11.1.50
Stamp duty on property purchase, transfer and death

Extent: Jersey
Updated 11 December 2008 
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1.

On house or land purchase (on which a dwelling is to be constructed) (FIRST TIME BUYER) for own occupation [freehold]

2.

The transaction must however fulfill all the following conditions:-

[A] the purchaser requests that the stamp duty be assessed in accordance  with the following;

[B] the purchaser is a person to whom Regulation 1(1)(a) to (h) or (n)(ii) of the Housing (General Provisions) (Jersey) Regulations 1970 applies;

[C] the purchaser satisfies the designated officer that he or she has never owned a reversionary interest in any dwelling accommodation wherever situated nor has he /she ever previously been entitled to occupy such dwelling accommodation [or would have been so entitled if condition [B] applied] by virtue of having owned the accommodation, and for the purpose of this clause "owned" includes;-

a] having held such accommodation on contract lease;

b] having owned such accommodation together with any other person;

[c] having owned shares that confer entitlement to occupy such accommodation; and

[d] any arrangement whereby such accommodation was held in the name of a nominee or trustee, or of a company owned by such nominee or trustee, for the benefit of the purchaser; and

D] the consideration for the sale is not less or not substantially less than the gross value of the property as sold.
 
Transfer of property with no cash consideration eg gifts

3.  Same rate as in para 1

4.Property devised in a will of Realty, will need to be registered with the Public Registry at the Judicial Greffe, Royal Court House, Royal Square, St Helier. There is duty payable upon application to Register and a fee of £150 for a personal application to register a will of immovable estate.

5. The Registry requires two valuations of the property when the application is from a member of the public. Application by a legal advisor is recommended if the property is not left to the immediate heir / heirs.

6. If the beneficiary(ies) under the will is(are) the same person(s) to whom the property would have passed on an intestacy (and in the same shares) then the fee shall be £50 in the case of a professional application for each document registered, and in any other case £150 for each document registered. On the annulment of a will by the Court, the Greffier, on application being made to him, shall issue a certificate authorizing the Treasurer of the States to reimburse to the applicant the amount of the fee originally paid or so much thereof as the Greffier shall determine.

Stamp duy on personal estate

 If the net value of the personal estate is less than £10,000 there is no fee. If the net value exceeds £10,000 but is under £100,000 the fee is £50 for each £10,000 or part thereof. If the net value exceeds £100,000 the fee is £500 in respect of the first £100,000 plus £75 for each additional £10,000 or part thereof.

In all cases the fee for a personal application for probate or letters of administration is £150.

Re-registration of the matrimonial home

7.  If the matrimonial home was bought as joint ownership, the interest in the property passes to the surviving spouse on the death of the husband/wife. There is no need to register the will of immovable property.

8.  If the matrimonial home was bought as owners in common or owned entirely by the spouse then on the death of the husband/wife the interest in the property passes to her/his heirs. If the beneficiary(ies) under the will is(are) the same person(s) to whom the property would have passed on an intestacy (and in the same shares) then the fee is £150 for a personal application or £50 in the case of a professional application.

9.  Where the testator devises to his spouse a property which, at the time of his death, was their matrimonial home, the net value of that property shall be disregarded in determining the net value of the immovable property devised.

Transfer of property on divorce or separation, or within a marriage

10. If transfer is by reason of a Court Order (or Out of Court Settlement) under the Matrimonial Causes (Jersey) Law 1949, then the fee is £5 per page of application with a minimum of £10.

11. When the matrimonial home is owned solely by one party of a marriage it can be transferred to joint-ownership. The fee payable is £5 per page with a minimum fee of £10.

12. When the matrimonial home is jointly-owned it can be transferred to the sole ownership of one party of the marriage. The fee payable is £5 per page with a minimum fee of £10.

Transfer of property - co-habiting couples

13. Concession on stamp duty does not apply but Registrar of Deeds has discretion if couple have been co-habiting for many years. Each case is considered individually.

14.

In all cases a £50 fee will be charged for each document registered.

15. First Time Buyer- Registration of charge [mortgage] on property

Up to £300,000 Nil stamp duty,

£300,000 to £400,000 nil in respect of the first £300,000 plus 25p for each £100 or part of £100 in excess thereof subject to a minimum of £25.

Over £400,000 normal tariff applies see Para 14.

16. Jersey Homebuy Contracts

NO stamp duty is payable on a contact of sale of immovable of immovable property, or on the acknowledgment of debt, where the sale relates exclusively to a purchase under the Jersey Homebuy Scheme.

17.Changing Mortgage Provider

There is no stamp duty to pay (except for administration charge) when homeowners transfer their existing borrowings, secured on that home, to a new mortgage provider.