What is a Survivorship Application?

If you own real property with someone and the other owner passes away, do you know what happens to their share of the property? The deceased’s share of the property can be transferred to the other registered owner on title without a Grant of Probate or Letters of Administration, provided that the property is held as Joint Proprietors. This transfer is called a Survivorship Application or Application by Surviving Proprietor.

How do you get a deceased’s share of the property transferred to you as the surviving owner?

This is not an automatic process. In order for a deceased person’s share of the property to be transferred to the surviving owner, an application must be made to Land Registry Victoria by, or on behalf of, the surviving owner. The application requests the change on the property title from joint proprietors to the surviving owner as sole proprietor. The application is made on PEXA, a digital property settlement system that lawyers and conveyancers use for property sales, purchases and transfers.

To make the application, you will require various documents, including the original Death certificate of the deceased proprietor and the original certificate of title for the property being transferred. We will also require you to complete a Verification of Identify and sign a Client Authorisation form which authorises our firm to lodge the application for you.

Once we have all the documents, we lodge the application via PEXA. This gets sent to Land Registry who will make the change to the proprietors on the title and send us the new title in your name as sole proprietor.

Can I make a Survivorship Application if there is still a mortgage on the property?

If there is a mortgage registered on the Certificate of Title, you can still make a survivorship application, however consent of your mortgagee or your bank for the application to be made must be obtained first. As your bank or mortgagee hold your title, they will advise what their requirements are, if any, to consent to the Survivorship Application to transfer the property to your sole name. They will also need to be involved in the process and added to PEXA to make the title available for Land Registry to make the changes to the title.

Do I have to pay out my mortgage first before I can make a Survivorship Application?

You do not always have to pay out your mortgage before making an Application by Surviving Proprietor, however this is determined by your bank and in consideration of your personal financial circumstances and consideration of the particular product that gave rise to the mortgage.

As part of the process of making a Survivorship Application, your bank will need to provide instructions on what they need to consent to the transfer and you will have to fulfil those requirements in order for them to consent to the transfer. If the mortgage balance is small, they may not require the balance to be paid out.

How long does a Survivorship Application take?

Generally, a Survivorship Application is not a long process in itself if you have all the required documents in order. However, the time it takes can vary. If there is a mortgage on the title, corresponding with your bank to understand their requirements and confirming the requirements are met in order for them to approve the transfer can take some time. Dealing with banks can delay matters. It means the transfer also has to take place at a date and time suitable for your bank, which can also cause delay.

If you do not have a mortgage on your title, the process can be quicker. Our experienced staff know all the requirements to lodge a successful survivorship application and provide a simple and efficient turn around time, saving you the stress of trying to navigate the process by yourself.

What happens to the title once the Survivorship Application has been lodged?

Once the Survivorship Application has been lodged, a new electronic title will be issued. If you have a mortgage over your property, your bank or mortgagee will be given electronic control of your new title. If there is no mortgage and our office undertakes the application for you, electronic control of your new title will be transferred to our firm. Land Registry no longer issues paper titles. Holding electronic control of your title is no different to our office holding the original paper title.

What are the advantages of using Wollerman Shacklock Lawyers to do a Survivorship Application for you?

Put simply, we know what we are doing! Our experienced team know all the ins and outs of what is required to make a successful and streamlined application, what steps need to be taken and how to correspond with banks in a timely manner. We obtain all the required documents from you at the beginning, so we do not keep coming back to you asking for more. We are subscribed to PEXA which means we can lodge the application online through PEXA. Once the application is signed off, the transaction is almost instant.

We also know which departments to contact at the banks, so we can avoid long delays in waiting for a response from your bank only to be told that it needs to be transferred to a different department!

Most importantly, we do all the heavy lifting and before you know it, the transaction is complete! We correspond with the relevant rating authorities to notify them of the change of ownership as part of our service.

Can I do a Survivorship Application myself?

You can now make an Application by Surviving proprietor by yourself without the need of a lawyer or conveyancer. However, we do not suggest doing so. In fact, Land Registry also strongly recommend that you engage a professional to complete the application for you.

The process for making the application yourself is different if you choose to do it yourself, but you will still be required to complete things such as your Verification of Identity. You must also complete a Statutory Declaration which is to be witnessed by an authorised person. You must also correspond with your bank in relation to the title if there is still a mortgage on the title and you will be responsible for notifying relevant authorities in the appropriate form of the transfer.

This process of lodging the application by yourself can also be much more time consuming as you are dealing with Land Registry directly. Communication times can vary greatly with Land Registry. It is also common for Land Registry to refuse the application and request you resubmit documents such as the Statutory Declaration if it is not completed in accordance with their strict requirements or your identity documents if they are not clear. This can then cause considerable delays and headaches!

By engaging Wollerman Shacklock to undertake the application for you, you can avoid long delays and headaches. We do all this for you!

Can I do a Survivorship Application if the property is held as Tenants in Common?

Unfortunately, a Survivorship Application can only be undertaken if the property is held as Joint Proprietors.

If a property is held as Tenants in Common, the deceased’s share of the property is dealt with in accordance with their Will if they left one, or in accordance with the intestacy laws if they did not leave a Will. This can cause issues if the remaining proprietor is not a beneficiary of the deceased’s Will or estate. To find out more about what happens if someone dies without a Will, have a read of our blog here.

If you own property that is held as tenants in common and concerned about what will happen if the other owner passes away, make an appointment with our experienced estate planning team today.

Do you need assistance with lodging a Survivorship Application in Victoria?

If your property is in Victoria and need to lodge a Survivorship Application, contact our experienced estate team today. We offer fixed fee pricing so you know exactly how much it will cost and we undertake the whole process from start to finish in a simple and efficient manner, taking away the stress and headaches from you!