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...
All you need to know about Contract Deposits Payable when Purchasing Property
What is a deposit?
Often buyers can be confused in believing the deposit is an additional payment on top of the contract purchase price. The Deposit is in fact part payment of the contract purchase price. It is paid before settlement to demonstrate the buyer’s willingness to proceed with the purchase.
When do I have to pay the deposit?
Payment of the deposit is typically paid in...
Can you Purchase a Property Without Cash? Beware of the Dangers
Cryptocurrency (such as Bitcoin) has been on the rise in the last decade. More and more people are becoming interested in moving their money from banks into this digital form of currency. The question arises in the property market as to whether you can buy or sell a house in cryptocurrency. Even if you could purchase a property what are the risks and how does the law treat cryptocurrency....
Terminating a Lease Early – How and when can you exit out of a lease before the end date
A substantial benefit to retail and commercial leases is that they provide a fixed term meaning a lessee is given a set amount of time to occupy the premises. However, either party to a lease may be able to terminate it earlier. It is important to understand when either party may terminate a retail or commercial lease and whether there will be any penalties for terminating....
Rights of a lessee tenant when negotiating a retail lease
Leasing a premises for your business can be an exciting process. However, as leases are generally drafted by lessors, the clauses are predominantly in the lessor’s favour. Nevertheless, the Retail Shop Leases Act 1994 (Qld) (“the Act”) provides lessees protection as long as the lease meets the definition of a retail shop lease. It is important that lessees are aware of their...
Does Superannuation form part of your estate?
Does Superannuation form part of your estate?
Superannuation can often end up being one of an individual’s most significant assets at the time they pass away. A majority of people have minimal involvement with the management of their superannuation and are unaware just how valuable of an asset it is. A common misunderstanding is that superannuation can be dealt with in the will. Most...
Insurances required under a commercial and retail lease
Finding a place to move your business can be a daunting process. The process may involve reviewing the draft lease documents, that contain many pages of clauses. However, one of the most important obligations is the requirement for lessees to take out insurances related to the lease. Not only do the insurances greatly protect the lessee while using the premises but they provide a...