This week on the Divorce Collective, our family law expert Caralee Fontenele dives deep into the intricacies of stamp duty exemptions in situations of separations. If you’re based on the Gold Coast and are searching for family lawyer insights on property settlements, this episode is a must-listen.
When dealing with real estate that forms part of the marital assets, especially when the property title is in both names, the decision-making can be tricky. Broadly, you’re looking at two routes:
- Sell the Property: This is a straightforward division, with the proceedings from the sale being split as per the settlement.
- Property Retention by One Party: Here’s where it gets a bit complex. If one individual decides to keep the property, they must consult with a mortgage broker or their banking institution. A common myth is the idea of simply swapping names on the property deed or mortgage. But, as Caralee explains, that’s not how it works. You’d need to secure new financing and settle the existing loan.
Wondering about the much-talked-about stamp duty exemption? To uncover the details on how to potentially save thousands in stamp duty, tune into our podcast. The specifics and eligibility criteria for this exemption can be a game-changer for many going through a separation.
For those in the Gold Coast region seeking top-notch family lawyer advice, the Divorce Collective offers a 45-minute free Initial Consultation. Whether you’re near or far, we accommodate by making our consultations available via Zoom, spanning across Australia.
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‘Information contained in these podcasts/blogs are current as at the date of recording. Information is intended to be general information only and does not constitute legal advice. There may be updates/changes that have occurred since originally recordings. Seeking independent legal advice is recommended.’