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GST changes for new residential properties
Property Law
The Commonwealth Treasury has released an Exposure Draft of the Treasury Laws Amendment (2017 Measures No. 9) Bill which proposes a new goods and services tax (GST) withholding regime for new residential premises or new subdivisions of potential residential land as announced in the 2017-2018 Federal Budget.…
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Adverse Possession – former laneways
Property Law
Reports in the Preston Leader of Reservoir property owner, Greg Goldenberg gaining title to a discontinued laneway under adverse possession laws demonstrates that successful outcomes are possible despite the need to tiptoe through a legal minefield (click here for the article). The law of adverse…
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Concerns over privatisation of Land Use Victoria
Property Law
Rob Bradley spoke to Judy Ann Steed on community radio 3MDR today on behalf of the Law Institute of Victoria on the subject of the proposed privatisation of Land Use Victoria or “LUV” (the Office of Titles). He said that the Institute and its members…
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Proposed changes to Residential Tenancies Act
Property Law
The Andrews Government this week announced changes to the Victorian Residential Tenancies Act 1997(Vic) (“Act”)aimed at giving tenants greater powers, information and security in relation to residential renting arrangements. The changes come as a result of the Government’s review of the Act. Some of the proposed…
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Building Insurance – Oh what a tangled web we weave
Property Law
There is a wonderful scene in the film “A Beautiful Mind”, where Alicia, the wife of mathematician John Nash stumbles into a shed, the walls of which are covered with snippets, parcels of information joined by a spider’s web of inter-connected threads, linking one idea…
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More Covenants Varied
Property Law
Aitken Partners has successfully applied for the variation of two single-dwelling restrictive covenants affecting a double-block in Altona. As a result of an Order of the Supreme Court made on 4 November, the client is now free to apply for a planning permit to erect…
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Land Tax for Filled and Potentially Contaminated Land
Property Law
VCAT Review of Assessment When industrial land is known to have been filled in an uncontrolled manner over many years and there are concerns that it might contain some contaminated material, to what extent should its value be reduced? That was the question that confronted…
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New Vendor Section 32 Statements
Property Law
Amendments to the Sale of Land Act require changes to be made to the form of and information contained in Vendor Statements required to be given to purchasers before the sale of real estate. The changes commenced on 1 October 2014. Check List If the real estate…
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Property War Stories: Check off the plan duty calculations and save
Property Law
99.9% of clients accept that when purchasing ‘off the plan’ there will be a (stamp) duty saving. Only a few check the amount of the saving when settlement comes around. A recent Aitken Partners’ file demonstrates the advantage of doing so. Client purchased an apartment…
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They widened the Road
Property Law
The purchase of a development site on the fringe of Melbourne suburbia provides another example of a ‘simple, straight forward’ purchase needing the input of an experienced and diligent lawyer to prevent things going horribly wrong. The property concerned had major roads on two sides.…
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What lies beneath
Property Law
Sometimes lawyers are asked to step in at the last moment to help purchasers who have not sought proper legal advice before committing to the biggest purchase of their lives. One instance that comes to mind was the purchase of a property down the Peninsula. The…
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Property Wars: Keeping an Eye on Duty
Property Law
There are times when clients focus only on getting the deal done. Afterwards they can become acutely aware that there are (stamp) duty consequences if a deal is done the wrong way. Involving a lawyer in the deal making process can often be cost-effective. Introducing…
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Property Wars: Is anything missing and if so, what?
Property Law
Documents in property transactions are not overly complicated or sophisticated. Normally they can be read and understood by anyone patient enough to plough through them. In many cases however, understanding what is there is only half the challenge – you also need to know what should be…
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East West Link: Please take (at least some of) mine
Compulsory Acquisition, Property Law,
Statements attributed to the Premier that, “We will be fair and compassionate in dealing with people who are affected” and “We want to make sure they are properly and fully compensated” are to be applauded. They also lead to scepticism – who exactly are the people…
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Evicted from your own ‘Home’
Property Law
The plight of a Richmond couple reported by the Herald Sun on Sunday May 12 (Council bans couple from living in $1.85m converted Richmond warehouse) highlights the extreme risks that purchasers take if they try to cut corners when buying property. Buying and selling property are…
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