NSW part tenancy transfer - share transferred

[Jgal3]

I can't comment on the article, but in relation to Part Tenancy Transfer (NSW) ( https://community.pexa.com.au/t5/Help-Centre/Part-Tenancy-Transfer-NSW/ba-p/9650 ) I am a little confused. 

Where it says the share transferred is 1/2, should that not be whole? 

For example, in a paper transfer, if a tenant in common is transferring the whole of their share (being whatever share of the property they own - 50/50, 30/70 etc) then the transfer needs to reflect that one owner is transferring their whole share. I.E owner A transfers their whole share to owner X, and the title reflects the registered proprietors as owner B and owner X as tenants in common. 

With the half share being transferred, it becomes much more confusing if you are just replacing one owner. For example, if both owners are on the transfer, transferring half a share to a new person, then it would end up being owner A and B for 50/100th as tenants in common as to 70/30, as tenants in common with owner X for 50/100th. However, if you have both owners as transferor, then you could have one owner be transferee so that the title goes from owners A and B to owners B and X but then you are not really doing a part tenancy application anymore. 

So, my reasoning is, if one owner (who is tenant in common) wants to sell their share, the transfer would be from owner A as to the whole of their share of the land to owner X to result in the title then being registered to owner B and owner X as tenants in common. 

Is there a reason the transfer on PEXA is listed as a half share? 

[TSullivan]

Hi Julia. 

Thanks for your post. 

'Share being Transferred' just displays the share of the title owned by the Transferor.

Currently a Transferor must transfer their entire share in PEXA. But, PEXA will soon be updated in May, to allow a Tenant in common to transfer less than their entire share on title to either a new party or to an existing Proprietor on Title. 

The reason for displaying the 'Share being Transferred' is that is what the Land Registry will render on the Transfer form itself. E.g. as to the undivided 1/2 share of 'A'. 

If you would like to direct message me, I am happy to discuss or even demonstrate some scenarios. As you know, Transfer sceanrios can get very complex! 

Regards, 

Travis Sullivan - PEXA