Property Law

CATEGORIES
Residential Reform - New REIQ Residential Contracts Released
Residential Reform - New REIQ Residential Contracts Released 04.07.24 On June 7, 2024, updated editions of the Contract for Houses and Residential Land (19th Edition) and the Contract for Residential Lots in a Community Title Scheme (15th Edition) were released. These new editions introduce several significant changes that buyers, sellers, and agents should be aware of, particularly concerning the recent rental law reforms introduced by the Queensland Government. In this article, our commercial and property law team examines the newly published REIQ contracts and their impact on the rights of parties going forward.

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The Trustee’s Dilemma: Balancing Duties with Discretion 01.02.24 Establishing a trust structure can offer various benefits, such as minimising taxes, protecting assets, and enabling control over the management and distribution of property and/or assets. Being assigned the role of a trustee in a trust signifies that someone has entrusted you with significant responsibility and confidence. In this article, our commercial and estate teams explore the utilisation of trusts, the responsibilities of trustees, and the recently examined duty of trustees to exercise "real and genuine consideration" when executing their powers.

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Widening The Net – Significant Changes To The Scope Of Unfair Contract Terms Under The ACL 20.07.23 New legislation coming into effect later this year will significantly expand the scope of unfair contract term provisions under the Australian Consumer Law (ACL). These changes, coupled with stronger enforcement measures, will profoundly impact consumers and businesses. This article delves into the current unfair contract term regime, upcoming changes, and their implications. In light of these developments, seeking legal advice and conducting contract reviews become crucial steps for businesses to mitigate the risks associated with the new unfair contract term provisions.

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Selling Property After A Divorce Or Separation: A Guide 07.07.23 Selling a property after a divorce or separation requires careful consideration. Clear communication and cooperation between both parties are essential. Seeking legal advice helps protect your interests and ensures fair agreements. Understanding property rights and obligations is crucial, as is obtaining an accurate property valuation. Choosing a selling strategy that aligns with your needs can streamline the process. Addressing financial obligations and agreeing on the division of proceeds are key aspects. Emotionally, it's important to seek support and navigate the healing process. At Ramsden Family Law, our experienced lawyers can guide you through this challenging process, providing the necessary expertise and support.

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Sunset Clauses – A Developer’s Dream And Buyer’s Nightmare 19.06.23 Sunset clauses in property contracts put first home buyers at risk in a competitive market. This article discusses the issues and upcoming law reform. A sunset clause allows termination without penalty if settlement doesn't happen by a specified date, leaving buyers with losses and no recourse against developers. The Queensland Government proposes limiting sunset clauses in off the plan contracts to protect buyers. Developers can only invoke the clause after the Sunset Date with buyer consent, a Supreme Court order, or other prescribed situations. These changes offer more protection in an uncertain market.

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Selling Your Home In A Falling Market - Tips For Property Owners 14.04.23 With property prices declining due to interest rate hikes, commercial property owners must exercise caution when selling their properties. The Commercial team at Ramsden Lawyers provides valuable insights on what sellers should be aware of to prepare for prospective sale contracts and safeguard their interests during negotiations.

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Time For Change – Queensland’s New Property Law Bill 23.03.23 Property law in Queensland will soon see landmark changes, with the nearly 50-year-old Property Law Act set to be replaced. To learn more about these changes and what they will mean for you, continue reading.

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Queensland’s New Mandatory Seller Disclosure Scheme 03.02.23 What you need to know about Queensland’s New Mandatory Seller Disclosure Scheme

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The Practical Effects Of The Queensland Econveyancing Mandate 11.01.23 Are you aware of the practical effects of the Queensland E-Conveyancing Mandate? From February 2023, Electronic conveyancing (or eConveyancing) will become mandatory in Queensland. To find our more about the eConveyancing mandate continue reading.

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The Court’s Priority to Small Property Settlements 27.04.21 The Federal Circuit Court of Australia prioritises small property settlement claims by introducing a swift and cost effective Court process - PPP500 List.

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Lottery Winnings and Property Settlements: Who gets what? 19.04.21 Have you or your partner won the lotto and have since commenced separation or divorce? Not quite sure how your winnings will be divided in a property settlement? The Ramsden Lawyers team explores how lottery winnings are dealt with in a property settlement to give you a better understanding about what to expect.

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How to Sell a Rented Property or End a Tenancy Agreement? 18.03.21 If you are selling a property that currently has tenants, or wanting to end a tenancy agreement, there are certain steps need to be taken and minimum notice periods that apply. However, there are also simple measures that can be taken to avoid complicated situations and help reach a solution that works best for both the owner and tenant.

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