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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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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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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The ACT Planning and Land Authority has lost a case in the ACT Supreme Court where the Applicant, Capital Recycling Solutions, sought an order that a decision to revoke planning approval was void ab initio – or for most of us that aren’t familiar with Latin – had at no time legal validity. This is …
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In the early hours of 14 June 2017, an intense fire tore through the Grenfell Towers in London. A statement issued in November by the London Metropolitan Police confirmed that 71 people were killed together with hundreds left homeless as a result of the blaze. Described as nothing less than a tragedy, the Grenfell fire …
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Taxes are always a contentious issue in the current property development landscape. They serve an important source of revenue raising for our Government and allow the construction of infrastructure, the implementation of education schemes, the assistance and benefit for those disadvantaged and a myriad of other Government initiates that generally improve the lifestyle of your …
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If you are the tenant or landlord of a retail or commercial lease, your lawyer probably required you to sign a Disclosure Statement prior to the commencement of the lease. You may be about to enter into a lease and have been provided with a Disclosure Statement. You may be wondering, what is this? Why …
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From 1 July 2016 it is a requirement of the Office of State Revenue to collect and report on transfers of freehold or leasehold interests in real property in New South Wales to the Commissioner of Taxation. The purpose of the reporting is twofold. Firstly, to establish a National Register of Foreign Ownership of Land …
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There is no denying that entering in to a new commercial or retail lease can be a costly and time consuming exercise for both the tenant and landlord. Once negotiations and signing of the lease are out of the way, further costs may arise in order to register a lease over the title of the …
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One of the main considerations for any proposed resident of a retirement village is the cost associated with residing in the retirement village. Here is a summary of the costs you may have to pay. Ingoing Contribution. An ingoing contribution is an amount payable by a resident to the operator of the retirement village to …
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