Pursuant to an agreement for sale
- The items listed below are not links. They indicate where you are in this process.
Start
Property
Different property
Consideration
Different consideration
Vendor or transferor
Different vendor or transferor
Purchaser or transferee
Different purchaser or transferee
Interest
Different interest
Conclusion
Generally a sale of real property includes a contract (the agreement for sale of land) and a transfer.
The contract sets out the conditions of the purchase. It attracts duty at the general rate based on the dutiable value of the property.
The transfer gives effect to the transfer of the title. If the transfer is in conformity with the contract, it attracts a fixed duty of $10 under section 18(2) of the Duties Act.
In conformity means that:
the property to be transferred (transfer) is the same as the property agreed to be sold (contract)
the transferor and transferee (listed on the transfer) are identical to the vendor and purchaser (listed on the contract) respectively
the interest being transferred to each transferee under the transfer is the same as the interest agreed to be sold or transferred to each purchaser under the contract
the consideration shown in the transfer is the same as the purchase price shown in the contract.
Note: in limited circumstances, where the transferee and purchaser are not the same person or where the interest being transferred differs from that shown in the contract, fixed duty of $10 may still apply in accordance with section 18(3) of the Duties Act 1997.
For more information on transfers pursuant to an agreement for sale answer the following questions.
More information
