Once contracts are exchanged in NSW, the people named as buyers are legally bound, and changing who buys, adding someone or changing ownership shares usually needs the seller's agreement and extra documents. It can add legal costs on both sides, and in some cases extra transfer duty, so confirm the names and ownership structure before you exchange.
This is one of the most common surprises Marcelino sees. Buyers assume a name on a contract is a detail that can be fixed later. It is not a detail: it decides who owns the property and who pays the duty.
Common changes buyers ask for
| Change | Why it is harder after exchange |
|---|---|
| Adding a partner or family member | The seller must agree, and duty may apply to the new interest |
| Removing a buyer | The remaining buyer must take on the whole contract and finance |
| Changing to a company or trust | Different duty rules and lender requirements may apply |
| Changing ownership shares | May need a new nomination or transfer, and duty advice |
| Fixing a spelling error | Usually simple, but still needs to be corrected properly |
Why it costs more
A change after exchange usually means the seller's conveyancer has to prepare or review extra documents, such as a deed of variation or nomination, and they may charge for it. Your conveyancer has extra work too. If the change is treated as a new transfer of an interest, Revenue NSW may assess extra duty.
How to get it right before exchange
- Confirm every buyer's full legal name, as it appears on ID
- Decide joint tenants or tenants in common. See our guide
- Check the names match the loan application
- If buying through a company or trust, get advice first
- Check first home buyer eligibility for every buyer named
Common questions
FAQs
Can I add my partner to the contract after exchange?
Possibly, with the seller's agreement, but it may cost extra and affect duty. It is much easier before exchange.
Can I add my partner after settlement instead?
Yes, by a transfer of part of the property, but duty may apply unless an exemption fits. Get advice first.
Does a name change affect first home buyer concessions?
It can. Every buyer usually needs to meet the eligibility rules.
City Peak Conveyancing acts on NSW property only. This page is general information, not advice about your circumstances.