Transfer from individuals to individual trustees (ie no change on title)
We are arranging a transfer from two individuals to a trust (where they are individual trustees) so there will be no change in title. Do I set up a PEXA workspace or can I lodge a paper transaction with SRO Victoria?
If you need to register the Transfer with the Land Registry, you can do this by creating a workspace as Proprietor on Title, representing the individuals, adding a secondary role as Incoming Proprietor and creating those individuals again, but including the Trust details on the Participants screen. Once you create the Transfer and Aquisition, you will be able to stamp the transaction as complex on Duties Online.
If you don't need to register the Transfer with the Land Registry, then you may be able to lodge a paper transaction through DOL complex stamping, just with the paper documents required. It will all depend on the requirements of the Land Registry and State Revenue Office as to whether they want a new transfer registered or just stamped, as the registered proprietors are not changing and Trust details don't get registered on title in Victoria.
If you need any assistance with this, please do not hesitate to contact our Support Team (1300 084 515) or your PEXA Partner directly.