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Conveyancing

Michelle Bromfield has been shortlisted for the Women in Law Awards 2023

The Women in Law Awards is the most highly regarded awards program across Australia recognising exceptional women in the Australian legal industry. This prestigious national awards program presents an exceptional opportunity for leading women to showcase their achievements, attract more clients, and propel their careers on top of…

Proposed Changes to Stamp Duty in NSW

On 17 November 2020, the NSW Treasurer announced proposed changes to stamp duty including an election by property purchasers to pay a smaller annual tax in lieu of a one-off up-front lump sum based on the value of the property. Stamp duty has become a major barrier to…

Priority Notices: Pros and Cons

Priority notices were introduced as part of the electronic conveyancing process in 2016. What are priority notices? Priority notices are forms of land dealings that are registered on title and temporarily act as a caveat would: they put third parties on notice that the priority notice holder intends…

Franchising Code of Conduct – Part 1

The Franchising Code of Conduct is set out in Schedule 1 of the Competition and Consumer (Industry Codes – Franchising) Regulation 2014 (Code).The Code regulates the conduct of parties (or prospective parties) to a franchise agreement. Obligation to Act in Good Faith The Code introduces a positive obligation…

Owners Corporation barking mad for banning dogs from common property

Earlier this year, the NSW Civil and Administrative Tribunal handed down a decision in Yardy v Owners Corporation SP 57237 [2018] NSWCATCD 19. The Tribunal decided that the owner of a lot was allowed to keep his small Maltese cross terrier, called Baxter, on the lot owned by…

Sale by Public Auction

Buying a property at auction is different to buying a property by way of private treaty.The bidding process is public and once the metaphorical hammer falls at the auction, if you are the highest bidder, you are required to proceed to sign a Contract for Sale. The auctioneer…

New Laws affecting off the plan residential contracts

Amendments to the Conveyancing Act 1919 were passed by the NSW Parliament on 13 November 2018 that impose further obligations on developers.The changes affect disclosure, the statutory cooling-off period and rescission of the contract, amongst other things. Disclosure Statement It will be an offence to offer residential property…

Buyer (and their Lawyers) Beware: The new tax collectors

New GST legislation will take effect from 1 July 2018 that will affect developers and purchasers of new residential land and their respective legal advisors. The Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 was passed and assented to on 29 March 2018. Amendments were made to…

Why choose a lawyer over a conveyancer?

Australians have a love affair with real estate. When you are undertaking one of the biggest financial commitments of your life, you will inevitably have to elect between a lawyer or a conveyancer to act on your conveyance. But what is the difference between a lawyer and conveyancer?…

Sunset clauses in an off the plan purchases

In contracts for off the plan purchases, clauses are often included that provide for either party to end the contract in the event that the unit being purchased is not complete by a sunset date. In 2015, the media reported that developers were exploiting these sunset clauses by…

New disclosure requirements for contracts for sale of residential land

From 1 September 2017, contracts for sale of residential land will need to be updated to include new documents and meet new disclosure requirements.   Before residential property can be sold, a vendor is required to prepare a contract for sale that: discloses information about a property’s title,…

Housing Affordability: New Bills before the Federal Parliament

Housing affordability, rising house prices and high levels of home loan indebtedness are topics that have received much public comment in the media. In the 2017–18 Budget, the Government announced the “Reducing Pressure on Housing Affordability – first home super saver scheme. There are currently four bills before…

Are you selling or buying a house for $750,000 or more?

If so, recent changes to the Foreign Resident Capital Gains Withholding Tax regime will now affect Australian vendors who sell residential property for more than $750,000 As from 1 July 2017, contracts for the sale of residential property in Australia with a sale price of $750,000 or more…

What should be in the contract for a sale of residential land?

Purchasing property is an immense financial undertaking and it is essential that the contract for the sale of land meets all of the legal requirements to ensure that the process will proceed as smoothly as possible. Therefore, basic information beginning with the price, the parties to the contract,…