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LIV calls to reform the Duties Act 2000 to protect against elder financial abuse

LIV calls to reform the Duties Act 2000 to protect against elder financial abuse

By Elder Law Section

Aged Persons Personal Property 

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The LIV has called for reform to the Duties Act 2000 to protect against elder financial abuse

In a letter to the Treasurer, the Law Institute of Victoria notes its concern regarding the unfair impact of the Duties Act on victims of elder financial abuse where a person has exerted undue influence over the older person to transfer title to property.

The unfair operation of the Duties Act  arises where, once property recovery proceedings have been commenced and resolved, the older person is required to pay duty on the transfer of the property from the third party back to the older person.

The LIV letter recommends a proposed exemption provision and a proposed refund provision under the Duties Act.

Read the full submission here.

Contact

Elder Law Section
Alexander Laurence
ALaurence@liv.asn.au
03 9607 9565
 


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