The following update has been released from the Australian Institute of Conveyancers Victoria (some notable deadlines have been underlined). It details information on the move to digital conveyancing or electronic conveyancing in Victoria. Transitioning to 100% Digital Conveyancing As we have been saying for a couple of years,...
You are not a bank but you decide to lend someone money...
PEXA is electronic conveyancing platform for use by conveyancers, lawyers, banks, purchasers and sellers of property. It replaces the traditional face to face conveyancing settlements. Apart from arranging settlements of purchases and sales, conveyancers and lawyers are now also able to lodge caveats using PEXA. The...
Recently changes were made to the law regarding identification requirements for entering into land transactions. These changes were designed to prevent fraud on titles and other financial transactions. This is especially important now that conveyancing can be done electronically. "Verification of Identity" is now required for...
1. Lease Cost Determine the monthly cost of the leased premises by multiplying the square metres of the premises by the price per square metre and then divide this number by 12. The resulting figure is the monthly cost. Negotiate rent free periods or a discount on...
A binding financial agreement or prenup as the casual term, is an written agreement between two parties setting out the assets, liabilities, property and other financial information of how it will be divided should there be a relationship breakdown. Binding financial agreements can be made before,...
The law of business leases The primary legislation covering retail leasing in Victoria, and for most shops and businesses - is the Retail Leases Act 2003 Vic (the Act) and the Retail Leases Regulations 2003 Vic (the Regulations). The commencement date for the Act and Regulations was...
What is the legal meaning of a deposit? The purpose of the deposit for a purchase of land contract- is to show that the purchaser is serious in completing the transaction. The deposit is usually paid at the time that the contract is signed by the...
What is an Occupancy Permit? An occupancy permit tells anyone interested in purchasing a newly built or renovated property that the property is suitable for occupation. Occupation of the home is not permitted until the certificate is issued: it is otherwise an offence. The occupancy permit is different...
Part 2 of Debt Recovery Series Checking What Assets and Income the Debtor has before you enforce your judgement SUMMONS FOR ORAL EXAMINATION (SOE) The SOE is best utilized if you have no information about the debtor’s financial position. If you obtained a judgement debt, on your...
WILLS AND FAMILY AGREEMENTS: WHAT CAN GO WRONG There are a significant number of generous parents these days who purchase properties for their adult children based on family "understandings" that are never recorded, only verbal. The agreement varies from family to family and can include arrangements anywhere...
The New Personal Properties Securities Act 2009 (PPSA) explained How can you check ownership of goods for business sale? What is PPSA? The PPSA is legislation which changes the way security interests in personal property are dealt with across Australia. The PPSA rewrites the law on traditional securities...
