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Succession Planning for Business Owners
As a business owner, you deal with many responsibilities, including having to decide what to do with your business when you move on. Sometimes the logical endgame for a business is to be wound up, but in most cases, the aim is a smooth transition to new ownership....
Commercial leases – responsibility for repairs and maintenance
A commercial lease is a legally binding contract that gives a tenant certain rights over a property for a set period of time subject to the terms and conditions set out in the lease. A commercial lease is used when leasing property used primarily for a business. You...
First Home Buyers Choice NSW – stamp duty v land tax
For most people, buying their first home is a huge challenge, both financially and personally. With the cost of the “average” home in New South Wales exceeding a million dollars, saving a 20% deposit is itself a substantial undertaking, usually requiring years of...
Modifying or extinguishing a covenant on your land
Understanding what a covenant is and how it affects your property forms an important part of the due diligence process for a conveyancing transaction. Covenants can also impact the way you wish to use or develop an existing property. Generally, there are two types of...
Understanding easements in your property contract
Identifying and understanding easements in a property transaction is an important part of the conveyancing process. Vendors are required to disclose all easements affecting the land they propose to sell in a property contract, and buyers should ensure they are aware...
Do you have a business partner? Then you need a Partnership Agreement!
A Partnership Agreement is a contract between all the partners in a business and outlines each partner’s duties and responsibilities, governs important matters that arise from the business, procedures for making business decisions and how to resolve disputes amongst...
Accessing digital assets – estate planning essentials
The untimely death (or purported death) of Gerald Cotton, former Chief Executive Officer of Canadian cryptocurrency exchange company, Quadriga CX, emphasises the importance of planning your electronic after-life. Mr Cotton’s death in India at the age of 30, not only...
Appointing a Solicitor as Executor of your Will
An executor is a person who will carry out the instructions in your Will once you have passed away. In general, you can appoint any person as executor of your Will, this includes solicitors. It is not uncommon for a solicitor to be appointed executor of a Will. The...
Options to renew in commercial leases – don’t get caught out!
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is usually in the interests of both...
No more paper title deeds – what you need to know about e-conveyancing
Settlements used to require lawyers and banks to meet up to check and swap documents and bank cheques. The documents had to then be lodged with the Land Registry Office and government authorities had to be notified about the transaction. The recently introduced...