Change of Tenancy on a NSW Property Title
Change of Tenancy on Property Title in NSW
At Excel Legal, we help property owners across New South Wales change the way they hold their property.
Whether you are reviewing your estate planning, responding to a change in your personal circumstances or reconsidering your co-ownership arrangements, we explain your options and guide you through the title registration process.
Joint tenants or tenants in common: what is the difference?
Joint tenants
Joint tenants own the property together.
The key feature is the right of survivorship: when one joint tenant dies, their interest generally passes automatically to the surviving joint tenant or tenants, rather than being distributed under their will.
Tenants in common
Tenants in common each hold a defined share of the property, which may be equal or unequal.
There is no automatic right of survivorship between tenants in common.
Your share forms part of your estate when you die and can be left to your chosen beneficiaries under your will, subject to applicable estate laws.
Neither arrangement is right for everyone. We help you understand the differences so you can make an informed decision.
Changing the tenancy on your title
Joint tenants to tenants in common
Changing from joint tenants to tenants in common is known as severing a joint tenancy. This may be appropriate when you wish to leave your interest in the property through your estate rather than have it pass automatically to the surviving co-owner.
Where all owners agree, a transfer altering tenancy can change joint ownership to tenants in common in equal shares. A separate process is available where fewer than all joint tenants wish to sever the joint tenancy. We assess the appropriate approach for your circumstances.
Tenants in common to joint tenants
You may wish to change to joint tenants so that the right of survivorship applies. Where the existing owners hold as tenants in common in equal shares, a transfer altering tenancy is available to make this change.
Where ownership shares are unequal, we assess the additional transfer requirements and implications before recommending how to proceed.
How Excel Legal can help
We provide practical assistance from the initial title review through to registration, including:
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Reviewing your current ownership: checking the title, registered owners and existing tenancy.
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Explaining the proposed change: advising on its legal effect, including survivorship and the implications for your estate planning.
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Checking transaction requirements: assessing transfer duty treatment, relevant notices and any lender requirements.
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Preparing and registering the documents: arranging the necessary documentation, managing lodgement with NSW Land Registry Services and confirming the registered change.
Need to add or remove an owner, or change the percentage each person owns? We will assess those transfer requirements separately rather than treat the matter as a tenancy change alone.
Frequently asked questions
Do all owners need to agree?
Not always. In NSW, a joint tenant can generally sever their own interest from a joint tenancy without the other joint tenants’ agreement, subject to legal requirements and the applicable notice process. We review your circumstances and explain the steps before proceeding.
Will I have to pay stamp duty?
We assess the duty treatment of your proposed transaction, including whether an exemption is available. We also identify when separate tax advice should be obtained, particularly where the proposed arrangement involves changing ownership shares.
What happens if the property has a mortgage?
We review the proposed change alongside the registered mortgage and relevant lender requirements and explain whether lender involvement is needed for your matter.
Discuss your title change with Excel Legal
Not sure how your property is currently held, or which arrangement suits your circumstances? We can review your title, explain your options and provide a quote for the work involved.
Contact Excel Legal to discuss changing the tenancy on your NSW property title.