Conveyancing and Wills

“ In the legal profession the term ‘costs’ refers to the fees and other expenses a practitioner charges a client for their professional services and other payments that arise out of the provision of legal services, including disbursements such as court fees. Costs are one of the most heavily ... ”

“ Department of Primary Industries, Parks, Water and Environment Crown Land Services ”

“ Sale of Real Property (TAS) Companies, Trusts, Partnerships and Superannuation ”

“ The agent or the client has advised you that a purchase has been negotiated and that details will follow. The majority of the purchase contracts in Tasmania are drawn by agents so the typical file starts with the agent sending a copy of the signed contract. ”

“ Taking good instructions The use of precedent Retainer Instructions ensures that all important issues are considered, instructions which cannot be contradicted later are recorded, costs discussed and the scope of the retainer clearly defined. ”

“ The Law Society and Real Estate Institute standard form contract is ubiquitous and is designed to obviate the need for any alterations and additions. It is shorter, simpler and clearer than most mainland equivalents. The Law Society and the Real Estate Institute are committed to clarity and ease of ... ”

“ The central issues of identity of the purchaser are those relating to tax, tenancy and asset protection. See the dedicated Business structures – Comparative table commentary for more information. ”

“ The property will either have a Torrens, old system, qualified, strata, crown or leasehold title and will be registered or the subject of a proposed subdivision. Torrens title ”

“ It must be unambiguous whether or not GST is payable by the purchaser and whether or not it is included in the price. If substantial inclusions are involved then an apportionment of the price may be necessary for tax purposes. Property transfer duty is payable on the price inclusive of GST ... ”

“ The Competition and Consumer Act 2010 and Australian Consumer Law (Tasmania) Act 2010 prohibit misleading and deceptive conduct and unconscionable conduct and are relevant to vendor disclosure. Incorrect information given in the course of trade or commerce may be misleading and deceptive conduct. ”

“ The law of contract gives limited rights to a victim of pre contract misrepresentation. Generally misrepresentation involves a false statement of fact that induces the other party to enter the contract. If a pre-contractual representation becomes a term of the contract and then is found to be ... ”

“ Usually houses are sold on the basis that ownership is guaranteed but the condition of the property is not necessarily guaranteed. Usually houses are sold on an as is where is basis. If you buy a house unless there is some special provision there is no right under the contract to deliver up the ... ”

“ Prior to exchange you will need to be satisfied that the purchaser has loan approval and is satisfied with the result of the building, strata or other reports. If the client is proceeding to exchange without loan approval then ensure you have the appropriate note of those instructions on the ... ”

“ s 36 of the Conveyancing and Law of Property Act 1884 requires the contract to be signed by the parties or their duly authorized agents. The authority does not need to be in writing but in practice the other party is unlikely to be satisfied that the agent has authority without some writing. ... ”

“ On exchange a 10% deposit is usually required and is held by the agent or vendor’s solicitor as stakeholder. If it is a significant sum or if settlement is well in the future then it is usually invested and the interest earned shared. Normally this is not done as the amount is small and settlement ... ”

“ Exchange can be effected personally, by DX, by post, or as is common when speed is wanted and the parties conveyancers are distant from each other, by phone and fax. The conveyancers fax each other copies of the executed front page of the contract and the special conditions and a copy of the cheque ... ”

“ Passing of risk under the general law occurs on exchange in the absence of agreement to the contrary. Insurance should be arranged accordingly. Possession before settlement ”

“ All major banks have accepted the risk of asking for very little other than for the registerable documentation to transfer the title to the borrower and insurance. There is an overwhelming sanity in taking the risk of the purchaser’s solicitor doing the job competently. They do not ask for surveys, ... ”

“ These enquiries are usually made to negate any adverse affectation by proposals of public authorities. Certificates from the council, the water authority and the State Revenue Office reveal the rates and taxes applicable to the property facilitating adjustments to be made for settlement. Commonly ... ”

“ A practice has developed over many years to ask every conceivable question possible regardless of whether the questions are in fact requisitions on title, or are dealt with by the contract, or their answers lie in the law in any event. The result has been the development of standard replies that ... ”

“ The submission of the transfer or conveyance might be argued to be an acceptance of title and might be made subject to satisfactory replies to any requisitions. The practitioner will prepare the transfer and send it to the vendor’s practitioner. The transfer can be completed online at Tasmanian ... ”

“ Duty on the purchase of real estate is calculated on the higher of price or market value. In arm’s length transactions, the price is accepted as the value but in transfers between related parties, or in other circumstances that raise an expectation that the price might not reflect the value, a ... ”

“ If an error or misdescription in the property contracted to be sold as against the property available is substantial and falls within the ambit of Flight v Booth the purchaser may rescind or claim compensation and if not substantial the purchaser is limited to a claim for compensation which must be ... ”

“ In the normal course of events settlement will be effected on the day nominated on the front page of the contract or pursuant to a notice given under a special condition relating to registration of a subdivision or other contingency. If the vendor fails to settle then it may be appropriate to issue ... ”

“ The submission of the transfer or conveyance might be argued to be an acceptance of title and so prudently might be made subject to replies to requisitions. At settlement the correct execution of the transfer needs to be verified. Having satisfied the mortgagee’s requirements and agreed rate ... ”

“ In reporting and accounting to the client it is often difficult for them to understand how rate adjustments work. The precedent explanatory sheet goes a long way to solving this problem. When finalising a matter it is important to terminate the retainer. This informs the client in writing that all ... ”