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?