Property Law
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Adverse Possession - Getting what you're paying for?
13 Jul 2010 Posted by Rob BradleyRob Bradley has been interviewed by Domain in The Age on the concept of adverse possession.
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Owners Corporation (2-lot Subdivisions) - Insurance and the Sale of Land Act 1962
27 May 2010 Posted by Rob BradleySection 11 of the Sale of Land Act 1962 states that a person cannot sell a lot affected by an owners corporation unless the vendor or the owners corporation has a current insurance policy in accordance with the Owners Corporations Act 2006 for any insurance required by that Act to be effected by the owners corporation.
Due to the compliance exemptions contained in section 7, for 2-lot subdivisions there are no requirements for reinstatement and replacement insurance or public liability insurance.
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When can you apply the 'Margin Scheme'?
25 May 2010 Posted by Rob BradleyThe Tax Laws Amendment (2008 Measures No 5) Act 2008 significantly impacted on the operation of the margin scheme. In particular, the changes concerned supplies of property that was previously supplied GST-free due to going concern concessions or farm land concessions.
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Insurance Exemption for 2-lot subdivisions
23 Apr 2010 Posted by Rob BradleyCertain insurance exemptions exist for 2-lot subdivisions under section 7 of the Owners Corporations Act 2006.
These include:
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Owners Corporation Certificate for 2-Lot Subdivision
15 Apr 2010 Posted by Rob BradleySection 32(3A) of the Sale of Land Act provides that if the land if affected by an owners corporation, the vendor must attach to the vendor’s statement a copy of the owner’s corporation certificate and a copy of the documents required to accompany the owners corporation certificate under 151(4)(b) of the Owners Corporations Act. Further, section 32(5) provides that where such required information is not provided, the purchaser may rescind any contract for the sale of the land.
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Duty on Leases
2 Oct 2009 Posted by John McKellRecent amendments to the Duties Act 2000 have now imposed duty on certain leasing transactions. The amendments became law on 7 July 2009 with retrospective effect to 21 November 2008.
Duty is now chargeable on the granting of any lease for which there is consideration other than rent and usual property outgoings. If a tenant pays the landlord a premium to obtain the lease, a transfer of a lease, an option or right of first refusal to purchase the land, duty is chargeable on the amount paid or the market value of the property whichever is the greater.
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Adverse Possession
28 Sep 2009 Posted by Colin BridgesOccupation of land without the consent of the owner for a long period may enable the occupier to obtain a legal title to the land.
Possession is 'adverse' when the owner has been expelled by a trespasser which may be established by proving that the occupier has had exclusive possession of the land in an obvious way.
A common example occurs when fences are constructed outside the title boundary and remain in such location for over 15 years.
Aitken Partners has extensive experience in successful claims for land by adverse possession.
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Options to Renew - notification by Landlord
24 Sep 2009 Posted by Stephen MauleThe Retail Leases Act 2003 requires a landlord to notify the tenant of any right to renew the lease. Failure to give the tenant such notice results in the lease provisions continuing until six months after such notice is received by the tenant.
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