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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What is a GAIC Recording?

2 December, 2010

The Planning and Environment Act 1987 (Vic) (‘the Act’) was amended by the Planning and Environment Amendment (Growth Areas Infrastructure Contribution) Act 2010 (Vic) on 1 July 2010. The amendments created new requirements for purchasers of certain land or owners undertaking subdivision or obtaining building permits on certain land to pay a growth areas infrastructure contribution (‘GAIC’). At this […]

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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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Purchasers who rescind must remember their caveats

2 December, 2010

LPLC has advocated in the past that practitioners acting for purchasers should lodge a caveat for their clients as soon as practicable. Many practitioners tell us that they do so as a matter of course unless the client elects not to. Practitioners need to remember to remove the caveat in the event that the purchaser […]

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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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