Tag: General Property and Leasing

Quick answer: Transferring property in Tasmania takes three steps: complete a Transfer form from the Land Information System Tasmania (LIST), submit it to the State Revenue Office for stamp duty assessment, then lodge the stamped Transfer with LIST along with the Certificate of Title, Notice of Sale, lodgement form and fees. Duty exemptions may apply […]

This article discusses the unilateral severance of a joint tenancy:  what it is, when to do it and why and how a joint tenancy can be severed. But first:  joint tenancy – what is it? When you co-own real estate with another person/s, you can nominate to hold as:- Joint tenants; or Tenants in common. […]

Quick answer: A guarantor is a person or company that agrees to cover a loan, lease, or contract debt if the original party defaults. Guarantors must be over 18 with sufficient financial capacity, and independent legal advice is required before signing, particularly for bank guarantees under Clause 28.4 of the Code of Banking Practice. Guarantees […]

Quick answer: A co-ownership agreement for a boat or aircraft should set out how costs, from purchase price to insurance and storage, get split between owners before money changes hands. It also needs an exit strategy, such as a right of first refusal if one owner wants to sell their share. Putting these terms in […]

Back to Part 1 How does the PPSA affect you? Before the PPS (Personal Property and Securities) Act, the finance company would not have been able to enforce security in the caterpillar equipment.  This is summarised by that most ancient dictum, “you can’t give that which you don’t have”.  Now, however, it seems that this […]

Quick answer: A lease vs licence comparison comes down to possession. A lease grants exclusive possession of the property and creates a legal interest protected under state tenancy laws, while a licence only gives non-exclusive personal permission to use the space. Licensees get far fewer protections, and the owner keeps access and control the whole […]

Prospective landlords often believe that trusting a property manager to oversee their investment property is the best course of action. But hiring a poor property manager can be a risky move if they turn good tenants into nightmare tenants.  There are three good reasons why a poor property manager is a risk to your sanity […]

Are you thinking about investing in property with family or friends? There are some great reasons to invest as a team.  Pooling your resources can:- get you started in the property market; increase your buying power; increase your borrowing capacity; widen the knowledge, skills and expertise you have access to; reduce your overheads such as […]

Quick answer: To transfer property in NSW, you complete a Transfer form from Land and Property Information, send it to the Office of State Revenue for stamp duty, then lodge the stamped form, Notice of Sale, Certificate of Title, fee, and any Discharge of Mortgage back with LPI. Exemptions can apply for financial agreement or […]

Quick answer: Renting a car parking space works through a car park licence agreement, which sets out payment, duration, and who is responsible for damage or loss. If you own a residential space, check with your strata manager first, since renting it out can affect building insurance, and always get the terms in writing before […]