Subject to finance extensions – not what they appear

2 December, 2010

We have seen circumstances recently where extensions to ‘subject to finance’ clauses were misunderstood. Many subject to finance clauses provide for an ‘approval date’, being the date by which the purchaser’s loan must be approved. They also provide that the purchaser has two clear business days after the approval date to notify the vendor that […]

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Risk Management Seminars for 2011

2 December, 2010

LPLC will be running its Country Risk Management programme in May 2011. Brochures will be sent to country practitioners in March next year and will be available on the website at the same time. The dates are as follows: Wodonga, Thursday 5 May 2011 Shepparton, Friday 6 May 2011 Bendigo, Monday 9 May 2011 Mt Eliza, Friday […]

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Subject to finance extensions – not what they appear

2 December, 2010

We have seen circumstances recently where extensions to ‘subject to finance’ clauses were misunderstood. Many subject to finance clauses provide for an ‘approval date’, being the date by which the purchaser’s loan must be approved. They also provide that the purchaser has two clear business days after the approval date to notify the vendor that […]

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Disclosing unregistered easements

2 December, 2010

We have previously recommended that practitioners obtain and include in vendor statements s.239G certificates, now called ‘water information certificates’ (pursuant to s.158 of the Water Act 1989 (Vic)). This certificate has in the past disclosed any unregistered easements, drains or sewers affecting the property. A practitioner has brought to our attention the fact that some water information […]

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1 January 2011 start for Civil Procedure Act 2010 (Vic)

2 December, 2010

The Civil Procedure Act 2010 (Vic) will come into operation on 1 January 2011. It reforms civil proceedings conducted in the Supreme Court, County Court and Magistrates Courts, but not VCAT. It will apply to all civil proceedings in those courts that have commenced before and after 1 January 2011. The Act introduces the new concepts of […]

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