Non-financial transfer from Executor to Beneficiary (same person)

[JuliaGribbon]

Hi there,

We are acting in a matter where a property is to be transferred from the Executor to herself, as part of a deceased estate. 

I have opened up a workspace as both Proprietor of Title and Incoming Proprietor so we can switch between the roles.  

When trying to prepare the transfer, it won't allow us to do so without inserting a market value, even for a non-financial transfer. There is no standalone option for a deceased estate transfer. 

As well as that, it states that a settlement date must be set. Is this correct? 

Thanks. 

[JonTeh]

Hi @JuliaGribbon 

Good question, there are a few elements to it.

Luckily you only need to be in the one role in the workspace 'Proprietor on Title'. This will allow you to represent the executor on title and also allocate that person as the transferee in the transfer doc. The transferee will hold the title in their name once registration completes. As there is only one role you will also only pay one PEXA fee here too.

Market Value is needed here, it is a Valuer-General requirement.

You will also need a settlement date here, this allows stamp duty to be calculated and paid (if required).

Hope that all helps. If you need assistance fixing up your workspace, please reach out to our excellent Support team 1300 084 515.

Cheers
Jonathan