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Conveyancing Fast Facts

If you are a “foreign person” under the provisions of the Foreign Acquisition and Takeovers Act 1975 (Cth) and you have been granted FIRB approval to purchase a property in Australia you need to ensure that the property is occupied or genuinely available for rent...

If you are a “foreign person” under the provisions of the Foreign Acquisition and Takeovers Act 1975 (Cth) you need to obtain and No Objection Notification from the Foreign Investment Review Board before entering into the Contract and notify the Department of Natural Resources and...

Coronavirus – COVID-19 Ownit Conveyancing have taken steps to implement policies and procedures to ensure that we are able to continue to represent our clients during this ever evolving health situation. Fortunately at Ownit Conveyancing we have current systems in place that will, if necessary, allow...

What is a Consumer Guarantees? In some instances the sale of property may include the sale of goods that have implied consumer guarantees. By law, implied consumer guarantees cannot be contracted out of. When buying and selling property it is important to consider whether any consumer...

What is a Certificate of Classification? A Certificate of Classification will set out the building classification for the property. When purchasing certain types of property (for instance a commercial lot) it is a good idea to obtain a copy of the Certificate of Classification so that...

Is it a good idea to make a Contract for Land subject to satisfactory Soil Testing? Yes! We would recommend that a Contract for the Sale of vacant land be made subject to satisfactory soil testing. Soil testing will allow a Buyer to determine what the...

What happens if the property is damaged before settlement? A Seller has an obligation to take reasonable care of a property until settlement even though the property is at the Buyers risk from 5.00pm on the first business date after the Contract date. If the property...

Can a Buyer rely on the Seller’s insurance policy cover even though the property is at the Buyer's risk? It is important that a Buyer obtains their own insurance for a property  on the first business date after the Contract date as the property is at...