Our conveyancing and property law team advise clients in relation to a range of legal matters, including the sale and purchase of both commercial and residential land, commercial and retail leasing, subdivisions, and both complex and simple property development projects.
What is conveyancing?
A conveyance is the transfer of legal title in a property from one person or entity to another, whether the property is residential, rural, commercial, industrial, or vacant land. A conveyancing transaction is often one of the largest financial transactions that a person will make, and it is accordingly critical that you obtain legal advice prior to signing any documentation, or agreeing to the sale or purchase of land, to ensure that you do not inadvertently compromise your interests.
Buying and selling property
Signing a contract for the purchase or sale of property establishes binding obligations between the parties. The penalties for defaulting on a contract can be significant, so it is important to understand the legal implications before entering into such arrangements. A typical conveyancing transaction progresses quickly, and while conveyancing is usually considered to be a simple process, there are many technical considerations which may not be obvious to individuals without legal expertise.
Common matters which we advise new or potential clients in relation to include whether:
- the purchaser understands precisely what they are purchasing;
- all necessary due diligence enquiries have been attended to or organised;
- the seller understands and (where possible) has complied with their disclosure and other obligations relating to the sale of property;
- legislative requirements have been met (such as pool fencing and local council requirements);
- the purchaser and vendor details in the contract are correct;
- the transfer of the property triggers other financial considerations such as capital gains tax, goods and services tax, land tax and stamp duty;
- there are any encumbrances which need to be discharged prior to the transfer of land;
- there are any leases or residential tenancies which need to be discharged or transferred;
- arrangements been made with any financiers and banks to ensure that loan funds are available as and when required, and mortgages will be discharged to ensure that settlement can occur on time; and
- the implications and penalties for a breach of the contract have been explained to each of the purchaser and vendor.
Our conveyancing team is experienced in all aspects of property law, including performing contract reviews, conducting necessary due diligence enquiries, and liaising with third parties such as conveyancers, property developers, financiers and governments agencies in relation to all aspects of commercial and residential property transactions. The complexity of such transactions can often be underestimated, and while most simple conveyances proceed without issue, those disputes that do arise can be complicated and expensive. Involving a lawyer helps to minimise risk and avoid some of the pitfalls associated with property transactions.
Commercial and retail leases
Commercial and retail leases set out the legal terms and conditions through which a business may occupy a premises. Whether you are a lessor or lessee, a lease agreement should be formally prepared and reviewed by an experienced property lawyer to ensure any compliance issues are addressed prior to execution, and that there is a balance of rights between the parties. Lease disputes may be minimised by having a well-drafted lease agreement with clear and expertly drafted terms in place, and by ensuring the parties obtain independent legal advice regarding their rights and obligations.
Property Development
The subdivision and development of land is governed by legislation, regulations, planning schemes and policies administered by local councils and other national or international government entities. Property development can be profitable, however is very complex, and requires that a series of laws, regulations and processes are complied with to avoid risk and costly mistakes.
Working with building professionals and an experienced property lawyer to satisfy due diligence enquiries, liaise with relevant authorities, and to prepare and explain titling and legal concepts is invaluable throughout any residential or commercial property development.
Our conveyancing and property law team provides practical and considered property law services for a range of matters, from conveyancing for residential property to more complex commercial transactions, commercial leasing, strategic advice to property developers, advice regarding property interests and the lodgement of caveats. We work with individuals, property developers, commercial clients, and financial institutions, and regularly provide agency services for interstate clients.
If you need any assistance contact one of our conveyancing and property lawyers at [email protected] or call 08 8212 1115 for a no-obligation discussion and for expert legal advice.