It is important that the client does not receive any “surprises” in the property settlement.
For instance, while a properly worded Family Law Order or Financial Agreement may well assist a client to obtain a stamp duty exemption upon the transfer of a property subject to the property settlement, it will not prevent the State Government seeking reimbursement from the transferring party, of a portion of the home transfer duty concession which may have been received by the parties, if they have not fulfilled their obligations required for the receipt of such concession.
Thus a party transferring the family home within twelve (12) months of purchasing same, may well be required to reimburse a portion of the transfer duty concession received by the parties.
