Pexa fees in family law transfer matter

[makita09]

If Mrs A & Mr B own a property jointly and we act for Mrs A in relation to a family law matter and she is the transferee in the matter (obviously Mr B being the transferor) please confirm the following:-

Mrs A is on title so she is a Proprietor on Title which she will incur a pexa fee of $112.64 for that role.

Mrs A is also the Incoming Proprietor which she will incur a pexa fee of $112.64 for that role.

Then Mr B is also a Proprietor on Title but we don't act for him yet he also incurs a pexa fee of $112.64 for his/his Solicitors role in the workspace. 

Generally, the transferee assumes all costs for the transfer of the property so the total pexa fees are $337.92. Then there are the registration fees on top that that generally amounting to $424.80 for a Discharge, Transfer and Mortgage.

Is this the only way to do a family law property transfer on pexa? 

[ThomasHansen · Accepted solution]

Hi makita09, thanks for your note. 

As you've noted, the property is currently held jointly, so the scenario you describe is correct, if A and B are represented by separate Subscribers. In NSW there is an option for a part tenancy transfer, where the proprietors hold their shares in common. Refer to Part Tenancy Transfer.

Where the property is jointly held, if both A and B jointly instructed a Subscriber as proprietors on title (transferor), there would be one PEXA fee payable in the transferor role and one payable in the transferee role.

Hope this helps.

[makita09]

HI Thomas,

Another question...

Are we able to do Transfers without monetary consideration on Pexa?

[ThomasHansen]

Hi makita09,

Yes, it is possible to do non-monetary transfer in PEXA. You will still need to organise a financial settlement workspace and while you wont have consideration there will be PEXA fee, lodgement fee and stamp duty (if applicable).

In some States there may also be requirement for written agreement. Hope that helps.  

Regards,

Thomas