Conveyancing & Property Law
Property law concerns the rules governing the rights of ownership and interests in real estate and personal property. More often, it involves the sale, purchase, and transfer of land, property subdivision and development, commercial leasing, and sometimes the resolution of disputes over property. We can assist in all these areas.
Conveyancing
Conveyancing is the process of transferring legal title in property from one party to another. Property transfers may be triggered by the sale or purchase of real estate, a family law property settlement, or disposals/acquisitions between family members, trusts or corporate subsidiaries.
Buying residential property in New South Wales typically involves three stages – pre-purchase investigations, exchange of contracts, and preparations leading to settlement.
Buyers should carry out due diligence to ensure that the property meets their expectations – some issues may not be evident from physically inspecting the property. You should understand the implications of any interests on title that will remain with the land once it is transferred (for example, easements or rights of way) and ensure that buildings are compliant.
Pest and building reports can provide valuable information on the state and condition of the buildings and flag potential issues. The contract should be carefully reviewed to ensure the conditions are suitable and your obligations can be met. You should also understand any stamp duty and GST implications.
Whether you are a new home buyer or a seasoned investor, we will make the conveyancing process as seamless as possible and answer your questions promptly so you can make informed decisions. We can explain your rights and responsibilities under the contract, recommend additional searches and investigations to help protect your interests, and guide you through the entire process.
When selling residential property in New South Wales you need a written contract available for prospective purchasers. The contract must contain certain disclosure documents which generally include, but are limited to, a title search, plan of the land, a planning certificate from local council and drainage diagram. Vendors must also provide certain warranties about the property they are selling and may need to disclose additional information in the contract.
We can explain your obligations as a seller and prepare a compliant contract that is also tailored to your needs. Once a buyer is found, we will liaise with their representative, your agent and bank to ensure a smooth settlement.
Ownership Interests in Property
When buying a property with another party, you will need to decide how your interests will be held. Property owned by spouses or domestic partners is usually held as joint tenants however this may not aways be ideal. The circumstances of each party should be considered in light of their family dynamics, testamentary wishes and other matters that could impact their legal interests.
Property held as joint tenants is held as a whole – the interests cannot be apportioned into specific shares and the joint tenancy is subject to the survivorship provisions. When one co-owner dies, their share automatically passes to the remaining owner/s. It cannot be left to anybody else, even if a deceased owner’s will provides otherwise.
Property held as tenants in common can specify the individual shares held by each owner which need not be equal and may be transferred, sold, or left to a beneficiary in a will.
It is important to obtain legal advice regarding property co-ownership to prevent unintended outcomes in estate planning, protect interests and minimise potential disputes down the track.
Our lawyers are experienced in drafting and reviewing commercial leases, including special conditions, to ensure that your rights are protected, and the lease covers a range of contingencies that are often not contemplated by the parties.
Property development generally involves the improvement of land for profit. Whether your project is for the subdivision of one lot into two, or multiple lots for development, there are many legal and financial matters to consider.
Property development is governed by legislation, regulations, planning schemes and policies administered by local councils and other government bodies. It is important to understand the overlap of the relevant laws and the processes required to achieve your project’s objectives and minimise costly mistakes.
Collaborating with an experienced property lawyer and other professionals to check off due diligence matters, liaise with authorities, and to prepare and explain titling and legal concepts is invaluable throughout this process.
If you need assistance, contact one of our lawyers at [email protected] or call 02 9181 4777 for a no-obligation discussion and for expert legal advice.