As a property owner, you are responsible for paying for rates and outgoings associated with your property. Rates and outgoings are payable at the frequencies appointed by you or the relevant service provider. A frequently asked question is – what happens if I pay rates that exceed the time I am the property owner? What … Read more
The First Home Buyer Choice is a New South Wales Government Scheme, which commenced on 16 January, 2023. This provides buyers with the choice of paying transfer (stamp) duty or opt into paying property tax annually. This Scheme is applicable to contracts entered into on or prior 30 June 2023. This scheme is available for first home … Read more
When a person dies, the named executor (or executors) of the Will steps in to deal with the administration of the estate. The executor’s responsibilities generally include collecting and valuing assets, arranging the funeral, applying for probate, and distributing the remainder of the estate in accordance with the Will. The following provides an overview of … Read more
A Self-Managed Super Fund (SMSF) is a private super fund that you manage yourself. So instead of putting your money into a retail or industry super fund, you are managing your super fund yourself and decide how the funds are invested and their insurance. Can I purchase residential/commercial property with my Self-Managed Super Fund? In … Read more
A Related Party Transfer (RPT) is the process of where a property is transferred between parties that are related. The term ‘related parties’ means people who are related by blood, marriage, relatives, associated trusts and companies. How does stamp duty work on a Related Party Transfer? Stamp duty (now known as land transfer duty) is … Read more
After signing a contract of sale, as the purchaser, you are required to pay a deposit at exchange of the contract. Deposits in NSW The deposit is usually 10% of the purchase price, but this can vary when the buyer and seller negotiate a different amount. In New South Wales, you would typically first pay … Read more
Since Property Coach’s inception, the team at W Legal Group have been committed to helping ours clients understand the many confusing processes of the property market. Here we have a list of the best articles for anyone wanting to know more about purchasing property, especially for those who are purchasing for the first time. Buying … Read more
What is a caveat? A caveat is a legal notice that prevents the registration of new dealings and plans on the title. This means that any further dealings in relation to the land cannot take place without first removing the caveat or obtaining the caveator’s written consent. A caveat recorded on the title is a … Read more
What is a caveat? A caveat is a legal notice which prevents the transfer of a land title without the consent of the caveat holder. The purpose of a caveat is to prevent any further formal dealings on the property to protect and preserve the interest of the caveator. Anyone who does a title search … Read more
Conveyancing is a process that involves the transfer of the legal title of a property from one person to another. The most common type of conveyancing transaction is selling property from one owner to another, but it can also be used in other situations, such as when a property is inherited or gifted. The first … Read more
Purchasing and selling a property in NSW is relatively straightforward when you appoint the appropriate persons for the transaction. In this article, we focus on why you should never buy or sell your property without a conveyancer or solicitor. The purpose of Sydney conveyancers and solicitors The role of a conveyancer or solicitor is to … Read more
With the variety of DIY kits on offer for conveyancing it’s tempting to buy one to save on legal fees. These kits promise a step-by-step process to completing a conveyancing transaction successfully. However, what they can’t do is identify and address any issues that can potentially arise from the transaction. This is where an experienced … Read more
When property and assets are jointly owned, and one of the joint owners passes away, the property and assets will automatically pass to the surviving party. Both names will remain on the title until a survivorship application is completed. To remove the deceased party’s name from the title, the surviving party must lodge a survivorship … Read more
The process of lodging a caveat is not difficult, but it’s important to understand whether there is a valid interest in the property which the caveat seeks to protect. Caveatable Interest A caveat is a legal notice which can prevent any dealings with a property without the consent of the caveat holder. You can register … Read more
Different states have different approaches to lodging a caveat. Here we’ll discuss Queensland’s approach to completing one. What is a caveat? In short, a caveat freezes the status of a property title to prevent it from being sold or dealt with. It also informs the public of the caveator’s interest in a property. Caveats are … Read more
Different states have different approaches to lodging a caveat. Here we’ll discuss Western Australia’s approach to completing one. What is a caveat? A caveat is essentially a notice placed on the title which prevents any person from selling or dealing with the property. What is a caveatable interest? Any person who has a legal … Read more
You can never be too careful when buying a property! Here’s a rundown of what you need to know before you buying in Victoria. Cooling off period For private sales, purchasers have a chance to change their mind about their property purchase within three business days from the day the contract is signed. Note that … Read more
While it’s more often that a Purchaser may default on a contract, there are certainly occasions where the the Vendor may default on a contract instead. Here are the most common scenarios where a Vendor may find themselves breaching the conditions of the Contract of Sale. What is a default on a contract? A party … Read more
What is considered too much or too little information, and how do you ensure you provide the right information? There are 5 general items that you need to disclose when you sell your property. Pre-contractual disclosure obligations It is a seller’s obligation to disclose all relevant information that may be considered a limitation, restriction or … Read more
As the world becomes more globalised it is increasingly common for Vendors to sell property across different states and territories. In Australia, certain attributes of a property must be disclosed by a vendor to the purchaser prior to the sale. Vendor disclosure obligations are unique to each state. As a result of this, it is … Read more
What is a caveat? Under Section 89 of the Transfer of Land Act 1958, a caveat is a legal notice which can prevent any dealings with a property, such as the transfer of the land title, without the consent of the caveat holder. When a caveat is registered it will appear on a property’s title unless … Read more
As property prices keep hitting new records, it becomes harder for people to buy their first home. Fortunately, the government has announced numerous grants and schemes assisting first home buyers to save for their first property. The First Home Loan Deposit Scheme is one of these. What is the First Home Loan Deposit Scheme? The … Read more
Saving for a 10-20% deposit is challenging with increasing property prices. To address this issue and create more opportunities for home ownership for low to medium income earners, the Victorian Government launched the Homebuyer Fund in October 2021. What is the Homebuyer Fund? The Homebuyer Fund is a shared equity scheme that permits the Victorian … Read more
There was a time when Australian settlements had to be conducted in person at a set location. This usually involved long hours sorting through numerous papers to finalise documents. Now, legal representatives and financial institutions are able to attend virtually to complete all types of settlements. This is done through the digital property platform PEXA. … Read more
Setting out to buy your first home can be both exciting and daunting. It’s an expensive process and there is a great deal of information with which you need to be equipped. However, it is well worth the work, both for the joy of living in your own home, as well as for the financial … Read more
What is a Section 32 statement? A Section 32 statement, also known as a vendor’s statement, is a legal document with details regarding any crucial details of the property the seller is must provide to interested buyers. The Section 32 statement is so called because the information it must contain is set out in Section … Read more
What is a Section 32 statement? A Section 32 statement is also known as the vendor’s statement. This document is called a Section 32 statement because the information the seller must provide is outlined in Section 32 of the Sale of Land Act 1962. Before a property is sold, a seller is must provide the buyer with … Read more
Our response time is 2 business hours.
"*" indicates required fields
