbourne you can choose services for property conveyancing in Melbourne that are second to none in terms of professionalism and expertise.
To avoid mistakes and delays in your procedure, the most advisable in both situations is that you ask for the advice of a lawyer or a real estate agent. They know every detail of the legal terms, so they can guide you according to your needs.
How to transfer a property
In the case of a transfer, the way to do it is through the donation contract. To be able to enjoy legal guidance on the whole process, the ideal is to rely on the advice of a professional. With our top services you can have a successful process for property conveyancing in Melbourne.
What is the donation contract really?
It is the process by which the owner of a property transmits one or more properties to a specific family member. There are 2 conditions that exempt the donor and grantee from encumbrances:
- When the donation is made between direct relatives. From father to son and between spouses.
- When the cost of what is transferred by the donor does not exceed three times the annual minimum wage of the owner of the house.
Unfortunately, we cannot control the circumstances of life. For that reason, the best advice we offer is to anticipate possible death so that one can begin to prepare the papers for a transfer of housing. Although it is true that there are cases in which the owner does not prepare a will, something that can complicate the procedures for the family of the owner, as it must request a legal process so that the percentage distribution of the house can be made. Nevertheless, with top property conveyancing in Melbourne you can easily succeed carrying out this process.
What is a will?
Actually, it is a measure designed for the future. In the case at hand, it would be a tool designed to protect the family of the owner of the house economically in case of death. In order to process the writing, it is advisable to ask the advice of an expert. The advantage of this procedure is that you can add the clauses you want in the document. For example, if the owner of the property dies before their children reach the age of majority, a person of trust can be appointed as administrator of the property until the children meet the stipulated age.
Both processes require the presence of a notary. Therefore, the next step you must take is to go to the notary in your area. With these tips you will know what you should do before the actuary.
Transferring a property while you are still alive
You should consider that you have to cover the notary’s fees, since the latter will grant legality to the transfer of title deed. Without the signature of a notary, the pact that is intended to be achieved will not be legitimate. Contact us today for top property conveyancing in Melbourne.
Before signing any document, meet with the people who will participate in the handover of the home to explain how the entire legal procedure will be carried out. You must make sure that the personal data of your beneficiary and the personal data are correct in the deed document. Any error will cause delays in the delivery of the house, in addition to generating extra expenses.
When everything is in order, it will only be necessary for you and the beneficiary to sign the property transfer deed. In some cases, you may need witnesses who must stamp their signature to attest to the legal process that has been held.
Finally, the new owner must present the deed of his new house before the Public Registry Office of the Property of the Federal District. The cost of this procedure depends on the number of pages of the document.
Inheritance of property by will
There are some months of the year during which it is more profitable to carry out the process. If the person requesting the will is older, he must also carry a health certificate that guarantees that he is in full use of his mental faculties and that he has lucidity. With our top property conveyancing in Melbourne you can ensure success in your transaction.
To process the will, the actuary will ask you to confirm that the property has no pending balances (property, supplies and mortgage). Most of the mortgage loans include in the contract a clause that when the contracting party dies the debt is paid. Just verify that it is written on paper. The document will include all the requests, conditions and clauses that you wish to add so that your relatives can inherit the house.
Once the manuscript is written, the notary will read its contents to verify that the data is correct. If you notice an error, do not hesitate to point it out. When corroborating that all is well, all those present must sign the document. Remember that you can make changes or remove and add points. There is even the possibility of completely cancelling the will. But you must remember that any modification will involve a new cost.
Building a heritage is not something that can be done overnight, so you should think carefully before transferring the home to your loved ones. However, it is always good to prevent ourselves from any situation. If you want to see more tips or property conveyancing in Melbourne, visit our website.