Example: Adding a long term partner to your property
John and Ling have been dating for 3 years and are ready to move in together. Ling already has a property in Dee Why, Sydney worth $750,000 while John lives with his parents. The agreement is that John will move into Ling’s property and start making 50% towards the monthly repayments.
Ling has paid $50,000 worth of repayments and provided a $100,000 deposit. She now owns $150,000 worth of the property, which means she owns 20% of the property.
Ling and John first approach the lender to see if they can get approval to get a joint loan. After reviewing their finances, the lender consents to adding John’s name to the title and mortgage. The lender also works with a third party legal service to obtain all the legal documents and a draw up a "tenants in common" agreement. This allows them to specify how much each person will own.
They decide that Ling will own 60% of the property (including the portion she already owns) and John will own 40%. After Ling and John fill in the appropriate paperwork and pay the transfer fee of $350, the house is now under both of their names.
Hi, I am paying the mortgage on the home long and this is in both my husband and my name. My husband initially purchased on his own but we since refinanced years ago and I have been on the mortgage ever since. The title of the home however is in his name only. How can we change this to add my name and is there a significant cost involved ? Thanks
Hi Jane,
Having your name added to a property title may involve fees as well as stamp duty. The form to be lodged and the associated fees depend on which state or territory you live in. The amount you’ll pay depends on the value of the transaction being ‘stamped’. The stamp duty to be paid is based on the rate that applies in your state or territory, less any discounts or exemptions.
While there may be exemptions on stamp duty in certain situations for married, de facto, and same-sex couples, and also for first-home buyers and owner-occupiers, you need to meet a number of conditions to be eligible for these discounts. Please note that these could vary from state to state so make sure you request a form from your state office of revenue or your state government website.
Consider getting professional legal advice before adding a name to a property title.
Hope this helps!
Cheers,
Richard
Is there a cost involved in a wife’s name to a property title
Hi Beverley,
Yes, adding a name to a property title may involve fees and stamp duty could be payable. The form and associated fees differ by state.
For married, de facto and same-sex couples, stamp duty may not be payable when adding your partner to your property title. You need to meet a number of conditions to qualify for this exemption, and these can change from state to state so make sure you request a form from your state office of revenue or your state government website. You can also check out our guide to see the stamp duty exemptions per state or territory: https://www.finder.com.au/home-loans/stamp-duty-calculator
Remember, it is always worth seeking professional legal advice before adding a name to a property title to get specific advice regarding your situation.
Hope this helps!
Sarah
Dear Sir or Madam. I live with my partner of 15 years in an apartment held in my name only with clear title. How do I include her in the title and is there any stamp duty to pay ? Thank you.
Hi Colin.
You can add your partner’s name to your property title by following two simple steps:
Step 1: Contact your lender
You must inform your lender in the first instance. Your lender will assess the financial situation of both parties before they give you consent to add your partner’s name. If granted, your lender will tell you what documents you need to submit to complete the process.
Step 2: Add your partner to your property title
This can be done by filling out the necessary government forms and submitting them to your state government. Click on the specific state links in the article above to get access to the forms you need. In general, you’ll need to fill in the following:
1. Transfer form. This can be obtained from your state government’s website (details above). The form and associated fees differ by state.
2. Certificate of title. You will need the original property title or certificate from the lender.
3. Mortgage documents. If you have a mortgage, check with your lender so they can provide any relevant documents that may be required to add your partner’s name to your property title.
For married, de facto, and same-sex couples, stamp duty may not be applicable when adding your partner to your property title. There are a number of conditions you need to meet to qualify for this exemption, and these can change from state to state, so make sure you request a form from your state office of revenue or your state government website.
Remember, it is always worth seeking professional legal advice before changing a property title to get specific advice regarding your situation.
Hope this helps!
Cheers,
Sarah
We are refinancing our Home loan which we opened before we were married, now the bank is saying “Could you please arrange an Application for Change of Name from a solicitor, conveyancer or the relevant State Title Authority and return to us ” . Can’t I just supply a married certificate as proof ?
Cheers
Hi Greg,
Thanks for your comment and I hope you are doing well. As the bank requires the document called Application for Change of Name, this means you’d need to furnish this document for Refinance Home Loan. Given that you don’t have that document at hand, you must ask the financier if they will allow a marriage certificate.
Hope this clarifies and feel free to reach back out for further assistance.
Best,
Nikki
Hope
My wife purchased an investment property 20 years ago, we have now completed a knockdown/rebuild on this property. We are now using it as our principal place of residence. Previous marital home in joint names will be sold. Will we be liable for stamp duty, fees etc if the property is transferred into joint names?
Hi Ian,
Thank you for getting in touch with finder.
In some cases, stamp duty is not payable when a partner is added to a property title. The property you live in is usually exempted on stamp duty. Stamp duty exemptions vary in every state. It is best to verify this matter from your state’s revenue office.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni