Witnessing documents is now possible by video link! Special measures for witnessing documents previously witnessed in person have been introduced due to COVID-19. The COVID-19 pandemic saw much of the world working remotely or behind closed doors. With the implementation of social distancing rules and our general desire to minimise contact with others meant that witnessing documents in the usual […]
Read morePosts Categorized: Conveyancing
COVID-19 and the Local Court
COVID-19 has affected our courts with matters adjourned for lengthy periods to reduce numbers attending court. As we are all aware the strict restrictions put in place due to COVID-19 has caused major disruptions to every part of our lives. The court process and the criminal justice system have not been immune. Many matters have been adjourned for lengthy periods […]
Read moreWhat happens if you die before paying off your mortgage?
Do you own property with a mortgage over it? What happens if you die before paying off the mortgage? Picture this: You bought a house on your own in your young, single days and took out a mortgage. You have recently married the woman of your dreams. However, you are now having concerns as you want to ensure she gets […]
Read moreAre you nervous about your house contract completing because of COVID-19?
You could be concerned about how COVID-19 might impact on you buying or selling property. You could be thinking: Is now the right time to buy? Will my contract protect me if I buy a house today? During these times, with lives lost and job losses, it is normal to feel worried and anxious. Throw in buying or selling a […]
Read moreSELLING A NEW HOME – changes to legislation
Are you a developer? Legislation has changed in respect to the sale of new homes. In addition to normal contract requirements, an off the plan contract must include: A completed disclosure statement; A draft plan prepared by a registered surveyor, and Other draft documents, as set out in the new clause 4A of the Conveyancing (Sale Land) Regulation 2017. A […]
Read moreGST law change for the purchase of new residential properties
Tax Laws have changed from 1 July 2018. What is the new Tax Law? Purchasers of new residential properties, where the vendor is registered for GST, are required to pay a portion of the purchase price directly to the Australian Tax Office (ATO) on or before settlement of the purchase. How much GST is payable? The purchaser will be required […]
Read moreHow binding are electronic contracts?
Electronic contracts are becoming more frequent in both business and personal use. There are a number of ways an electronic contract can be executed: • Clicking a checkbox to acknowledge agreement. • Typing yes or I agree in a form online. • Signing a document with a stylus or your finger. • Using a facility such as DocuSign to electronically sign a document. These […]
Read moreThe transfer of property and stamp duty
At Sheridan Legal, we often get asked about the transfer of property (as opposed to the sale) between related parties. It’s possible to do a transfer of property from one party to another. One major cost that you will usually have to pay is stamp duty. However, there are a few situations where stamp duty is exempt (or at least, […]
Read moreDIY Conveyancing
Whether you are buying or selling, there are a number of pitfalls to DIY Conveyancing. DIY Conveyancing is where you decide to act for yourself, rather than paying for a professional service. The sale or purchase of a property is likely the largest financial transaction that you will experience during your lifetime. It is best that this transaction is left […]
Read morePurchasing real estate “off the plan”
What does buying “off the plan” mean? Often, buying off the plan means that the land hasn’t been subdivided yet. The developer will have plans in place, but the subdivision won’t be registered. An “off the plan” purchase may include the construction of a house. This is usually referred to as a “house and land package”. The contract will include […]
Read more