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A Variation to the Contract Form or Substitute of Purchaser

A Variation to the Contract Form or Substitute of Purchaser…which one should be used?

A Variation to the Contract form whereby names or entities are involved should only be used to correct the spelling of a name or include the middle or missing name from the person already listed as the buyer.

A Variation to the Contract form cannot be used to include someone else on the contract. Under these circumstances, a Substitute purchaser or transferee form needs to be created, and this can only happen (without avoiding possible double duty) when there is a direct relationship between the parties.

A person is related to the purchaser if they have a qualifying relationship. If not, duty will be chargeable in the interest on the property the person on the transfer will receive.

The following persons are related to a purchaser who is an individual.

  • The purchaser’s spouse or de facto partner
  • A parent or remoter lineal ancestor of the purchaser or of the purchaser’s spouse or de facto partner
  • A child or remoter lineal descendent of the purchaser
  • A spouse or de facto partner of a child or remoter lineal descendant of the purchaser
  • A spouse or de facto partner of a parent or remoter lineal ancestor of the purchaser
  • A sibling of the purchaser or of the purchaser’s spouse or de facto partner
  • A spouse or de facto partner of a sibling of the purchaser or of a sibling of the purchaser’s spouse or de facto partner

See the link for the Fact Sheet and be sure that you get it right first time.

https://www.wa.gov.au/government/publications/duties-fact-sheet-substituted-transferees

The wrong information taken when writing up the offer for a buyer/s can be very costly, meaning double duty could be charged if the buying entities are incorrect, always call your conveyancer for support if required.