The relationship between a landlord or residential premises and his or her tenant is tightly regulated by theResidential Tenancies Act 1997 (ACT). What is a residential tenancy agreement? A residential tenancy agreement will arise when a person gives someone else the right to occupy certain premises for use as a home in exchange for value. …
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When buying or selling a business, it is critical that the parties to the transaction consider any lease in place for the premises from which the business trades. In selling the business, the seller is not automatically absolved of liability to the lessor under the lease. If the purchaser does not propose to continue to …
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Since our last article addressing the ‘Mr Fluffy’ Loose Fill Asbestos Buyback and Demolition Scheme (the Scheme) the surrender process has begun. Deeds of Surrender have already been issued for the buybacks due to settle before Christmas. What is the process for those who have elected to participate? Affected homeowners may accept the ACT Government’s …
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This week the ACT Government announced that it will offer to buy back the 1,021 Canberra houses contaminated by ‘Mr Fluffy’ loose fill asbestos insulation under a programme called the Loose Fill Asbestos Insulation Eradication Scheme. The announcement follows a report by the Asbestos Response Taskforce which recommended that the demolition of affected homes is …
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The High Court recently had to consider whether a builder owed a duty of care to subsequent investor-owners of part of a building. In Brookfield Multiplex Ltd v Owners Corporation Strata Plan 61288 [2014] HCA 36 the Court unanimously held that a builder did not owe a duty of care to an owners corporation to …
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When buying and selling residential properties, it is important to consider the possible tax implications on buyers and sellers before the contracts are executed. Goods and Services Tax (GST) GST is not applied when you sell a residential property that is your main residence. When buying an existing residential property, the sale is input taxed …
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On 28 February 2014, Justice Refshauge of the ACT Supreme Court handed down his decision in Acton Investments (ACT) Pty Limited and Momac 2 Pty Limited v Frank Batticcotto, Luigi Batticcotto and Sarina Batticcotto [2014] ACTSC 31 (“the Acton case”). The case determined the consequences of not attaching a document (“Required Document”) specified in the …
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The interest in “off-the-plan” properties is ever increasing and is becoming more popular for buyers. An off-the-plan purchase is one where the Buyer enters into a contract to purchase a property that has not yet been constructed. Due to the prolonged settlement period for an off-the-plan purchase it is imperative for buyers and sellers to …
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