Victoria

When purchasing ‘off the plan’ (i.e. where titles have not yet registered for the property), there may be statutory and/or contractual timeframes that exist allowing one or more parties to terminate if settlement has not occurred by a set date, known as the ‘sunset date’. Across Queensland, New South Wales & Victoria the legal position […]

When purchasing a property, it is important to consider, not only the upfront costs, but the ongoing costs associated with owning property. One such cost is land tax. Land tax is a state-based, annual tax calculated on the aggregated taxable value of all land owned by an entity in a particular state, either solely or

Whether you are buying in Queensland, New South Wales, or Victoria, we have listed the top six tips to help you secure your dream property. 1. BUILD THE RIGHT TEAM Purchasing a property is stressful and tiring and you want to know that you have the right team of professionals on your side. We recommend

Transfer duty (also known as stamp duty or, in Victoria, land transfer duty) is a state tax charged when purchasing property in Queensland, New South Wales and Victoria. Before purchasing a property, it is important to know what transfer duty your transaction will be subject to – it is often a sizeable figure and should

When purchasing residential property in Queensland, New South Wales or Victoria, significant additional taxes may be payable if the buying entity is deemed foreign. We’ve set out a break down below of what constitutes a foreign entity across the states and the implications. Queensland What is a foreign corporation? A foreign corporation is one that

Whether you are selling in Queensland, New South Wales, or Victoria, we have listed the top five tips to ensure your sale goes smoothly. 1. SPRUCE UP YOUR PROPERTY Before you bring valuers and agents through a property, ensure it is presented in the best possible way. This may mean completing any repairs, de-cluttering, having

Australia might be one country, however there are substantial differences when it comes to the law around property transactions across the States. 1. WHO PREPARES THE CONTRACT OF SALE In QLD, contracts are drafted by agents and while against our advice, parties often sign a contract without it being reviewed by a lawyer. In NSW,

As part of the contract negotiations, you may have agreed to let the seller rent back the property for a period of time following settlement. How this arrangement is formalised will depend on how long the seller will rent back the property. 28 DAYS OR LESS For a rent back of 28 days or less,

It is always crazy how quickly Christmas lands on our doorstep each year. At MAP Lawyers, we need to be very conscious when we are approaching the Christmas period as there are a number of items that can impact our clients. New South Wales AND Victoria In New South Wales and Victoria, the definition of

To save you time, money and stress, we have set out below the top errors to avoid when selling a home. #1 Rushing into signing the contract You’ve got an offer for your property and want to get the contract signed as soon as possible. However, it’s important to check a few critical items before