Queensland Consolidated Acts

DUTIES ACT 2001 - SECT 143

143 Exemption—change of tenure

(1) Transfer duty is not imposed on an agreement for a transfer entered into, or a transfer made, solely for the purpose of changing the registered ownership of property—

(a) from tenants in common to joint tenants; or

(b) from joint tenants to tenants in common.

(2) Subsection (1) applies only if—

(a) the total value of the co-owners’ interests in the property immediately before the agreement was entered into, or the transfer had effect, is not changed; and

(b) either—

(i) for subsection (1) (a) —immediately before the agreement was entered into or the transfer had effect, the owners held the property as tenants in common in equal shares; or

(ii) for subsection (1) (b) —after the transfer has effect, the owners hold the property as tenants in common in equal shares.