Buying a property can be an intimidating process, especially at an auction where you are competing with other buyers and there is no cooling-off period.
Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on the auction day.
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions.
Landlords are not obliged to offer a renewal option. However, it is often in the interests of both parties if they are interested in a long-term commercial relationship.
Building their own home is a dream for many people, but it can be a more intimidating prospect than simply buying an existing house. One of the first and most challenging steps is to find the right plot of land. Unfortunately, this task does not end when you find vacant land (a difficult enough task in many Australian locations). Before buying the parcel of land, it is crucial to understand the relative ease or difficulty involved in building on this land, as this can have a significant impact on the cost of the build.
A public liability claim is a potential entitlement to compensation for injuries or harm suffered in a range of circumstances due to the negligence of another person or entity.
While many people are unlikely to nominate estate planning aka “Thinking about what will happen to my assets when I die” as being on their “most wanted things to do” list in reality, this is something that should be on all our “must do” lists.
Client legal privilege, also known as legal professional privilege, is a fundamental legal principle recognised under both common law and legislation in Australia. This privilege protects the confidentiality of communications (both oral and written) between a client and their legal advisor. It is designed to promote the free flow of information between a client and their lawyer by ensuring that the client can freely disclose all relevant facts without fear of disclosure, and that legal advisors can provide accurate and effective advice without fear of reprisal.
Compulsory acquisition of land (also known as ‘resumption’) refers to the right of the Government or a delegated authority such as a local council to acquire privately owned land for specific purposes. Compulsory acquisition can impact homeowners, tenants, and businesses – anybody who has an interest in the property that is being acquired.
Buying a property with someone else is a great way to share the fun, stress, and cost of the venture. Often people buy a house with their significant other, to make a home or invest together. Others buy property with friends, relatives or business partners. Joining forces with someone else can increase your borrowing power, and pooling savings can bring a deposit within reach.
Many couples separate on good terms, which is great. The breakdown of a relationship can be difficult, however putting differences aside to move forward can be beneficial, particularly where children are concerned.
When renting business related property, it is important for both Landlords and Tenants to understand the relationship they are entering into and the rights and obligations that they each have. The document that governs this relationship is usually a Commercial Lease.