Buying a Property in Queensland? Items to Check Before Signing a Contract
The property market has become so competitive that buyers are willing to not only pay anything for a property but give up some of their contractual rights to be the most appealing offer to the seller. The problem with giving up your rights is that if a problem arises, you may be stuck with taking care of it yourself. Here are 3...
Additional Foreigner Acquirer Duty – What Foreign Buyers Need to Know
When buying a residential property, a buyer has additional payments to make other than the contract price. These additional payments can involve:
Fees to lodge documents for transfer of ownership at the Titles Office; and
Transfer duty liability with the Queensland Revenue Office.
The Queensland Revenue Office have implemented...
Swimming Pools as part of Property Purchase – What do the Parties need to Provide?
If the property you are selling or are interested in purchasing has a pool, you should note that the owner has obligations to ensuring the pool is at an adequate standard or else risk termination of a contract. This article will explain obligations the seller has in a contract to ensure the pool complies with the stipulated...
When should a Lessee Renew their Lease Option?
Leases often come with a possibility to extend the lease for a certain period of time. This is considered a lease option period and if the lessee wants to pursue extending their lease, there will be obligations and deadlines the lessee must achieve to be granted the lease extension.
Renewal Requirements
Note that a renewal...
Leaving Gifts to Children in Wills – How to Leave Gifts and how Old should a Child be to Inherit?
Parents are commonly faced with the decision on how to leave gifts to children in their wills. Parents have a difficult balancing act between ensuring their child receives some financial benefit while ensuring their child has the maturity to deal with the inheritance appropriately.
There are three common options for leaving a...
Body Corporate Voting – A Step in the Digital Era
Body Corporate meetings and voting have received a modern transformation through the Body Corporate and Community Management (Standard Module) Regulation 2020 (Qld), with the introduction of the use of electronic technology. Now that it has been introduced, body corporate committees and their members should be aware of how and...
Can your Behaviour be so Bad that you Write yourself out of a Will? Disentitling Conduct and the Forfeiture Rule
A will maker will usually be warned by their lawyer about the risks of not including an entitled person in their will. If an entitled person, spouse, child or dependent, is omitted, or not adequately provided for in a will then they may make a court claim for compensation against the estate. What a will maker will not normally...
Leasing Premises for your Business? Do you Need to Pay the Lessor’s Mortgagee Consent Fees?
There are many costs to leasing a premises, not just rent and outgoings. One of these costs may include a lessor’s mortgagee consent fee. Not only is it important for lessees to be able to identify what this cost is, but it is important that both lessors and lessees be aware it is lawful to make the lessee pay the consent fee....
Building and Pest Condition Explained – Why you Should Engage a Lawyer to Assist you with your Purchase or Sale
The building and pest condition is an essential term of any residential contract. It gives the buyer crucial protection to exit out of the contract, if there is something wrong with the property that would be of significant cost to the buyer to fix. This article will discuss:
each party’s obligations;
how a party can terminate...
Bought a Property with a Periodic Tenancy – What does that mean?
A buyer has purchased a property and on the contract, the tenant schedule has been filled out with the term of lease stated as “periodic”. This can be confusing to understand what does periodic mean, when does the tenancy end and how does it impact a buyer’s intention to use the property.
What does it mean?
A periodic agreement is defined by the Residential Tenancies and Rooming...