In this guide you will learn what a survivorship application is and how to transfer a property title to the surviving owner when a joint owner has passed away in Victoria. You will find yourself in this situation if your spouse has passed away or perhaps you are helping your parent or relative with this situation.
What is a survivorship application?
A survivorship application is the process of transferring ownership of a property title held as joint tenants when one owner has passed away to the surviving owner. This is also called an application by a surviving proprietor.
It involves lodging necessary paperwork with the Title Office to update the ownership of the title. However, if you are not registered as joint tenants on the title, rather tenants in common, you cannot do a survivorship application - rather a grant of probate or letters of administration is required. You will know how the property is owned by inspecting the property title.
Do I need to transfer ownership of the title to the surviving owner?
In short, yes. If one owner has passed away, and then you want to sell or refinance the property, before you are able to do this it is a requirement for the ownership on the property title to reflect the surviving owners. However, if you are not planning to sell or refinance a property straight away, you don't need to do the transfer straight away. Rather, you can wait until you need to deal with the title before updating it.
What does an application by a surviving proprietor involve in Victoria?
To lodge a survivorship application generally the following steps are involved:
- Obtain the original death certificate of the deceased.
- Engage a solicitor - our office can assist you with this job.
- The surviving owner needs to attend the solicitor's office with the original death certificate, the surviving owner's 100 points of ID, and the original property title. If you don't have the title as it is controlled by a bank, bring along the loan's account details. If you are not sure where the title is located, the solicitor can help obtain it.
- The solicitor will verify the surviving owner's identity, get them sign a statutory declaration confirming the death of proprietor, and then prepare the necessary title office paperwork to lodge.
- If there is a bank involved, the solicitor will firstly reach out to the bank to seek consent to update the title and for the bank to provide the solicitor with the title so they can update it. If there is a clear title with no mortgage, we skip this step.
- The solicitor will lodge the application with the title office and obtain an updated title with the surviving owner listed as the sole proprietor.
- The solicitor will inform the council, water authority, and owners corporation (if applicable) of the change of ownership.
- Done.
How long does the process take?
If you have a clear property title, the process takes a week. If you have a mortgage on the property, the process can take up to a month, as your lender controls the property title. How fast the lender is depends on the bank involved.
When there is a mortgage, we first need to contact your bank informing them that an owner has passed away and seek their consent to provide the property title to us so we may lodge the survivorship application to update the ownership. At the same time, the bank may require you to refinance or update the mortgage on the title to reflect sole ownership (it depends on the bank).
What if the owners were registered as tenants in common and not joint tenants?
If the owners were registered as tenants in common and not joint tenants, you cannot do a survivorship application. Rather, you need to make an application to obtain a grant of probate or letters of administration.
After the probate or letters of administration is obtained, then you can update the property in accordance with the deceased's Will, or if there is no Will, in accordance with State law. Our estate and probate solicitors can assist you with this.
What are the costs involved with a survivorship application?
You will incur the following costs for a survivorship application in the 2024-2025 financial year:
- Legal fees: Our office charges the following fees for this job, if there is a mortgage involved there is more work involved with the bank:
Clear title: $770.00 (GST and title searches inclusive); or
Mortgaged title: $1,100.00 (GST and title searches inclusive) - Title office lodgement and PEXA fees: $87.75
- Bank consent fees: Depends on the bank. Some banks do not charge a fee, others charge consent fees of $150-$300 or so. If the bank requires the mortgage to be updated, then there will be additional mortgage title office fees.
Need help transferring a property title from a deceased proprietor?
Need help with your survivorship application? Please engage our services by completing the form below or calling our office on 03 9708 5564. We offer fixed fees and prompt service.
Disclaimer: This guide relates to Victorian law and should not be relied upon for legal advice, but is general in nature. Please contact our office for a consultation to receive legal advice for your specific needs.