Chattel or Fixture?
Q. How do I know whether the item is a fixture or chattel? A. The difference between a fixture and a chattel depends on whether the item is affixed to the land or property. If the item is affixed to the land or property then ordinarily the item will be regarded as a fixture. If the […]
Rights of Terminating Contract If the Buyer does not pay Initial Deposit or Balance
Q. Can a seller terminate a contract if the buyer does not pay the initial deposit or balance deposit by the due date? A. Yes. If the buyer does not pay the initial deposit or balance deposit to the Stakeholder by the due date then the seller has an ongoing right to terminate the contract of […]
Joint Tenants or Tenants in Common?
What is the difference between holding the property as Joint Tenants or as Tenants in Common? When two or more people are buying property together, they must decide whether to hold the property as joint tenants or tenants in common. Joint tenancy is a method of owning property that allows all buyers to have their […]
Terms of contract following settlement
Q. After settlement can the terms of the contract still be enforced? A. Certain provisions of the contract can be enforced after settlement. Essentially any term of the contract which can take effect after settlement will remain in force. That means provisions in the Contract regarding warranties, adjustments of outgoings, payments to government bodies and […]
Completion Dates that Fall on a Non-Business Day
Q. If a condition date falls on a non-business day (eg. Sunday) is the condition date due on the prior Friday or the coming Monday? A. When any condition of a contract falls due on a weekend or public holiday then the due date is automatically extended to the next business day. […]
Tips to Avoid Delays during the Christmas Period
Q. After settlement can the terms of the contract still be enforced? A. Certain provisions of the contract can be enforced after settlement. Essentially any term of the contract which can take effect after settlement will remain in force. That means provisions in the Contract regarding warranties, adjustments of outgoings, payments to government […]
What does Time of the Essence mean?
Q.What does a contract mean when it states “Time to remain of the essence” in Queensland contracts? A. “Time of the essence” means that a party to a contract must perform its contractual obligations under the Contract by a specific date and time. Failure to act within the time required constitutes a breach of contract […]
GST Withholding Law
Q. What happens if the GST Withholding sections are not completed correctly in the contract? A. Buyers and sellers are required to provide the correct information to enable the GST Withholdings section to be completed. The buyer and seller can obtain the correct information required to complete the clause in the Contract from their Tax […]
A Basic Guide to Conveyancing in Queensland
When you want to settle down in a certain place, you will need to buy something big as a land or a house property. Of course, everybody wants to have a concrete proof of his/her ownership. This is also applicable to corporations or businesses purchasing real estate properties. As simple as it sounds, it’s actually […]
