Conveyancing & Property Law
- Buying and selling residential property
- Buying and selling commercial property
- Off-the-plan purchases and strata title properties
- Commercial and retail leasing
- Option agreements
- Property development and subdivisions
- Caveats, easements, and mortgages
- Property transfers
Buying residential property
Signing a contract to buy property creates binding legal obligations. Accordingly, you need to understand exactly what you are buying, the terms and conditions of sale and your legal position before you sign and exchange contracts. We can review your proposed contract, explain and negotiate its provisions, and recommend any due diligence to help you decide if the investment is right for you.
Whether you are a new home buyer or a seasoned investor, we aim to make the conveyancing process as seamless as possible and will answer your questions promptly so you can make informed decisions.
Selling residential property
You will need a written contract prepared before offering residential property for sale. The contract must include specific disclosure documents as prescribed by law. Vendors must also provide certain warranties about the property they are selling. We can explain your obligations as a seller and prepare a compliant contract that is also tailored to your needs. Once a buyer is found, we will liaise with the buyer’s lawyer, the agent, and your financial institution, if relevant, to ensure a smooth settlement.
Buying a unit in a strata scheme
Purchasing a unit in a strata scheme requires additional considerations to those relevant to buying a free-standing dwelling. When you buy a strata title property you hold title to the individual lot as well as a shared interest in and responsibility for common areas such as stairways, lifts, and gardens.
After completing your purchase, you become a member of the owners’ corporation which is responsible for managing the strata scheme. This involves matters such as financial management, arranging insurance, and organising repairs and maintenance to the common property. This can involve additional financial considerations which should be factored into your plans. Strata properties also have by-laws which regulate matters such as the carrying out of renovations, noise, parking and the keeping of animals. You should understand all by-laws before proceeding with your purchase.
Transferring shares or interests in property
Sometimes shares or interests in property are transferred in circumstances that do not involve a typical sale and purchase transaction. This may occur when a co-owner of property dies or the property is transferred under the provisions of a Will, or when a relationship breaks down and the property is transferred pursuant to an agreed settlement or court orders. Shares in property may also be transferred for asset protection purposes or where property is gifted to children or other family members.
The idea of transferring property without having to go through the sale and purchase process may seem straightforward, however there are legal and financial considerations. It is important to understand the effect of a proposed property transfer and to obtain professional advice to ensure that the arrangements are formalised correctly and do not trigger unintentional adverse duty or taxation implications. In such cases, it is prudent to obtain advice from a financial professional.
We can explain the effect of your proposed transfer and complete the necessary documents for the assessment of duty (or applicable concession) and register the transfer.
Property development and subdivisions
Subdivision typically involves the division of one parcel of land into one or more smaller lots so they can be individually sold or transferred as separate titles.
Property development is governed by legislation, regulations, planning schemes and policies administered by local councils and other government bodies. It is important to understand the overlap of the relevant laws, and the processes required to achieve the proposed objectives and minimise costly mistakes.
We can help with your proposed property development or subdivision.
Option agreements
An option deed is typically an agreement to buy/sell a certain property within a specified time and on specified terms and conditions. They are often negotiated between landowners and property developers and can include a range of terms to accommodate the parties’ circumstances.
Buying under an option agreement may provide a developer the opportunity to secure a price for land flagged for future development while finance and due diligence is organised. An option arrangement can provide a landowner control over the timing and other aspects of the sale. Option agreements however are technical, complex arrangements. Each party should be independently advised to ensure the deed is carefully drafted with terms appropriate for their needs.
Property transactions can be complex and require an understanding of conveyancing processes, contract law and a range of other considerations. As property is often our most valuable monetary asset it is important to be guided by professionals.
If you need assistance, contact [email protected] or call 02 9724 7188 for expert legal advice.