While the idea of giving your home away to your children or a loved one sounds like a warm and fuzzy thing, however you need to be aware that it’s a little more involved complicated.
In order to protect both parties to ensure that they are not caught unaware by any outstanding debts or securities against the property, it’s best to have a property transfer handled professionally by a solicitor.
Queensland law allows for you to give or transfer the ownership of your property to a family member as a gift.
This transaction requires the completion of all the necessary paperwork for the relevant state revenue office and title office. Depending on the circumstances, your solicitor may advise you of the advantages and disadvantages of transferring your property and this outcome may affect your estate.
So, before making a decision about transferring your property, it’s best to seek the advice of a solicitor. David Grant & Associates can not only advise you but we can organise all the relevant documentation and transactions for you!