Buying a Property? Don’t Skip the Pre-Settlement Inspection
Purchasing a property is a significant undertaking. One crucial step in the process that should not be overlooked is the pre-settlement inspection. This involves the buyer inspecting the property just prior to completing the purchase.
What’s the Difference Between Parenting Plans and Parenting Orders?
A parenting plan is an informal written parenting agreement that includes parenting and care arrangements for children but has not been formally approved by the Federal Circuit and Family Court of Australia (FCFCA). Parenting orders (or consent orders) are written parenting agreements that have been approved by the FCFCA.
But what are the pros and cons for both parenting plans and parenting orders.
Fact or Fiction – Top 5 Myths About Family Law Property Settlements
Most people know someone who has been affected by a family breakup. It is usually a very stressful and emotional time where people are anxious about the divorce, the property settlement and the emotional wellbeing and care arrangements for children. Unfortunately, this is reflected in a great quantity of inaccurate statements, often regarded as fact by those in the community.
Why It’s a Bad Idea to Write Your Own Will
It is relatively easy to find a free Will template on the internet or a fairly cheap Will “kit” from a newsagent or online. There are also websites that have “data collectors” that take your information and create a Will for you seemingly without any legal expertise required. So, is it really a good idea to write your own Will?
What Happens When a Contract is Breached?
If you have entered a contract with another party, you are obligated to abide by the terms and conditions of the contract. Any failure to perform an obligation required by the contract, including if you don’t complete an obligation within a time limit set by the contract, will be a breach of contract.
If a breach of contract occurs, what happens next can depend on the type of term breached and other laws that might apply to the specific contract.
Do You Have a Business Partner? Then You Need a Partnership Agreement!
The relationship between business partners can deteriorate if they do not understand their duties, roles and obligations. This is why we recommend a Partnership Agreement for individuals operating businesses in partnership.
Transferring Property Between Family Members – Key Considerations
Transferring property between family members is a common practice, often driven by a desire to facilitate inheritance, support loved ones, or streamline estate planning. While the intention behind such transfers is usually rooted in familial bonds, navigating the legal and financial aspects of the process requires a practical and pragmatic approach.
Dying Intestate – The Perils of Not Making a Will
Without a Will, the finalisation (administration) of your estate could be left to somebody you would not wish to involve, and the distribution of your assets will be pre-determined by legislation. This is likely to be more stressful, complex and costly for your loved ones.
Your Family Law Matter – Keep it Off Social Media
Do you have a grudge with your ex? Think twice before airing it on social media!
Buying a Residential Property with Existing Tenants
The Australian real estate market offers an array of opportunities for investment. A common type of real estate investment is residential property with existing tenants. This can be an appealing option for various reasons, including the benefit of receiving rental income immediately after purchase. However, these types of properties also come with their own set of considerations.
When Can I Terminate a Contract?
Knowing when and how to terminate a contract is crucial for all business owners in Australia. Various reasons may justify the termination of a contract, such as breach by another party, frustration, mistake, and force majeure. However, terminating a contract is a serious step and may lead to unexpected and significant implications. Understanding the potential consequences, including liability for damages and ongoing rights and obligations, is essential.
The Benefits of a Non-Disclosure Agreement
An enterprise’s confidential information such as trade secrets, processes and key contacts are all valuable assets that should be protected during the course of a business’s commercial operations, negotiations and transactions. One effective tool for safeguarding confidential information is a Non-Disclosure Agreement (NDA).
Buying a Property at Auction – Things You Need to Know BEFORE the Auction Day
Buying a property can be an intimidating process, especially at an auction where you are competing with other buyers and there is no cooling-off period. Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on the auction day.
Family Law Reform – What You Need to Know
The Australian Parliament has recently passed significant changes to the Australian family law system aimed at ensuring that the best interests of children are at the centre of all parenting decisions.
These amendments aim to foster a more efficient, equitable, and responsive family law system by refining the legal framework surrounding parenting matters and facilitating improved information sharing.
Estate Planning FAQs
To help you to get started we have set out some of the most common questions that arise when considering planning for your estate.
Commercial Leases – Who’s Responsible for Repairs and Maintenance
A commercial lease is a legally binding contract that gives a tenant certain rights over a property for a set period of time subject to the terms and conditions set out in the lease. A commercial lease is used when leasing property used primarily for a business.
You should never sign a lease without understanding all of its terms and conditions.
Understanding Share Sale Agreements
Understanding share sale agreements is essential for corporate clients navigating the sale of shares in Australian businesses. Investors and entrepreneurs should familiarise themselves with typical provisions found in share sale agreements and be aware of important considerations and best practices in a share sale transaction. Seeking the guidance of an experienced lawyer is crucial in protecting their interests and achieving a mutually beneficial outcome.
How to Locate an Original Will
A Will outlines the deceased person’s wishes regarding the distribution of their assets but may also express their intentions in relation to the care of children and pets, and other critical instructions. Unfortunately, the location of this critical document is often not obvious, and locating the Will is frequently a considerable source of frustration for those administering the estate.
Buying Residential Property – Understanding Cooling-Off Periods
In the whirlwind of excitement that often accompanies the purchase of a residential property, it is still essential for buyers to be cautious. In most Australian jurisdictions, the law makes provision for a cooling-off period to allow home buyers to evaluate a decision made in the heat of the moment. These periods represent a crucial safeguard in real estate transactions.
Dealing with Deceased Estates – Executor Duties
After a person dies someone has to look after the assets of that person and pay the person’s debts. Although the person is no longer here, his or her affairs must be finalised and the person to finalise the affairs is appointed by the Will of the deceased.
Where a person is appointed by a Will, that person is called “an executor”.