Transfer between spouses

[rebeccaw]

Hi

I act for a registered proprietor who wishes to add his wife to the property (it is their principal place of residence) as tenants in common 50:50. Pexa does not seem to be allowing me to create this transfer, "The selected land titles are not eligible for Part Tenancy Transfer". Is there something I am missing or should this proceed on paper?

Rebecca

[GeorgePolus · Accepted solution]

Hi Rebecca

You may need to go to paper, this time. 

Right now, PEXA has an issue in NSW when transferring fractional interests where a Party relinquishing is the same Party as the Party receiving.

The reason is that in NSW, OSR expect that PEXA completes the arithmetic difference between Party Receiving and Party relinquishing, but in other jurisdictions OSR prefer to complete this arithmetic calculation. 

PEXA will rectify the issue in NSW in R9.1 Feb, 2019.

Provided the Party receiving is different to the party relinquishing, PEXA can handle fractional interest transfers in NSW today.

Please let me @GeorgePolus know if you have more questions. 

Regards,

George 

[sharond1]

Hi George

Has this issue been fixed? 

[TraceyC]

Hi.

Just wondering if a transfer from husband and wife as joint tenants can be transferred to the wife in Pexa.

thanks

Tracey

[DandyCandy]

Hi @TraceyC 

You can definitely do this in PEXA. 

You open the workspace as "Proprietor on Title" and when you do the transfer document, you select "Sole Proprietor" under the transferees part, then you select the wife's name.

Miriam

[TraceyC]

Thank you

[sharond1]

Has this issue been fixed? I am trying to transfer from husband to husband and wife as joint tenants. Stamp duty error occurs.

[TraceyC]

Hi

Not as yet as the other side is yet to enter the wife's details in Pexa to move forward.

[GeorgePolus]

Hi Tracy

Updates to PEXA Part tenancy Transfer in NSW will be live in PEXA R(10) from May 11, 2019.

The new features will allow current Proprietors to be used as both transferor and transferee parties, while facilitating passing of net transferee share to the SRO. 

Please let me @GeorgePolus know if you have more questions. 

Regards,

George

[GeorgePolus]

Hi all,

Please see the R(10) Part tenancy Transfer Release Notes here

Please let me @GeorgePolus know if you have more questions.

Regards,

George