on
25-10-2019
11:26 AM
- last edited on
30-07-2020
04:55 PM
by
IsaacK
Dear members,
There has been some uncertainty around processing NSW Family Law transactions using PEXA. While work was underway to clarify the impacts of such transactions on our ecosystem partners, Revenue NSW and NSW LRS, PEXA asked members to cease transacting these transactions in PEXA, and to utilise the current waivers in place for processing in paper. I’m pleased to advise work in this area has completed with the following transaction types now back in scope for processing in PEXA:
|
Transaction |
Description |
Example |
Outcome |
1 |
(A+B)->A |
Where A+B are joint tenants and one is coming off title. |
Divorce |
Can be transacted in PEXA. Please see the following Community page for more details. |
2 |
A->(A+B) |
Where A is bringing B on title as a joint tenant. |
Marriage |
Can be transacted in PEXA. Select A as the party staying on title. |
*NB the above applies to both non-monetary and dutiable scenarios
This clarification will be communicated throughout the ecosystem for alignment across members. Please contact us via this thread to discuss in further detail.
Happy transacting
Belinda
25-10-2019 12:35 PM
Glad to hear it's now been sorted out.
10-10-2021 04:06 PM
Hi, Belinda:
Thank you for your message. I have just read the message today.
I have the following question wish ask further:
1). is this "(A+B) -> A" also for mother and son?
2). if it is ok, what is the procedure to make the transfer from PEXA (is there any linked page)? or I have to go to the solicitor?
Your help will be much appreciated!
Sandy
11-10-2021 05:06 PM
Hello,
The relationship between A+B - can be anything (Husband/wife, Parent/child, friend, siblings etc.)
We have a Community page set up to guide you through a Part Tenancy Transfers:
https://community.pexa.com.au/t5/Help-Centre/Part-Tenancy-Transfer-NSW-Help-Centre/ba-p/9650
You will need to be registered for PEXA to be able to lodge the dealing through PEXA or go to Solicitor / Conveyancer who is.
Kind regards
Vesna
14-10-2021 12:10 PM
Hi, Vesna:
Thank you so much, indeed. I will go and check if individual can Register and do it by our own.
Kind regards
Sandy
15-10-2021 04:10 PM
en..... it seems not that easy! also stamp duty and capital gain tax is involved.