Change of Title

Your circumstances have changed. (maybe it’s time to change your property title)

When your circumstances change you may need to change your property title. To be clear, a property title is a legal document, and its purpose is to protect you. At the same time, if you’re not careful it can also be used against you.

At C & R Settlements Mandurah, we can take you through all your options to ensure that a change of property title is the right one for your circumstance.

Here are some the most commons reasons for changing property ownership:

Joint ownership:  This form of property ownership is popular with couples. In the event of death, the share of a joint tenant will pass onto the other tenant.

Trust ownership: This involves the property being owned and managed by a trust, which can be beneficial when passing the property down to your children

Divorce. When a relationship breaks down, some form of legal disentanglement may be required. This can include making changes to the details of property ownership.

Tax purposes. Taxation laws in Australia can change over time. This applies to real estate investments. Changing a property title may be warranted for tax benefits, future tax liabilities, asset protection, and estate planning.

Family: When a family member (often a parent) becomes too ill, or is unable to look after their own affairs, they may decide to pass the property onto a family member.  Or if the parent has passed away, this will require the family to make changes to the property ownership.

Buy out. This is when a property has been purchased with the assistance of a friend or family member or as a joint purchase, and there has been a change in financial circumstance that allows one owner to buy the other out. 

Gifting property: Sometimes a family member will want to transfer property to other family members, in which case a change of property title is required.

No one knows more about property settlement