Tasmanian Conveyancing Guide

 

 

Disclaimer - The information contained in this guide is of a general nature and intended only to provide a guide to assist you in understanding the process carried out for you by a conveyancing practitioner and should not be used as a substitute for professional advice from a conveyancing practitioner acting for you in your sale or purchase.

 


 

What is Conveyancing?

Conveyancing is the area of law concerned with the preparation of documents for the transferring of property. Both the buyer and the seller of a property will engage the services of a conveyancing professional, who will represent the buyer or seller and complete the legal requirements of the sale.

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What happens in a Conveyancing transaction?

While each sale or purchase is unique, all will involve these primary steps.

Buying a property
  • Checking the contract and advising you about its terms;
  • Obtaining and examining a search of the title;
  • Obtaining rate and planning certificates from the Council and any other authority that may have an interest in the property or levies rates or charges;
  • Preparing transfer documents;
  • Providing documents to your bank;
  • Adjusting charges between you and the vendor for things such as council and water rates;
  • Arranging and attending the settlement;
  • Arranging for assessment of stamp duty on the transfer;
  • Lodging the transfer documents with Land Titles Office.

 

Selling a property
  • Taking instructions from you to preparing the sale contract or checking the contract prepared by an agent;
  • Arranging with your bank to provide a discharge of its mortgage;
  • Examining and arranging execution of transfer documents;
  • Paying outgoings such as Council rates and other charges;
  • Arranging and attending the settlement.

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Stamp Duty – rates and exemptions

The transfer of property purchased in Tasmania will be subject to the payment of stamp duty. Concessions may apply in some circumstances.

You can calculate the stamp duty on the purchase price of a property here -

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First Home Owner Grant

You can read about the First Home Owners Grant here-

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