Stamp duty is not payable when transferring real estate to an executor for the purposes of sale.
Stamp duty of only $50 is payable when transferring real estate to a beneficiary if gifted under the will or if it is ‘in or towards satisfaction’ of their share of the estate.
Stamp duty of only $50 is payable when transferring real estate under a family provision order (will challenge).
If real estate is transferred to a beneficiary and its value is more than the beneficiary’s share in the estate, stamp duty is payable on the value of the real estate that is above the beneficiary’s entitlement in that real estate.
We can attend to the many types of transactions regarding deceased estates and we are a stamp duty agent, allowing us to assess Stamp Duty and attend to payment in-house.
Call Manny Wood for Accredited Specialist advice.
This article is intended to be for information and educational purposes only and cannot be relied upon as legal advice. The information may not apply to your circumstances or to your particular situation. If you need specific advice or you have any questions, we welcome you to contact us directly.
