Transmission of Estate Assets
As an executor, it is your responsibility to ensure that the assets of the deceased’s estate are administered in a timely manner and in accordance with the provisions set out in the will. Before this can take place, you may also need to take steps to have the assets of the estate transferred to you first so that you are able to deal with the particular asset.
In New South Wales, there is a streamlined system that allows you as the executor to have the assets of the deceased estate transferred to you or the beneficiaries of the will. The process is outlined below.
1. Fill out a Transmission Application Form
The first step to have property transferred to you or the beneficiary is to obtain and fill out a ‘Transmission Application Form’. There are two (2) types of forms that you are able to fill out:
- Form 03AD: Transmission Application by devisee, beneficiary or next of kin; or
- Form 03AE: Transmission Application by executor, administrator or trustee.
The key information you will need to include on the form is as follows:
- The lot and plan number of the property. If you do not know this, you can do a title search of the property;
- Your contact details;
- The full name of the deceased who owned the property;
- The full name of the person who the property will be transferred to;
- The capacity of the person of whom the property will be transferred (i.e. executor or beneficiary);
- Date when Probate/Letters of Administration was granted.
- The full name of the executor; and
- The electronic Notice of Sale (eNOS) identification key.
2. Obtain a certified copy of the Probate/Letters of Administration
Generally, you or your lawyer will have the original copy of the Probate or Letters of Administration. Along with the Transmission Application Form, you will need to lodge a certified copy of these documents. This is easily obtained by going to see a lawyer, who is able to certify these documents for you.
3. Lodge with Revenue NSW
When you have filled in the Transmission Application Form and obtained a certified copy of the Probate or Letters of Administration, you must then file these documents with Revenue NSW to assess whether any stamp duty is payable.
If you are applying as a beneficiary, there is stamp duty payable in the sum of $50.00.
If you are applying as the executor, there is no stamp duty payable.
4. Create an eNOS record and obtain the certificate of title
An eNOS record can be done electronically using the NSW Land Registry Services website.
You will need to have the following details:
- The lot and plan number of the property;
- The address of the property;
- The address for service of the notice; and
- Details as to how the property was acquired (i.e. will or intestacy). There is a field which requires the date of acquisition of the property. This will be the date that the Probate or Letters of Administration was granted.
Once you have created this record, you will need to then obtain the certificate of title. This is usually kept by a bank if the property has a mortgage over it. The bank will generally not provide the certificate of title until the mortgage has been paid, or you take over the mortgage.
5. Register the documents at the NSW Land Registry Services
You will then need to lodge the following documents to the NSW Land Registry Services:
- Transmission Application Form stamped b Revenue NSW;
- Certified Copy of Probate or Letters of Administration;
- Original Certificate of Title; and
- If completing this process without a lawyer, a ‘Conveyancing Rules Exemption Form’.
You will also need to pay the filing fee of $143.50.
Once this is done, and the NSW Land Registry Services are satisfied that the documents lodged are filled out correctly, they will update their register and issue a new Certificate of Title.
Ready To Get Started, Or Have Further Enquiries ?
Our estate planning services are fixed in pricing as we believe in giving our clients certainty and value transparency.
Or use the Settify link below to get in touch with one of our experienced estate planning professionals.
