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Q. Is it necessary to sign all of the pages of the Contract? A. Yes. Contracts in relation to land must be in writing and signed by all parties to the transaction. It is important that all of the pages of the Contract are initialed by all parties...
Q. Is the name of the Purchaser on the Contract really that important? A. Yes. It is extremely important that the name of the purchaser on the Contract is accurate at the time that the Contract is signed to avoid any stamp duty implications that may arise through...
Q. What happens if the present use of the property is not lawful under the Town Planning Scheme? A. If at the Contract Date the present use of the property is not lawful under the Town Planning Scheme then the Buyer may have a right to terminate the...
Q. What changes are being introduced in respect of Certificates of Title? A. From 1 October 2019, a paper Certificate of Title will become an item of historic or sentimental value only and will no longer need to be deposited with the Titles Registry when a transaction is...
Q. What happens when a Natural Disaster occurs? A. If a party cannot meet their obligations under a Contract due to a natural disaster the in certain circumstances time will no longer be of the essence. Related: What are the essential elements of a contract of sale on lands? Buyers Guide Sellers...
Q. What are Personal Property Securities? A. The Personal Properties Securities Act, 2009 (Cth) (PPSA) relates to security interests in personal property. The PPSA does not apply to land, buildings or a fixture that forms part of the land. It is important to note that when selling property...
Q. What is an Administrative Advices on Title? A. An Administrative Advice will show interests on title impacting on the land. There are numerous types of Administrative Advice that may be noted on a title such as an owner builder, heritage listing, vegetation clearing offenses etc. The Land...
Q. Are there any warranties given by the seller when selling their property? A. Yes. The standard REIQ Contract contains certain warranties given by the Seller of a property to the Buyer as to their capacity to complete the Contract, the correctness of the title, that there are...
Q. Is a Seller obliged to notify a Buyer of Body Corporate Notices? A. Yes. The Seller must notify the Buyer of any notices of Body Corporate meetings and any resolutions passed at Body Corporate meetings after the Contract Date. Where a Buyer is materially prejudiced by any...
Q. What happens when the property is suspected of having combustible cladding? A. On 1 October, 2018, Part 4A of the Building Regulation 2006 (Qld) (Cladding Regulations) came into effect. When an owner of a private building is selling their property which has cladding, the property owner is required...