Related party including associated or fractional interest transfers

For sales involving transfers of land to associated persons, or fractional interests, or for less than market value.

1. The Digital Duties Form.
2. Any agreement or contract of sale (if any) between the parties.
3. A copy of the certificate of title.
4. Evidence of the value of the dutiable property by:

• 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 (API) or by a member of the Real Estate Institute Victoria (REIV) with sworn valuer accreditation.
• A letter of appraisal, commissioned by or for a financial institution for security purposes, providing the valuation is by a certified practising valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation. The letter of appraisal or valuation should be:
• In the case of a related party transfer for full or fractional interest (without a contract or that is a gift) — within 6 months of the date of the transfer.
• In the case of a sale under a contract between related parties — within 6 months of the date of the contract.

Note 1: Related party including associated or fractional interest transfers

Evidence of the value of the dutiable property by:

• a letter of appraisal from a licensed real estate agent and a copy of the rate notice, or
• a valuation from a certified practising valuer who is a member of the Australian Property Institute (API) or by a member of the Real Estate Institute Victoria (REIV) with sworn valuer accreditation.

A letter of appraisal, commissioned by or for a financial institution for security purposes, providing the valuation is by a certified practising valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation. The letter of appraisal or valuation should be:

• in the case of a related party transfer for full or fractional interest (without a contract or that is a gift) — within 6 months of the date of the transfer
• in the case of a sale under a contract between related parties — within 6 months of the date of the contract.

Note 2: Appraisals that do not state the valuer's qualifications will be rejected.