Recently on my regular volunteer duty night at Suncoast Community Legal Service, I heard a very sad story involving a client’s family and money. What are the problems with lending money to family and friends? With the best intentions, Dad had lent his son several hundred thousand dollars to buy a house. The son had
At Ferguson Cannon we have grappled with the Property Agents and Motor Dealers Act (“PAMDA”) since it started in 2000. On 6 May 2014, the Property Occupations Act (“POA”) was passed by the Queensland parliament. The new legislation ends the 14 year reign of PAMDA and has been greeted with relief by most in the
Some may think that property conveyancing is a standard procedure in which there are rarely any dramas. Our experience tells us to expect the most unusual issue to arise out of the blue. The “encroachment” of a structure onto a neighbouring property is one of the biggest dramas that a buyer or seller can experience.
I recently advised an international client in relation to the Foreign Acquisitions and Takeovers Act 1975 (Cth) (‘the Act’). The Act contains a complex list of scenarios which require approval from the Foreign Investment Review Board. These provisions are often inadvertently overlooked by international investors when considering investing in an Australian company or purchasing Australian
No-one’s got any money. Sellers want too much. Why is my bank taking 21 days to give me an approval? Help me – I have signed an unconditional contract, but to get a cheaper price I didn’t make it subject to the sale of my other property which has now fallen over! Hey, they’ve removed