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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...
Q: Is there a transfer duty concession in Queensland for Buyers purchasing a property as their home? A: Yes! In Queensland, a Buyer can claim a concession for transfer duty when acquiring a property as their home. The "Home Concession" rate applies to the first $350,000.00...
Q: Is it necessary to amend the title to a property when the owner of a property has passed away? A: Yes, the title to a property needs to be amended following the passing of the property owner. The title to a property cannot be transferred...
Under the Body Corporate and Community Management Act 1997 (Qld) there are certain implied warranties that the Seller is deemed to have given to a Buyer. If there are matters that should have been disclosed that are not, then the Buyer may have a right to...
Under an "Off the Plan Contract," the Lot does not exist at the time of Contract therefore the Standard ADL or REIQ Contract is not suitable for use when selling the Lot. A specialized "Off the Plan" type of Contract is the most appropriate type...