Who Draws Up a Contract of Sale of Real Estate?
The contract of sale is a legal requirement prepared by a qualified lawyer or licensed conveyancer. This legal document formalises the sale of real estate in Australia. Its legalities, however, vary between states and territories. Can a real estate agent draft your contract of sale instead? How long does this usually take? Keep reading the […]
Can I Cancel a Property Sale Contract After Signing?
A buyer or seller can cancel a real estate contract, even after it has been exchanged and signed, in rare circumstances. However, there are rules and obligations to follow when terminating a signed property sale contract. Here’s what you need to know. When Can a Buyer Cancel a Signed Property Sale Contract? A property buyer […]
Can a Power of Attorney Sell a Property in Australia?
A power of attorney is a legal document authorising a person or organisation to make legal and financial decisions on your behalf. The powers under a power of attorney includes buy and sell properties in Australia. However, you might be asking this: why do I need a power of attorney in the first place? More […]
What is the Difference Between a Conveyancer and Property Lawyer?
Buying or selling a property in Victoria is a crucial financial decision. To ensure a hassle-free transfer of ownership, enlisting the services of a conveyancer or property lawyer is advisable. But which legal professional should you engage with? Conveyancers are experts in simple property transactions, like preparing relevant conveyancing legal. Property lawyers can provide more […]
The Basics of Resolving Leasing Disputes in Victoria
In a perfect world, both landlord and tenant follow the lease agreement to a T. In reality, this is not always the case. So what can you do when reality strikes? What are the common causes of leasing disputes? Both landlords and tenants can be guilty of starting a disagreement or dispute. It’s important to […]
What You Need to Know About Section 27 or Release of Deposit
Generally, the deposit is approximately 10% of the purchase price and is paid immediately or as specified when you sign the contract of sale. The deposit will generally remain in trust until settlement or once the property transaction is completed unless a section 27 release is served. What is a Section 27 Deposit Release? In […]
Dealing with Debt: A Guide for Creditors on Insolvency
The definition of when a company goes insolvent is when it is unable to pay its debts as they fall due. The Corporations Act 2001 has an ambiguous definition of insolvency. Under the Corporations Act, it does not include all the examples of what it means when you are unable to pay your debt as […]
A Guide to Litigation Terms You Need to Know
Legal professionals often use jargon or technical terms, so it can take a while for both clients and lawyers to be on the same page. If the client is a larger business, the directors may already understand the legal process courtesy of either an in-house counsel or just going through court in the process of […]
What is Insolvent Trading in Australian Law
In Australia, business entities and companies, are generally governed by the Corporations Act 2001 (the Act). One of the Act’s primary purposes is to set out the obligations of the company, its executives, and its members. A breach of these duties could result in civil liability, and in some instances, criminal penalties. What is insolvent […]
Secured vs Unsecured: How Business Loans Work
While business loans often finance the initial expenses of a startup, they can also be used for relocating and/or growing your business. Similar to a personal loan, business loans can also be secured or unsecured. Common types of business loans When choosing a loan, it’s important to check the cost, interest rates, hidden fees, terms […]
What is a Franchise and How Does it Work?
Franchising is an option to consider if you want to expand your business’ reach. For a fee, the business owner or franchisor authorises a franchisee to sell their goods and services for a specific period of time. You benefit as a franchisee from the goodwill established with the name and normally there is assistance or […]
Protect Your Business: Understanding Trade Marks in Australia
What is a trade mark? A trade mark is a sign used, or intended to be used, to distinguish goods or services dealt with or provided in the course of trade by a person from goods or services so dealt with or provided by any other person (s.17 of the Trade Marks Act 1995 (Cth) […]