Conveyance duty or stamp duty is tax that is payable when you purchase a property in the ACT. Conveyance duty is assessed on the dutiable value of the property and the obligation to pay duty is subject to the type of transaction and the circumstances of each buyer. The Duties Act 1999 (ACT) exempts certain …
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If you do not have a Will, now is a great time to make one. A Will sets out what is to happen with your estate after you die. To ensure your estate ends up with who and where you want, you may need to have a valid Will. Give the team at Griffin Legal …
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The ACT is following in the footsteps of other Australian states and working toward an electronic conveyancing system. It has been on the horizon for months, with the implementation of gradual measures to make the transition, including identity verifications and the removal of requirements for original signatures on documents. So what could e-Conveyancing mean for …
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The NSW Government have temporarily suspended requirements for documents to be witnessed in person, in light of COVID-19. Legislation passed last week (Electronic Transactions Amendment (Covid-19 Witnessing of Documents) Regulation 2020) allows certain legal documents to be witnessed by way of audio visual link. This means that NSW residents no longer need to leave their …
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This article explains some key concepts in property – some general and some unique to Canberra. Joint tenants: This is where two or more people own title to land together. If one person dies, the title is automatically passed to the surviving party or parties. The proprietors own 100% of the property together, so all …
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Connections and relationships are formed in the property sector all the time. It is part of regular practice for those working in the real estate industry to refer clients to other members of the industry for relevant services. However, where a real estate agent receives a benefit for referring their client, whether a buyer or …
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There are many changes to the laws and regulations commencing over the next 6 months. Here we summarise some of those key changes: PROPERTY Some lucky buyers will no longer have to pay stamp duty on properties purchased in the ACT. Stamp duty has been abolished on properties sold in the ACT from 1 July …
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Things are changing in NSW… Buying off the plan can be an exciting time for a homeowner or investor. The shiny brochures always promise so much and provide an image of an amazing new building, a piece of heaven for you to invest in. A purchase off the plan can lead to a great financial …
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Problems with property development have been a hot topic the last six months, and an issue we do not expect will go away anytime soon. Unfortunately, often enough we are asked to assist clients who have purchased off the plan or who represent body corporates in dealing with defects. Here are some practical tips for …
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