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Survivorship Deed Template for Australia

A Survivorship Deed is a legal document used in Australian jurisdiction that formalizes arrangements between joint property owners regarding the automatic transfer of property interests upon the death of one or more co-owners. It provides a clear framework for property succession, ensuring smooth transition of ownership rights and helping to avoid potential disputes. The document operates within Australian property and succession law frameworks, incorporating relevant state-specific legislation and requirements for property transfer and registration.

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What is a Survivorship Deed?

The Survivorship Deed is a specialized legal instrument used in Australian property law when two or more parties own property as joint tenants and wish to formalize their survivorship arrangements. This document becomes particularly important in situations involving shared property ownership, whether residential, commercial, or investment properties. The deed explicitly outlines the automatic transfer of a deceased owner's interest to the surviving owner(s), helping prevent potential disputes and ensuring clear property succession. It includes specific provisions about the transfer process, required documentation, and any conditions that must be met. The document must comply with Australian state-specific property and succession laws, making it essential to incorporate relevant legislative requirements and registration procedures.

What sections should be included in a Survivorship Deed?

1. Parties: Identifies all joint owners/tenants who are parties to the deed

2. Background: Recitals explaining the current ownership structure and purpose of the deed

3. Definitions: Defines key terms used throughout the deed

4. Property Details: Identifies and describes the jointly owned property subject to the deed

5. Nature of Joint Ownership: Confirms the property is held as joint tenants with right of survivorship

6. Survivorship Rights: Details the rights of surviving owners upon death of a co-owner

7. Transfer Mechanism: Specifies the process for transferring the deceased's interest to survivors

8. Costs and Expenses: Allocates responsibility for costs related to implementing the deed

9. Governing Law: Specifies that Australian law governs the deed

10. Execution: Formal execution clause and signing requirements

What sections are optional to include in a Survivorship Deed?

1. Mutual Wills Provision: Used when parties wish to prevent changes to their wills that might affect the survivorship arrangement

2. Property Management: Include when specific arrangements for ongoing property management are needed

3. Bank Accounts: Used when joint bank accounts are included in the survivorship arrangement

4. Family Law Declaration: Include when parties wish to acknowledge the deed's interaction with family law rights

5. Life Insurance: Used when life insurance policies are relevant to the survivorship arrangement

6. Dispute Resolution: Include when parties want specific dispute resolution procedures

7. Power of Attorney: Used when parties wish to grant power of attorney for implementing the deed

What schedules should be included in a Survivorship Deed?

1. Schedule 1 - Property Description: Detailed legal description of the property including title references

2. Schedule 2 - Title Documents: Copies of relevant title documents and certificates

3. Schedule 3 - Existing Encumbrances: List of any existing mortgages, charges or other encumbrances

4. Schedule 4 - Death Certificate Requirements: Specifies documentation required to prove death of a joint owner

5. Appendix A - Transfer Forms: Pro-forma transfer documents to be used upon death of a joint owner

6. Appendix B - Consent Forms: Any required consent forms from relevant third parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Property Deed

Cost

Free to use

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