From 1 March 2020, a sunset clause in a residential off the plan contract must include the statement set out in s 10F (1) of the Sale of ...

The Property information form TA6 has been updated. The changes are in relation to Japanese knotweed, flood risk, radon and septic tanks.

By Russell Cocks First published in the Law Institute Journal Contracts for the sale of land are known as executory contracts, as there is a

Relevant commentaries on Capital Gains Tax also include the upcoming changes to Private Residence Relief and Letting Relief. Also remember from April 2020 capital gains tax on the disposal of residential land is payable within 30 days of completion. Private residence relief is available for the years the home was owner occupied plus the last 18 months, even if not occupied by the owner. This 18 month period is reducing to 9 months from April 2020. Where part or all of the property has at some time in the period of ownership been let as residential accommodation letting relief is available. However from April 2020 letting relief will only be available where the owner is also living in the property.

With the LIV contract not currently available through LEAP, the By Lawyers Contract of Sale of Land is available to all LEAP users

By Russell Cocks, Solicitor First published in the Law Institute Journal Phillips v Abel is significant as it continues the march of the Ret

In response to the criticism levelled at the profession for failing to adequately advise buyers of the distinction between freehold and leasehold titles to residential property, By Lawyers have produced a brief appreciation that can be sent to clients with their initial letter. You will find the precedent ‘Enclosure - A short explanation of the important distinction between freehold title and leasehold title’ on the purchase matter plan.

Land tax Victoria - Absentee owner surcharge The land tax surcharge where applicable to Victorian property increases from 1.5% to 2%

Land tax NSW - Increases to threshold values. Land tax thresholds are indexed to rise on 1 January each year.

In order to further enhance communications between practitioners and their clients we have added to the initial letter an informative summary of the conveyancing process. This easy to follow chart is a step by step explanation of the process from the point of view of both the seller and the buyer. The matter plan provides letters for each step of the process, informing the client, the agent and other interested parties that the transaction has advanced to that stage.

Significant changes to off the plan contracts commenced 1 December 2019.

By Russell Cocks, Solicitor First published in the Law Institute Journal Contracts for the sale of land often present a discrepancy between

Requirements for a transfer by direction have been relaxed in SA. A recent Revenue Ruling SDA009[V2] states that, unless additional conside

In response to a subscriber request, By Lawyers have published a New Build Contract for Sale. We would welcome any feedback subscribers might have.

By Russell Cocks, Solicitor First published in the Law Institute Journal Avoiding off the plan contracts is a common topic for this column.