Partial Interest & Family Law Transfers (QLD) | Help Centre

[Saysa]

Overview

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Published: 16 September 2021

Jurisdiction: QLD

Additional Resources: Help Card

Partial Interest & Family Law Transfers are used where there is a change in tenancy where at least one Proprietor on Title is remaining on title.

The transacting Proprietor on Title (transferor):

• Is in a Tenant in Common, Joint Tenancy or Sole Proprietor ownership, and
• Is transferring their ownership (part or whole) to:
  • An Incoming Proprietor currently not on title, or
  • A Proprietor on Title who is already on title.

Partial Interest & Family Law Transfers can be combined with common documents such as the Release of Mortgage, National Mortgage, as well as in combination with multiple transfers and/or other Part Tenancy & Family Law Transfers.

Note:

• Transfers where a Proprietor on title will be listed on titles multiple times is currently out of scope
• Where a Proprietor on Title who will remain on title requires a name justification, a change of name must be completed and registered outside of PEXA prior to lodging the Partial Interest or Family Law Transfer.

Steps

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Follow these steps to create a standalone Partial Interest or Family Law Transfer in QLD.

1. Create a Workspace in the role of Proprietor on Title or Incoming Proprietor with the following settings:
   • Transaction Type: Part Tenancy Transfer
   • Financial settlement required? = Yes
   • Will this transaction involve a Transfer? = Yes
2. Review the Land Title.
   • Select Add Address and enter the address for the land title.
3. Represent the Proprietors on Title who are transferring their share of the title.
   This is the party who is either receiving additional share of the title of relinquishing all or part of their share of the title.
   
   1. From the Actions column, select Edit Party next to the party you represent.
   2. Select I represent this party and complete the remaining details for the party.
   3. Click Save.
      Repeat Step 3 for any other parties that you represent.
   
   
4. Add or represent parties receiving a share of the title (transferees):
   • If a Proprietor on Title is a transferee in this transaction, then represent them:
     1. From the Actions column, select Edit Party next to the party you represent.
     2. Select I represent this party.
     3. Complete the remaining details for the party and then click Save.
     4. Continue to edit other parties that you represent.
   • If there is an incoming participant, then do one of the following:
     • If you don't represent the Incoming Proprietor:
       1. Click Invite Participant and invite the representative into the Workspace.
       2. Wait for them to create and represent the Incoming Proprietor.
     • If you represent the Incoming Proprietor, then navigate to Workspace Settings and add the role of Incoming Proprietor:
       1. Select Role Settings > Edit.
       2. Select Incoming Proprietor and then click Add Role.
       3. Click Save.
       4. Navigate to the Participants screen and select Create Party to represent the Incoming Proprietor.
5. Create a Transfer document:
   1. Navigate to Documents > Create Document > Transfer.
   2. Complete the following fields on the Transfer screen:
      • Part Tenancy Details
        Select Yes to Is a Proprietor on Title staying on the Title?
        
        
      • Transferors
        1. Select the Proprietor on Title who is transferring their share.
        2. If there is only one Proprietor on Title, then the party's name is auto populated. Otherwise, select the proprietor from the list then click Add Transferor.
        3. For each Party, enter the share details. You may enter a part or a whole portion of the share in the Share being transferred column.
           
           
      • Transferees
        1. Check the Tenancy Type.
        2. Under Party, select the transferee who are receiving a share.
           Tip: Existing Proprietors on Title have the words 'Proprietor on Title' appended to their names.
        3. If you want to add the party as a joint tenant, select Add Joint Tenant from the action cog, otherwise leave as default.
        4. If required, click Add Transferee to add more transferees.
           Note: Only parties who are represented are selectable in the Party drop-down list.
        5. Ensure the share distribution for all parties are correct.
           
           
      • Transferee Details
        Please ensure that a Future Correspondence Address is added for the Transferee. This is required to progress the Transfer to a 'Prepared' status.
        
        
      • Consideration Type
        Select a Consideration type and fill in the relevant fields.
        
        
      • Transaction Information
        Complete the Transaction Information.
        
        
   3. Save the document.
      
      
6. Edit Form 24A and Form 24B.
   If there is no Incoming Proprietor in the Workspace, then the Proprietor on Title completes both Forms 24A & 24B. Otherwise, the Incoming Proprietor completes Form 24A and the Proprietor on Title completes Form 24B.
   
   
7. Enter Transfer Duty information.
   If there is no Incoming Proprietor in the Workspace, then the Proprietor on Title completes this step.
   
   1. Navigate to the Transfer Duty screen.
   2. Enter the duty information.
   3. Click Save.
      Refresh the Transfer Duty screen to view the OSR Transaction Number provided by QLD OSR, to locate and complete the transaction in OSR Online.
   
   
   
8. View the documents:
   
   1. Click View for each document.
      Notes:
      • Select View if no changes are required.
      • Select Edit to update any of the details in the document.
        
        
9. Sign the documents:
   
   1. From the Actions column, select Sign associated with the Transfer document.
      Notes:
      • Ensure to sign the Transfer, Notice of Sale, and Lodgement Instructions.
      • If you are representing the Proprietor on Title and Incoming Proprietor, you will need to sign the Transfer in both roles.
        
        
10. Complete the Financial Settlement:
    
    1. Navigate to the Settlement screen.
    2. Add Destination and Source line items, as applicable.
    3. Select Sign > Financial Settlement Schedule.
    
    For Source Funds:
    1. From the Actions column, select Verify Funds.
    2. From the Actions column, select Authorise to authorise the Trust Account payment.
       Note: If you are representing both the Proprietor on Title and Incoming Proprietor, you will need to sign the Financial Settlement Schedule in both roles.

Related Topics

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• Transfer Help Center Articles
• Part Tenancy Transfer (VIC)
• Part Tenancy Transfer (SA)