Not in common ownership (NICO) transfers

A transfer of dutiable property as a result of a not in common ownership (NICO) plan of subdivision or consolidation.

Any land acquired by the transferee which they had no prior interest in before the NICO subdivision or consolidation is dutiable.

If the value of the property is regarded by the parties as negligible, an estimate of the value of the portion of the property being acquired by the transferee must still be provided.

Related guidance

• Land Titles Victoria has a guide to NICO subdivisions and consolidations. Type ‘NICO’ into the search bar to access the guide.

1. Digital Duties Form.
2. Copies of the certificates of title or title searches before and after the NICO subdivision or consolidation.
3. The relevant plans of subdivision or consolidation from before and after the NICO subdivision or consolidation highlighted to show the areas of the properties that are changing ownership.
4. Any agreements made between the parties.
5. Evidence of the value of the portion of the property being transferred by way of:
   • a letter of appraisal from a licensed real estate agent and a copy of the rate notice
   • a valuation from a certified practising valuer who is a member of the Australian Property Institute or is a member of the Real Estate Institute of Victoria with sworn valuer accreditation
6. A statutory declaration made by the transferor, addressing the matters set out below:
   • a description of the full circumstances of the NICO subdivision or consolidation
   • the location of the property and the relevant title references
   • the dimensions/area of the property being transferred
   • the value of the portion of the property being transferred together with the basis upon which the value has been determined.