Real estate remains one of the largest investments most people will make in their lifetime. Getting advice from competent legal practitioners can make all the difference to protect your rights and ensure that your purchase or sale goes smoothly.

Selling your property

If you wish to sell a property, you will need a contract of sale and a vendor’s statement (section 32 statement) prepared. The contract includes details about you, your agent, your lawyer or conveyancer, as well as some property information, such as items included in the sale, the deposit required, and the sale price. The section 32 statement discloses certain additional information about the property and is required by law.

A contract for sale should be drafted with a complete understanding of the property being sold, and any special conditions included to accommodate your circumstances and protect your rights.

Buying a property

When buying a property, we recommend getting advice on the contract and section 32 statement before signing. The section 32 statement discloses additional information about the property such as particulars of any mortgage on the land, covenants or easements on the title, and any notices which may have been received by the vendor in relation to the property. 

It is important to obtain professional advice to ensure you understand your rights and obligations under the contract and the effect of any cooling-off periods. Your lawyer will usually recommend any additional enquiries to be carried out, so you know exactly what you are buying. A building report and pest inspection can reveal hidden defects, pests, and problems that may cost you money down the track.

We can help you make informed choices regarding your purchase and assist you throughout the entire conveyancing process.

Subdivision

Subdivision involves the process of dividing land into parcels which makes the land easier to develop or sell. Subdividing land can be complex, as there are many laws, regulations, and processes to step through before even starting the physical work on the land. Before commencing the subdivision process, you should consider the following:

• Are there any state legislation or local planning policies that could impact on your proposal for subdivision?
• Can the proposed new lots of land be appropriately serviced by utilities and other infrastructure?
• Can the land being subdivided sustain the increased use or development following the subdivision?
• In what ways, if any, does the subdivision affect existing buildings?

You will need to lodge the appropriate application if you want to subdivide your property. You will also need to apply for a planning permit from the local council for any developments you intend to undertake during and after the subdivision.

It is important to understand the overlap of the relevant laws and the processes required to achieve the objectives of your proposed development to minimise costly mistakes. Collaborating with an experienced property lawyer and surveyor to check off due diligence matters, liaise with relevant authorities, and to explain titling and legal concepts is invaluable throughout this process.

Commercial leases

Commercial leases set out the terms and conditions governing a tenant’s occupation of premises to operate their business. Many lease disputes can be avoided by having a well-drafted lease agreement in place that clearly outlines each parties’ rights and obligations.

Terms such as the leased area, amount of rent and rent increases, the duration of the lease, the permitted use, any fit-out provisions and renewal options should be carefully reviewed. There will almost always be a time limit on when a tenant can exercise an option to renew their lease which is usually expressed as a specific date or period of time. Generally, but not always, an option period may be expressed as three to nine months before the end of the lease term. It is important not to miss exercising an option as a landlord is under no obligation to offer the same renewal terms that were in the original lease, if at all once the option period has expired. 

We can assist with all areas of conveyancing and property law, including:

• Selling and buying residential and commercial property
• Auction sales and purchases
• Off-the-plan sales and purchases
• Property development and subdivisions
• Commercial and retail leasing
• Advice on ownership interests
• Advice on mortgages and securities

If you need assistance, contact [email protected] or call 03 9505 4999 for expert legal advice.