A land tax charge will only be removed from a title by the Registrar of Titles once the land tax on that property has been paid in full.
How long before a Melbourne Conveyancing Settlement do I need to payout the debt?
Ideally this should be done as soon as possible, but no later than 10 business days prior to settlement.
What if I don’t have the money to pay out the charge?
If you don’t have the money to pay out the charge prior to settlement we may be able to arrange for funds to be drawn from settlement, however it will need to be paid. If your total debts exceed the sale price you should contact our office immediately to discuss your options.
What is a Land Tax Charge?
A Charge is a debt against your properties Title that can only be removed once the debt is cleared. Most of the time Charges from the State Revenue Office are for unpaid Land Tax Assessments or underpayments of Stamp Duty.
How will a Purchaser know if I have a Land Tax debt?
As a part of a Purchasers Conveyance their Conveyancer will obtain a Land Tax Clearance Certificate and a Title Search which will show the debt owing. They will not settle with the debt being unpaid, as is their right.
What is a Land Tax Clearance Certificate?
Land tax is the first charge on the title to the land to which it relates and must be paid before ownership can change.
A land tax clearance certificate certifies how much land tax is due and unpaid on the land. If you are buying, selling or the mortgagee of a property, you can apply for a land tax clearance certificate to see whether any land tax is owing on the land.
For your questions about Land Tax and Melbourne Conveyancing call the number one residential Conveyancing experts at Victorian Property Settlements on 03 9783 0111 or email email@example.com