REQUISITIONS ON TITLE EXPLAINED Requisitions on title are essentially questions relating to the sale of a property drawn up by lawyers. During the conveyancing process, and within 21 days from the date of the contract, the Purchaser's legal representative will make...
Commencing 1 July 2018, eligible persons aged 65 years or over who after 1 July, 2018, enter into a contract to sell a property they have owned for a minimum of 10 years will be entitled to contribute an amount of up to $300,000 from the sale proceeds into their...
The First Home Super Saver (FHSS) scheme was introduced as part of the 2017-18 Federal budget. Commencing 1 July 2017, eligible participants have been able to make voluntary concessional (before-tax) and non-concessional (after-tax) contributions into their super...
Subject to what land you own, land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. Land tax can apply to land whether or not income is earned from the land. The definition of land includes: vacant land, including vacant...
Whilst the fundamentals to buying or selling a commercial property are the same, residential and commercial transactions differ in a number of aspects. When selling/purchasing a commercial property there is no requirement that a contract be prepared prior to marketing...
A question that seems to come up quite regularly is whether you can change the name of the purchaser once contracts have been exchanged. The scenarios that may arise include; Someone may buy a property at an auction then speak to their accountant who suggests that it...
Yes, but this is best explained by looking at the law behind it. Under the Conveyancing Act 1919 (the Act) and Conveyancing (Sale of Land) Regulations 2017 there are prescribed documents that must be included in all contracts for the sale of residential land in NSW....
The new GST withholding regime was first announced as part of the 2017-18 Federal Budget and contains a number of substantial changes. This regime has now become law. From 1 July, 2018 purchasers of new residential properties and subdivisions will be required to...
The times they are a-changing!! Conveyancing is continuously evolving with changes to legislation and technology happening at great speed. One of those changes is the electronic exchange of Contracts which has been introduced to make the exchange process easier and...
The Advantages and Disadvantages of Mixed Use Developments What is a mixed use development (MUD)? The Property Council of Australia defines mixed use as "a single building or site accommodating three or more uses such as residential, hotel, commercial, industrial,...
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