Category: Conveyancing & Property

Telemon Lawyers > FAQs > Conveyancing & Property

When can Legal Aid NSW register a caveat?

Firstly, a caveat (form 08X) is a warning that informs the public that someone has a priority interest in a property, and the party that lodges the caveat is the caveator. Secondly, an individual must have a ‘caveatable interest’ to lodge a caveat. So, under what circumstances can Legal Aid NSW be a caveator? Pursuant […]

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I have been served with a ‘Lapsing Notice,’ what do I do?

A lapsing notice is a form which once served on the caveator will cause a caveat registered on title to ‘lapse’ after 21 days of the service of the noticeunless orders are obtained from Supreme Court for an extension of the caveat. You must obtain those orders before the expiry of 21 days. Generally on service of a lapsing […]

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I’m purchasing a property, should I get a building inspection and white ant and borer report?

In the case of freehold, definitely, in the case of strata, it depends.

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I’m hoping to buy a Strata Title unit. What do I need to be careful about?

Maintenance and Repair Strata Title units and schemes have ongoing maintenance requirements like any property. The danger for purchasers is to understand that every owner through the Owners Corporation has an obligation under Section 106 of the Act to pay for the maintenance and repair of the common property. What constitutes “common property” is much wider […]

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What is a cooling off period and a Section 66W certificate?

You might hear an agent say in a private treaty situation that the vendor will only exchange if the purchaser provides a “66W certificate”. The request is a reference to Section 66W of the Conveyancing Act 1919. The agent is telling you that the vendor doesn’t want to exchange contracts with a purchaser who retains the […]

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The agent says I can sign the contract, only pay 0.25%, and can still get out of it if I don’t wish to proceed. Is it ok to sign?

The agent might be correct but as solicitors our advice is always don’t sign until you have had independent legal advice on the contract. If you have signed the contract, while you can rescind if a Section 66W certificate hasn’t been provided (and only before 5pm on the fifth business day and losing your 0.25% deposit) it […]

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I want to sell my house, what do I need to do?

When selling your home or investment property vendors normally engage two primary professionals: a real estate agent, and a solicitor (or conveyancer). Normally, if a vendor doesn’t have a regular solicitor, most vendors approach a real estate agent first. It is agreed that a professional and effective real estate agent is crucial if wanting to […]

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I am a vendor and a purchaser is asking me to accept a 5% deposit, what should I do?

It is common practice for vendors to agree to a ten per cent deposit ‘paid by instalments’, with five per cent paid on exchange and the remaining five percent paid on settlement. This practice was considered in Boyarsky v Taylor [2008] NSWSC 1415. In this case, the purchaser, Taylor, paid a five per cent deposit […]

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The vendor has left piles of rubbish on the property on completion. Does this constitute a breach of ‘vacant possession’?

Under the standard NSW Law Society contract for the sale and purchase of land when a property is sold in NSW it is given either “subject to existing tenancies” (where there is a leasehold tenant) or with “vacant possession”. Vacant possession is a term from the general law and not defined in NSW legislation. It […]

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What is the Foreign Resident CGT withholding tax regime?

What is the Foreign Resident CGT withholding tax regime? Any* contract entered into on or after 1 July 2017 for the sale of land for a market value of $750,000 or more requires a vendor to obtain and provide a “Clearance Certificate” to the purchaser otherwise the purchaser must withhold 12.5% of the purchase price and pay that […]

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