Hi there. Whether you purchase a property or otherwise acquire title to a property, you will have to pay stamp duty unless an exemption applies.

In Victoria, there is an exemption for pensioners, for home buyers who use the property as their principal place of residence if the property is $550,000 or less, for first-home owners with a family if the property is $200,000 or less, and for young farmers buying their first farmland property. If you fall into one of these categories, you may be exempt from paying stamp duty.

Suggested way forward

To obtain an estimate of the stamp duty owed, you could use the Victorian Government Land Transfer (stamp) duty calculator (http://www.sro.vic.gov.au/calculators/land-transfer-calculator). You may want to consider speaking to a property lawyer about your legal options and the best course of action. By pressing the “Consult a Lawyer” button, LawAdvisor can help you search for experienced lawyers and obtain fee proposals for their services. Costs for legal advice and representation will vary between providers based on experience and the scope of services.