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On 1 October 2020 Certificates of Classification were renamed to Certificates of Occupancy. A Form 11 Certificate of Occupancy contains various information regarding the class and permitted use of a building, fire safety and any other building requirements. Any valid Certificate of Classification issued before...
Following recent highly destructive weather events the question arises as to what the rights of a Buyer are when a property is damaged due to a weather event? It is important to remember that under the terms of the Queensland REIQ Contract the property is...
Q: What if at the Contract Date the present use of the property is not lawful under the town planning scheme? A: This information must be disclosed to the Buyer in the Contract, failure to do so may allow the Buyer a right to terminate the...
Residential pools on common property are generally the responsibility of the Body Corporate. Prior to signing the contract, the Seller should obtain a copy of the Pool Safety Certificate from the Body Corporate. If there is no Pool Safety Certificate for the Body Corporate then...
There are certain matrimonial exemptions from the payment of transfer duty for transactions pertaining to the Family Law Act 1975 (Cwlth) and the Property Law Act 1974 (Qld). If the transaction fits the exemption criteria then the transaction will be exempt from transfer duty. We want...
It is a legal requirement in Queensland that any property built after 1992 must have an electrical safety switch. If the home was built prior to 1992 and does not have one the Buyer must have one installed within 3 months following settlement. We want to...
In order to claim the first home, vacant land concession Buyers must be at least 18 years of age. The Office of State Revenue can, on the application, make an exception to this rule on a case by case basis depending on the individual circumstances...
At Ownit Conveyancing we are able to assist clients to attend to the verification of their identity via electronic means taking the hassle and fuss out of clients trying to find a suitable witness in the community to assist with this process! Here at Ownit Conveyancing,...
Q: Is there any impact of the amount of duty payable by a Buyer where a buyer buys more than one property?A: Yes. In Queensland the amount of transfer duty payable increases with the increase in the amount of the purchase price. If it can...
Q: Is there a threshold amount for First Home Vacant Land?A: Yes. In Queensland, the First Home Vacant Land Concession only applies to land valued at under $400,000.00. We want to assure everyone that here at Ownit Conveyancing we are ‘business as usual’ and that we...