Forum Replies Created
Hi Brookelea
thanks for the information on John Sier – it seems all my peers are retiring – your other option is to contact the Law Society and get particulars of solicitors who are accredited in the property law area (who are closer to you) who may be able to help youthanks againHI there
I forgot to mention that the work is performed by a solid fill plastererthanksHi there E
you might like to start by looking at your own deed – if it has an index – all the better and look for the provisions which affect the appointment of the trustee – often there will also be provision for the guardian or appointor to regulate who becomes the new trusteeunfortunately there are no correct provisions – it is a matter of making sure it makes senseas I am in QLD – I can't suggest anything that is necessarily correct for WA – each state has slightly different property laws that can impact – and each state has Trustee legislation which can also impact on your Deed – you really need to speak with someone in WAif you have problems in getting a recommendation – speak to your Law Society – as each solicitor normally advises the society of the areas of law they practice in- you need someone who has the background in preparing those deedsHi there
I used to work with a chap called John Sier of Mason Sier and Turnbull in Mount Waverley – if he is still practicing – I am sure he will look after youthanksHi there Cata
just in relation to your comments with respect to a trust deed – I don't believe I have ever seen a trust deed whether discretionary trust, hybrid or superannuation fund which does not have a provision to appoint a new trustee – there are certainly different methods of appointment – but all have them – it would be unworkable to have a situation which potentially can run for 80 years without the ability to appoint a new trustee – as a trustee can give notice and decide not to act further.I am actually speaking from experience of 20 years as a legal practitioner who has in the past prepared deeds of appointment of new trustees, transfers to those new trustees and the documents required to satisfy the requirements of the stamp duties office in five different jurisdictions.The main problems with resettlements arise when the trust deed is changed is such a way that beneficiaries are changed or entitlements of those beneficiaries are changed – that normally will trigger the problems with the office of state revenueHi there
not sure what state you are in but you need to look at your contractI don't believe that a deposit needs to be in the form of a bank cheque – only the settlement cheques need to be bank cheques.I don't understand why they are insisting on a bank cheque unless there is a special condition to that effect – if they continue to be a problem – can your conveyancer talk them around or perhaps the real estate agent.Failing those approaches, you may need to make a complaint with the Law Society in your state – as a deposit bond is similar to a bank guarantee – perhaps the solicitor hasn't had much to do with them before?HI thereyou might like to review the above link which gives some good information on the GSTyou need to consider the situation of the vendor from whom you purchased the property to establish if you need to pay GSTthanksHi there
I'm not sure the Accountant is entirely correct to state there would be a resettlement and there would need to be payment of stamp duty on all trust assets provided all that is being done is an appointment of a new trustee – you should probably check with your solicitor in this contextyou normally have to prepare statutory declarations to the office of state revenue stating there has been no resettlementit does seem to be an unnecessary expense further down the track as any assets bought in the name of the wife – would have to have transfers to the new trustee company – which is an added expensewhy not have it the other way round – incur the expense of setting up the company – make a commitment to investment that make the costs of keeping the trustee company worthwhile and not have the later transfer costs and costs of satisfying any requirements of the office of state revenue – which could end up being equivalent – and also not have those queries over a possible resettlementthanksHi there
we are considering similar options for a 2 unit besser block unit we havewe have been recommended to use a process which is a type of rendering – dry fill rendering – which has been affectively applied to one of the other units in the blockthe option finishes can be smooth or like a sandpaper feelnot sure if that is of any usethanksHi there RP Brown
you still use the REIQ contract but you have special conditions which refer to the process you are going through to strata title the property so there is a chain of documents for the purchaser to see how ultimately he or she will get their strata titled property. I have actually seen the proposed contract attached to another contract – just waiting for the strata lot details to be incorporated – once all is registered – it is like an Agreement to Purchase once preconditions are met.Most solicitors in Toowoomba could do this for you – and it is in your interest for them to do so – as if there is any problems they are covered by professional indemnity insurance. Once the contract is set up – you can probably do the conveyancing yourself. I can recommend a solicitor in town if you want to contact me – having worked with a number of them over the years.
Hi there
its seems my post was lost with the crash but yes I agree with the above comments you need to speak with the insurance ombudsman, fair trading, A current affair and any one else who will listen
If you are in QLD – I believe the tone of the correspondence from the insurer amounts to a threat – accept our offer or get nothing – I consider that it would be a breach of the criminal code – as threats which result in a party acting in a particular manner to their detriment are prohibited – the insurer deserves a kick up the backside and all the adverse publicity you can muster
Hi there
I do think it depends upon the insurance company.
We had a situation after we lost 2 properties in the Canberra bushfire – we were not required to produce a written fixed term tenancy agreement (because we couldn't in one situation – because the lease had been negotiated – but not yet signed – and was actually in the property destroyed at the time.)
We directed the insurance company to our property manager concerning the other property where there was a fixed term agreement.
As for the terms of the lease agreement – most leases have a holding over clause – that states that similar provisions apply to a periodic lease – except that the rent may increase – if there is a written record of the agreement for an increased rent – surely that should be enough evidence for the insurer – and I would certainly be making complaints to the insurance ombudsman if they denied a claim in those circumstances.Hi there
people in other states may correct me if I am wrong – but I think it is only QLD that has on the Form 1 transfers and property information disclosed in the accompanying Form 24 that the property is being purchased by a trust – and actually identifies the name of the trust as well as the Trustee
I recall that in SA – if individuals were buying properties as trustees – they had to indicate that they were buying the property "with no survivorship" – to ensure there were no problems further down the track – and indicate they were acting as trustees.Hi there
I think you will find if a property needs to be sold due to a separation which is evidenced by an agreement between the parties which is recognised by the family court – you have a situation which allows a rollover of any CGT -see the link for the relevant circumstanceshttp://www.ato.gov.au/businesses/content.asp?doc=/content/22313.htm&page=12
Hi there
I have seen people enter into a lease agreement for a property with an option to purchase 12 months down the track – is that the sort of thing you are referring to?Hi there Jenny
we actually filled in a pool after the Canberra bushfires
what we ended up doing was using the space for a water tank
the only permission we needed was to have water from the pool go into the drainage mains
I would only think you needed an engineers report etc if the pool formed part of your retaining walls for the main building otherwise approach some of the builders in the area about clean fill
thanksHi there
don’t know what sort of computer you are using but microsoft power point have templates for a business plan that come with the software on the computer.
When I was advising some potential clients who were interested in purchasing a business, I suggested they start by reviewing those templates to put together their business plan – they ended up not purchasing the business BTWHi there
we had a similar problem when we lost properties in the Canberra bushfire – we needed to still have public liability insurance whilst the site was being cleared and before we could either sell our block or rebuild.
What ended up happening was we attached the insurance for our affected properties with the insurance for our principal home. Just wondering if you might be able to approach your insurer for your home with a similar query – if they are interested in keeping your business – they may come to the partyhttp://www.resortpublishing.com.au/Resort_News/index.php?Section=133&Article=479
thanks Simon – should have got back onto the topic but found the above link – it seems to refute the argument that you are limited to claim only the purchase value of the home
http://www.resortpublishing.com.au/Resort_News/index.php?Section=133&Article=479
thanks Simon – should have got back onto the topic but found the above link – it seems to refute the argument that you are limited to claim only the purchase value of the home
