Why would I add someone to the title?

1. You might be buying a home with your partner (spouse, de facto, or same-sex) and want to own it together.

2. You might want to add a family member, like a child, as a co-owner.

3. Your circumstances might have changed, and you need to remove someone from the title.

Things to consider before you get started:

Talk to a mortgage broker:

Adding someone to the title usually involves your mortgage, so a broker can help you understand how it affects your loan. They can also recommend a conveyancer to handle the legal side of things.

Stamp duty:

You might not have to pay stamp duty if you're adding your spouse or de facto partner to the title, as long as it's your main residence. Check with your state revenue office to see if you qualify for an exemption.

Ownership options:

Joint tenants:

This is a common option for couples. You each own an equal share of the property, and if one of you passes away, the surviving owner automatically inherits the deceased's share.

Tenants in common:

This allows you to own unequal shares of the property. Each owner's share is passed on according to their will.

Sole proprietor:

This means only one person is on the title and owns the property outright.

Adding a name to your Victorian property title:

Restructure your home loan:

Your broker can help you with this step to make sure it aligns with adding someone to the title.

Land registration fees:

There are fees associated with registering the transfer of ownership. The amount depends on the type of transaction.

Transfer of land application:

You'll need to complete a Transfer of land application form.

Ready to get started?

Adding a name to your property title can seem complicated, but we recommend Inovayt Finance to help guide you through the process. They'll connect you with a conveyancer and help you restructure your home loan if needed.

Contact an Inovayt mortgage broker about adding a name to your property title.