RELATED PARTY TRANSACTIONS
When it comes to property, if the purchase or sale is to someone related* to you, rather than carrying out the usual settlement process, Mosaic Settlements will need to step in and help you.
* According to the Office of State Revenue any taxable property transaction that is “Closer than arm’s length” between parties is considered as a ‘related party transaction’. This usually includes relatives, business associates and friends.
The overall process can be more involved than simply changing the name on the title. Factors such as Stamp Duty can come into play and this is where you’ll require the expertise of a settlement professional.
SALE OF PROPERTY TO RELATED PARTY
Once Mosaic Settlements is at your side, our experienced and expert team is ready to take care of your sale of property to related party* settlement. Whether you are including your spouse as a co-owner or transferring interests to your children, our conveyancing team has your best interests at heart.
HELPING YOU WITH RELATED PARTY TRANSACTIONS
We can help with:
- Carrying out title searches
- Talking with all parties to make sure everything is understood
- Seeking assessment of Duty from the Office of State Revenue
- Obtaining the relevant documentation ready for the transfer of land
- Making sure that all relevant authorities are informed of the change of ownership
- Carrying out the necessary tasks with brokers and banks
- Coordinating the whole process from start to finish
CONTACT OUR EXPERT TEAM
When dealing with a sale of property to related party* settlement, the expert team at Mosaic Settlements will provide the best guidance possible. Furthermore, we promise everything we discuss is confidential and your private matters are respected. With us, you will get focused and friendly support at every single step.
Get in touch with Mosaic Settlements today for assistance with your Related Party Transaction. We are here to help you get your settlement matters in order.
