Option Agreements, also referred to as buy/sell agreements or put and call option agreements, provide a party with the right, but not a definite obligation to buy a property or asset. They have a wide variety of uses, including for real property, businesses or business assets and as tools for succession planning. This article focuses
When you are purchasing property in Queensland, there is a lot to think about! Usually, your main concern will be making sure that you can get finance approval and organise searches and the building and pest inspections. Conditions such as finance and building and pest are critical. This means that, as buyer, you must notify
Drownings in home swimming pools are a tragic and all too common occurrence. Pool safety laws have reduced the number of drownings, and are an important factor in the sale of properties with pools. As conveyancing experts, we advise buyers and sellers of their responsibilities and ensure that the contract proceeds smoothly in this area.
It is pretty normal for property lawyers to see a rush of Contracts in late November or early December, in anticipation of Christmas. Quite simply, it is very convenient to use the Christmas break as an opportunity to move. But what happens if the finance date or the time for settlement falls over Christmas or
As a general rule, transfer duty (formerly known as stamp duty), is payable on all property transfers in Queensland. However, there are various concessions and exemptions that are available in certain situations. As a matter of public policy, transfer duty is not always imposed if someone is transferring an interest in property to their spouse.
Buyers can often become confused when they receive settlement figures or a settlement statement in the lead up to settlement. It is common for buyers to misread the settlement figures and think that they are being hit with the seller’s outstanding rates or water bill. This article aims to take the mystery out of settlement
What do I do if I am buying, and I want to change the person(s) or entities listed as buyer in the Contract? If you enter into a Contract of Sale only to find out later that you need to add your partner, add another company name, remove yourself or add another person all together
I often have people come to me from near and far and from all different walks of life. They are often looking to live and work in Australia, or just want to get into our property investment market. Whatever their situation, I have found that the requirements for Foreign Investment Review Board Approval (“FIRB Approval”)
I often get blank faces when I ask clients whether they are purchasing their property as joint tenants or tenants in common. However, you cannot avoid this question if you are looking to buy property with another person; whether they are your spouse, family members, friend or business partner. Understanding the difference between joint tenants
A business’s lease is often crucial to the success of the business. For landlords, compliance with retail lease legislation is important for the validity of the lease and therefore the value of the building. Queensland State Parliament has passed legislation amending the Retail Shop Leases Act 1994 (Qld) (the “Act”). These changes will take effect