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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...
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...
Q. What is the difference between holding the property as Joint Tenants or as Tenants in Common? A. 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...
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,...
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...
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...
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...
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...
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...