Conveyancing & Property Law
At BMA House Lawyers, our primary expertise lies in wills & estate planning, administration, and resolving disputes. Naturally, this leads us to handle associated conveyancing and property transactions. We take pride in adopting an all-encompassing approach, preferring not to outsource this aspect of the law to external third-party conveyancers or legal agents. With our dedicated team, you can trust us to bring your matter to its final conclusion. Whether you need to sell property for estate funds distribution, purchase property for expending your inheritance, or simply require assistance in any conveyancing or property law matter, Igor and his team are here to provide expert guidance and support.
Buying and Selling Property
Once you enter a binding contract to buy or sell property there are strict deadlines and requirements to be met. Breaching a contract term or failing to carry out due diligence can have heavy legal and financial implications. Although conveyancing can be a little stressful, with the assistance of a lawyer, you will probably find the process relatively uneventful, provided you take advantage of your lawyer’s expertise and don’t sign anything without understanding your legal position. We can explain your rights and responsibilities under the contract, the implications of any cooling-off rights, and guide you through the entire conveyancing process.
If you are buying property, the principle of caveat emptor (buyer beware) generally applies. This means you need to understand your legal obligations and research the property before contracts are exchanged.
The contract and disclosure documents will provide detailed information about the property, however some matters are not obvious from the contract and/or a physical inspection of the property. Due diligence involves the relevant investigations to confirm matters such as the suitability of the property for its intended purpose, and that the structures are sound and compliant. Council reports and pest and building inspections can help identify potential issues.
If you are selling residential property in New South Wales, you have specific obligations to meet and will need a written contract prepared before marketing the property for sale (written contract before marketing – such condition applies only to residential properties). The contract will need to include prescribed disclosure material which we can obtain for you. We can prepare your contract, explain your rights and responsibilities as a vendor, help you with any special conditions to protect your interests and liaise with your agent and the buyer’s legal representative from negotiation through to completion.
We will complete your transaction online, which removes the location barriers of traditional physical settlements, and provides faster access to your sales funds.
Commercial and Retail Leasing
A commercial lease sets out the terms and conditions through which a tenant occupies commercial premises to run its business. The lease agreement should ensure a balance of rights and responsibilities between the tenant and landlord and cover a range of contingencies that could arise throughout the term of the lease.
Retail leases are governed by specific legislation which provides certain protections for retail tenants and imposes disclosure obligations on the landlord. It is important for landlords to understand these obligations and ensure that the lease negotiations and terms of the agreement comply with the legislation.
A well-drafted agreement with clear terms puts the parties on the same page at the beginning of the relationship and can help avoid disputes down the track. Each party should receive independent legal advice and ensure that they understand their rights and obligations under a proposed lease, which may be negotiated by their respective lawyers. We can assist with drafting, reviewing, and negotiating the terms of a proposed lease agreement as well as lease renewals, transfers, assignments, and sub-letting.
Property Ownership Interests
The way that legal interests are held in property between co-owners is an important consideration when it comes to asset protection, succession, and estate planning.
When you hold property as joint tenants, the interests are held as a whole and cannot be separately apportioned. Joint tenancy is subject to the rules of survivorship. If a co-owner dies, their share passes to the surviving property owner/s – the deceased owner’s interest in the property cannot be left to someone else, even if a Will stipulates otherwise.
Property held as tenants in common can specify the individual shares held by each owner which need not be equal and may be transferred, sold, or left to a beneficiary in a Will.
Complications and disputes concerning property can be triggered by changing circumstances – a relationship or business breakdown, financial stress, or the death of a co-owner. Legal advice on your ownership interests, whether you are buying or already own property, can help plan for such issues and minimise disputes and unintended consequences down the track.
Property Development
If you are in the business of property development, you would know that properly drafted contracts are essential to ensure that a project goes smoothly. This can be complicated, keeping in mind the different skill sets and parties that you will need to engage with to complete a project. However, careful planning and advice at the outset can prevent costly disputes in the future. If you need some advice on a proposed development, and the various agreements you may need to have in place, we can help.
If you need assistance, contact [email protected] or call 02 9233 3050 for expert legal advice.