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Understanding Planning Permits – Victoria
In Victoria, local councils are responsible for issuing planning permits which are typically regulated by planning schemes. If you are unsure as to whether you need a planning permit for a project, you should contact your local council or engage a planning professional to determine whether you require a planning permit for your development. What […]
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Changes to stamp duty for spouse transfers from 1 July 2017
The 2017/2018 Victorian Budget has made substantial changes to land duty and tax payments in a bid to make the system for housing affordability more equitable. New home buyers and investors need to be aware of changes to the duty now applicable to certain property transfers. Part of the Budget changes include the abolition […]
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Take care when buying a property ‘Off the Plan’
The term “buying off the plan” usually refers to purchasing a property that is not yet registered as a separate lot with the government department responsible for land title registrations, or not yet built. Buying off the plan can refer to the purchase of a block of vacant land that is part of a […]
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The law of Easements
Many people have heard of an easement, but what is it? In general terms, it is a right to use property belonging to someone else. Ordinarily, we think of property rights as sacred – why should anyone else be able to use my property? However, an easement is an exception to the usually sacred […]
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Take care when buying a property off the Plan
The term “buying off the plan” usually refers to purchasing a property that is not yet registered as a separate lot with the government department responsible for land title registrations, or not yet built. Buying off the plan can refer to the purchase of a block of vacant land that is part of a subdivision, […]
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Buying a property at auction – Things you need to know BEFORE the auction day
Buying a property can often be an intimidating process, especially at auction where you are competing with other buyers and there is no cooling off period. Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on the […]
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Traps to Avoid when buying a Property – pre contract inspections
Buying a home is the biggest investment or financial outlay that most of us will make in a lifetime. It is critical to your financial future that you make well-informed decisions when you purchase a property, whether it be for your own home or an investment. The Contract for Sale of Land basically follows the […]
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Verification of Identity in property transactions
Verification of Identity (VOI) is a process used to confirm the identity of a person. The VOI process is essential in land and property dealings as it helps to reduce identity theft and land title fraud. Verification of Identity practices include confirming a person’s capacity to act as agent for a company or as an […]
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E-conveyancing the way of the future
For the past 150 years when completing a property settlement it has been necessary for lawyers and banks to meet up to check and swap documents and bank cheques. The party that ended up with the documents then had to lodge them at the Land Registry and notify government authorities about the transaction. Many of […]
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Avoiding conveyancing traps
Conveyancing is the process involving the transfer of legal title of real property from one person to another. The conveyancing process is designed to ensure that the buyer obtains good and marketable title to the property together with all the rights that run with the property and is notified of any restrictions or rights in advance of their purchase. For […]
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