An owners corporation (previously called a body corporate) is created by plan of subdivision, typically where common property exists in a development. Typically, it manages the common property of a Continue Reading
What is mediation?
Mediation is an alternative dispute resolution method that can be used instead of going to a trial in Court. When a dispute goes to trial, the Court will make a decision based on the competing claims Continue Reading
What to consider before you purchase a business
Buying a business is a complex process which requires a significant amount of attention. It is important to understand the reasons surrounding the sale and whether you as the purchaser have the Continue Reading
Types of Joint Ownership of Real Estate
The type of ownership of jointly owned property may be as follows: Joint Tenants This form of ownership exists when parties have equal ownership and interest in the property. A right of Continue Reading
Buying at or before an auction
Selling properties at public auction has become especially fashionable of late and can provide benefits to purchasers and vendors. The statutory cooling off provisions typically available to Continue Reading
What is a partition agreement?
A transfer of land pursuant to a partition agreement can have the benefit of attracting nil or minimal stamp duty. The concept is that, where property is jointly owned as tenants in common in Continue Reading
Buying unconditional as to finance
Most purchasers of real estate rely heavily on borrowing funds from lenders to complete the transaction. General Condition 14 of the standard contract of sale makes provision for a contract to be made Continue Reading
Purchasing a property that is subject to an existing lease
In many if not most cases, upon settlement taking place, a purchaser will be entitled to vacant possession of the property. However, where a contract provides that the property is sold "subject to a Continue Reading
What is e-conveyancing?
Electronic conveyancing or “e-conveyancing” is an online platform provided by Property Exchange Australia Limited (PEXA), where conveyancing transactions are settled electronically. By 1 August Continue Reading
First Home Owner Grant
In Victoria, if you have signed a contract from 1 July 2013, a $10,000 (or $20,000 for regional properties) First Home Owner Grant (FHOG) is available through the State Revenue Office when you buy or Continue Reading