Sale of Business and the PPS Act

11 September, 2013

1.  Introduction The sale of a business often includes the sale of personal property such as equipment, stock in trade and motor vehicles.  Practitioners for both vendors and purchasers need to understand what personal property is included in the sale and how the Personal Property Securities Act 2009 (Cth) (PPS Act) may impact on that […]

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Solicitor executors and their fees

18 March, 2013

Solicitor executors and their fees The issue of fees and charges a legal practitioner is entitled to charge often arises when practitioners act as executors of estates. The scenarios fall into the following categories: The will contains a clause entitling the practitioner to charge professional fees but is silent on claiming executor’s commission; The will […]

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Off-the-plan contract notices from 1 December 2012

18 November, 2012

The long awaited change to s9AA that will require a notice to consumers of off-the-plan sale contracts will come into operation on 1 December this year(1). The amendment (as set out in the Consumer Affairs Legislation Amendment (Reform) Act 2010 (Vic)) originally required that the notice be on the front cover of the contract. That […]

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Important changes to stamp duty on entity acquisitions in Victoria: What practitioners need to know

18 October, 2012

With effect from 1 July 2012, the Duties Amendment (Landholder) Act 2012 (the Amendment Act) made significant changes to the Duties Act 2000 (the Duties Act). In particular, the Amendment Act replaced the former land rich provisions with a landholder duty model. Practitioners need to take careful note of these changes. They significantly change the […]

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New stamp duty on leases!

5 August, 2009

The Duties Act 2000 (Vic) has recently been amended by the Duties Amendment Act 2009 (Vic). While the amending Act received royal assent on 7 July 2009, the changes take effect from 21 November 2008. For transactions that are affected by the changes and occurred between 21 November 2008 and 7 July 2009 there is […]

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Recent decisions affecting ‘off the plan’ sales

2 July, 2009

Recent decisions affecting ‘off the plan’ sales Sales ‘off the plan’ – sunset clauses for registration of the plan of subdivision must be for a fixed time, and cannot be extended For many years it has been commonplace for ‘off the plan’ contracts of sale to include clauses granting the vendor a reasonable extension of […]

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Water unbundling – beware!

1 December, 2008

It has been nearly 18 months since the unbundling of water rights in Northern Victoria was introduced.  The practitioners in the Goulburn-Murray irrigation district have experienced a huge learning curve in coming to grips with all the changes and implications for their clients.  Their counterparts south of the divide in the Southern Water and Grampians […]

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Advising on Reverse Mortgages and Other Equity Release Products

10 September, 2006

A paper for solicitors advising clients proposing to enter into reverse mortgages and other equity release products.

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Risk Management Checklist for Equity Release Products

1 July, 2006

Identify the type of equity release product involved – is it a reverse mortgage; a home reversion scheme; or a shared appreciation mortgage? Do not act if you are not completely independent of the lender. Recommend strongly that the client obtain independent financial and tax advice. Scope your retainer to exclude the giving of such advice unless […]

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