DO YOU HAVE TO PAY TO KEEP THE PROPERTY AFTER DIVORCE?

DO YOU HAVE TO PAY TO KEEP THE PROPERTY AFTER DIVORCE?

Dear Diane, my ex and I have agreed that I will keep the home. Do I have to pay anything to get the property in my name?

When property is transferred from one person to another, the receiving party generally needs to pay stamp duty. This also applies when your former partner transfers their share of a property to you following separation. However, if you and your ex formalise your agreement into Consent Orders or a binding agreement recognised by the duties office, you are eligible for a stamp duty exemption.

Consent Orders also protect you in relation to the assets you retain from the relationship. Even if you reach agreement, if you do not have Orders, then your property matters have not been finalised in the eyes of the Court.

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