FAQs

What is conveyancing?

Conveyancing is the legal process of transferring ownership of real estate from one party to another. It involves preparing, verifying, and lodging legal documents to ensure the property transfer is valid, legally binding, and compliant with state laws.

When do you need conveyancing?

Conveyancing is required when:

  • Buying or selling property

  • Subdividing land

  • Updating a title (e.g. after marriage or inheritance)

  • Registering or removing an easement

What does a conveyancer do?

A licensed conveyancer or property lawyer manages all legal and administrative aspects of a property transaction, including:

✅Reviewing and preparing Contracts of Sale and Vendor Statements (Section 32)
✅Conducting property searches and checking for encumbrances or restrictions ✅Ensuring compliance with legal requirements
✅Managing financial settlement and liaising with banks
✅Lodging legal documents with Land Titles Offices

Conveyancing ensures the process is smooth, legally sound, and stress-free for buyers and sellers.

When should I have the Contract and Vendor Statement (Section 32) reviewed?

Before committing to a property purchase, it’s essential to have the Contract of Sale and Vendor Statement (Section 32) thoroughly reviewed—especially for auction purchases or situations where the cooling-off period does not apply. While conveyancing typically begins after a contract is signed, we strongly recommend reaching out to us for a complimentary pre-purchase review before making an offer.

Our Contract Review service provides a clear summary of key Special Conditions and highlights any critical details you need to be aware of before proceeding. Reviews are provided in writing, and we can often accommodate urgent requests—just let us know your timeline when submitting your documents. We typically complete reviews within 24 hours of receiving the contract.

For further discussion or to request a review, feel free to contact Zoe directly or submit an inquiry through our website.

What is Pexa?

PEXA is the electronic platform that has replaced traditional paper-based settlement processes in conveyancing. Today, nearly all property transactions must be completed through PEXA, streamlining settlements for lawyers, conveyancers, and financial institutions.

For detailed information about PEXA's ownership and policies, you can visit its official website https://www.pexa.com.au/company/.

According to PEXA, the platform is:

"Australia's online property exchange network, enabling the electronic lodgement of documents with Land Registries and the secure completion of financial settlements. Established in 2010 as part of the Council of Australian Governments' (COAG) initiative, PEXA was designed to create a unified national e-Conveyancing solution. Originally known as National e-Conveyancing Development Limited, PEXA continues to support the industry’s transition to a fully digital, efficient, and secure conveyancing process."

What is a related party transfer?

Transferring Property Ownership to a Related Party in Victoria.

Related party transfers can be a practical and cost-effective way to transfer property ownership. While it’s common for property to be transferred between family members, spouses, or business partners, it’s important to ensure the process is handled correctly to avoid legal or financial complications in the future.

Examples of related party transfers include:

✅ Transfers between spouses – e.g., adding or removing a spouse from the title. ✅ Refinancing with a change of ownership – required by some lenders for loan approval.
✅ Property settlements due to divorce or de facto separation.
 ✅ Gifting property to a family member or transferring it below market value.
✅ Deceased estates – transferring property to a beneficiary.
✅ Transfers between a trust, company, or individual for tax or asset protection purposes.

Is a Contract of Sale Required?

In some cases, a Contract of Sale may not be necessary, and a Transfer of Land document alone is sufficient.

For example:

  • If a transfer is required under a court order (e.g., a Family Court property settlement), only a Transfer of Land document is needed.

  • If no payment is exchanged (e.g., a gift), a Contract of Sale may not be required.

Skipping a Contract of Sale can save time and costs, but legal advice is essential to ensure the correct process is followed.

Should I use a Conveyancer or a Solicitor?

When buying or selling property, you may wonder whether to engage a Conveyancer or a Solicitor. While both can handle property transactions, their areas of expertise differ.

Solicitors often practice across multiple areas of law, including:
✔ Business Law ✔ Criminal Law ✔ Family Law ✔ Litigation ✔ Wills & Estates ✔ Probate ✔ Intellectual property law.

Conveyancers, on the other hand, specialise solely in property transactions. Conveyancing is our core focus—we manage property transfers every day, ensuring transactions are handled efficiently, correctly, and cost-effectively.

Why Choose a Conveyancer?

✅ Specialised Expertise – Property transactions are our primary focus, meaning we are highly experienced in navigating contracts, legal requirements, and settlement processes.
✅ Victoria-Wide Service – We assist buyers and sellers across Victoria, ensuring a smooth and stress-free experience.
✅ Industry Connections – We work closely with professionals across the real estate industry, including pre-purchase inspectors, finance brokers, and developers.

At Ace Conveyancing & Legal, we are dedicated to providing clear, efficient, and affordableconveyancing services. If you need guidance on your property transaction, contact us today for expert assistance.

Key Considerations for a Related Party Transfer

Stamp Duty

  • Stamp duty is payable on related party transfers, even if the property is gifted.

  • The amount is based on the market value of the transferred share, requiring a valuation.

  • Some transfers qualify for exemptions or concessions, such as transfers between spouses or deceased estates.

For more details, visit the State Revenue Office Victoria (SRO) website or contact us today to discuss.

Existing Mortgage

  • If a mortgage exists on the title, the lender must approve the transfer.

  • A discharge of mortgage or refinance may be required before settlement.

Tax Implications

  • Capital Gains Tax (CGT) may apply, depending on the ownership structure and circumstances.

  • GST considerations may arise for investment or business-related transfers.

  • It’s recommended to seek advice from an accountant or tax professional before proceeding.

Other Costs

  • Stamp duty, legal fees, bank charges, title registration, and lodgements fees should be factored into the transaction.

Need Assistance with a Related Party Transfer?

Navigating related party transfers in Victoria can be complex, and professional guidance ensures compliance with legal and tax requirements. At Ace Conveyancing & Legal, we can assist with the entire process, from preparing transfer documents to liaising with the State Revenue Office for exemptions.

For tailored advice on your situation, contact us today or submit an inquiry through our website.