sec.151Exemption—particular residences

### sec.151 Exemption—particular residences Transfer duty is not imposed on a dutiable transaction that is the transfer, or agreement for the transfer, by way of gift, from 1 party to a subsisting marriage, de facto relationship or civil partnership, to the other party to the marriage, de facto relationship or civil partnership, of an interest in residential land if— after the transfer, the residential land will be owned by the parties as joint tenants or tenants in common in equal shares; and the residence will be the principal residence of the parties. Subsection (1) applies even if liability under a mortgage over the interest in the land, in existence immediately before the transaction, is assumed by the other party under the transaction. In relation to subsection (2) , see also section 616 . s 151 amd 2010 No. 11 s 29 ; 2011 No. 46 s 52 ; 2012 No. 12 s 50 ; 2015 No. 33 s 46 (sec.151-ssec.1) Transfer duty is not imposed on a dutiable transaction that is the transfer, or agreement for the transfer, by way of gift, from 1 party to a subsisting marriage, de facto relationship or civil partnership, to the other party to the marriage, de facto relationship or civil partnership, of an interest in residential land if— after the transfer, the residential land will be owned by the parties as joint tenants or tenants in common in equal shares; and the residence will be the principal residence of the parties. (sec.151-ssec.2) Subsection (1) applies even if liability under a mortgage over the interest in the land, in existence immediately before the transaction, is assumed by the other party under the transaction. In relation to subsection (2) , see also section 616 . - (a) after the transfer, the residential land will be owned by the parties as joint tenants or tenants in common in equal shares; and - (b) the residence will be the principal residence of the parties.