[
]An earlier posting mentioned that it was unlawful to L/O in QLD as it transgressed the RT Act. My take on that is that it is unlawful to use a QLD Residential Tenancy Agreement and a separate option to buy, as this forms conditions outside of that agreement. If you wish to LEASE a residential property (as you would a commercial property) there is not a problem with it. Valid?[xx(]Hey Mongrel,
(not sure if I should write that !!)
The advice my solicitor gave me is that the practice is not illegal just outside the bounds of the act and if something went wrong….who would the court support.
For me it was easier not to go there.Enjoy
AD [:0)]“A successful person is one who can lay a firm foundation with the bricks that others throw at him.”
-David BrinkHey,
I posted this days ago and only one reply. Many people have trhrown their two bobs worth in about where’s good to invest and where to stay clear of but harly anyone wants to answer the difficult questions.
This Q is core to L/O dealing in QLD and nobody only one person has commented.
Just a passing thought anyhow.
TC
Quote:Hey,I posted this days ago and only one reply.
This Q is core to L/O dealing in QLD and nobody only one person has commented.Just a passing thought anyhow.
Hi TC
I suspect that the only reason there are few replies is that no-one knows the answer!
In Qld most people use instalment contracts; in SA we HAVE to use L/O since instalment contracts are illegal for R/E.
Surely an option can be written that is separate from the regular lease – if there are no qualifying clauses in the lease the option would stand as a separate transaction?
Time for legal opinion?
You could also look at http://www.creativerealestateinvesting.com.au for info.Terry
FinanceHi Mongrel,
You can’t actually use a lease-option in QLD as the only person who can enter into this form of agreement is the government. You can however use aan ‘instalment contract’ which is essentially the same thing.
“Most people operate under a false ceiling which is 3 feet high” Stuart G Goldsmith
]An earlier posting mentioned that it was unlawful to L/O in QLD as it transgressed the RT Act. My take on that is that it is unlawful to use a QLD Residential Tenancy Agreement and a separate option to buy, as this forms conditions outside of that agreement. If you wish to LEASE a residential property (as you would a commercial property) there is not a problem with it. Valid?[xx(]
The topic ‘Lease Options in QLD – Legal?’ is closed to new replies.
