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<link>https://www.lanneconveyancing.com.au/blog/econveyancing_120s32</link>
<title><![CDATA[EConveyancing]]></title>
<description><![CDATA[Electronic conveyancing known as Pexa, has now been introduced and can be of great benefit to clients resulting in them saving on fees. 
]]></description>
<content><![CDATA[Electronic conveyancing known as Pexa, has now been introduced and can be of great benefit to clients resulting in them saving on fees. 

Vendors using this service have the advantage of having immediate access to their cleared settlement funds rather than having to wait 3-5 days for a bank cheque to clear.

We are fully trained in the Pexa system and can offer clients this option for settlement.
]]></content>
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<pubDate>04 Apr 2017 01:17:00 GMT</pubDate>
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<link>https://www.lanneconveyancing.com.au/blog/nominations-in-real-estate_120s31</link>
<title><![CDATA[Nominations in Real Estate]]></title>
<description><![CDATA[Sometimes people who purchase a property are unable to attend at the signing of a contract. Or, sometimes only one member of the purchasing party is on hand for the signing. Or even sometimes they wish to nominate their super fund or company as the purchaser, down the track.
]]></description>
<content><![CDATA[Sometimes people who purchase a property are unable to attend at the signing of a contract. Or, sometimes only one member of the purchasing party is on hand for the signing. Or even sometimes they wish to nominate their super fund or company as the purchaser, down the track.

This is particularly so when a purchaser&rsquo;s advocate is employed to negotiate the purchase of a property, with the view to nominating the actual purchaser, or purchasers, at a later date. In these instances the nomination takes place in what could be described as &lsquo;innocuous circumstances&rsquo;, in that the purchaser is not seeking to gain a profit, they simply want to adjust the purchase to better suit their purpose.

These nominations are done via way of &rsquo;nomination documents&rsquo; which are prepared by the purchaser&rsquo;s solicitor, or conveyancer, and signed by both parties involved in the s ale of the property. It is the responsibility of the nominated purchaser to satisfy the State Revenue Office, by statutory declaration, that no additional stamp duty is payable.

There has always been a Common Law right to nominate independent of any contractual right. These rights exist in tandem, and either may be relied upon. A purchaser remains liable under a nominated contract, the nominee merely being permitted to exercise the purchaser&rsquo;s rights. An &lsquo;assigned contract&rsquo; results in the nomine standing in the place of the purchaser, and signs the contract.

A nomination does not require a new contract, unless the purchaser is relying on a contractual right, and the contract conditions requires one.

With nominations, the vendor can enforce the contract against the original purchaser. Any notice of default must be served on the purchaser. In practice, it may actually be served on both the original purchaser and the nominated purchaser.

Some contracts have purported by way of special conditions inserted into the contract, that the vendor will charge legal costs to a purchaser if there is a nomination. This is, in fact, unenforceable under s42(3) of the Property Law Act.
]]></content>
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<pubDate>31 Mar 2017 00:16:00 GMT</pubDate>
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<link>https://www.lanneconveyancing.com.au/blog/why-should-i-lodge-a-caveat_120s30</link>
<title><![CDATA[Why Should I Lodge a Caveat]]></title>
<description><![CDATA[Section 89 of the Transfer of Land Act allows a person claiming any estate or interest in land, to lodge a caveat on the title. But what does this mean?
]]></description>
<content><![CDATA[Section 89 of the Transfer of Land Act allows a person claiming any estate or interest in land, to lodge a caveat on the title. But what does this mean?

In this context, a Caveat is a restriction upon the sale of the property. It is a written notification telling us that someone has a legal interest on the property, who may have a priority over the legal rights of anyone else looking at becoming the owners of that property.

The case of Black v Garnock is an example of the risks involved in NOT lodging a Caveat. Garnock agreed to buy a farm for $1 million. A deposit of $100 000 was made and contracts were exchanged. Settlement was to take place on August 24, 2005 at 11am.

What Garnock did not know was the vendor owed close to a quarter million dollars to its firm of accountants.

A day before settlement, the accountants took out a writ of execution in the District Court, and the Sheriff was instructed to seize and sell the property to pay money owed to the creditors. The writ also stopped the buyer from registering the Transfer of Property.

More information about this case can be found online, however suffice to say, the buyer&rsquo;s creditor checked the title search at 9am on the day of settlement and found nothing wrong. It was only later in the day that the writ was enforced. Garnock could not get his transfer registered.

The registered mortgagees were paid out, and what was left went to Garnocks vendor. The accountants would not take their writ off the land until they too were paid by Garnock.

If a Caveat had been in place for Garnock, they would have been protected from their vendor&rsquo;s debt.

There are other reasons a Caveat can be lodged, other than the purchase of a property. They include:


	An estate for life
	A Leasehold estate
	Interest as a charge
	Interest as a lessee (tenant)
	An interest under an option to purchase


You need to keep in mind that often it is wise to lodge a Caveat. The cost of one is minimal compared to the cost if something goes awry.
]]></content>
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<pubDate>28 Feb 2017 00:15:00 GMT</pubDate>
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<item>
<link>https://www.lanneconveyancing.com.au/blog/beware-of-internet-only-conveyancing_120s29</link>
<title><![CDATA[Beware of Internet Only Conveyancing]]></title>
<description><![CDATA[When choosing a conveyancer over the internet it is important that you review their website and their qualifications and what professional bodies they belong to. 
]]></description>
<content><![CDATA[When choosing a conveyancer over the internet it is important that you review their website and their qualifications and what professional bodies they belong to.  We had a case where a client chose someone from the internet who failed to ever contact them.  Settlement time passed and the client was not able to contact this conveyancer either via email or telephone.  They just never replied. 

The purchaser was served with a Notice of Rescission which incurred penalties for late settlement and legal costs and put him in danger of losing his deposit and the property.  His broker suggested he should find another conveyancer immediately.  Although settlement date had passed we were able to assist him to complete in the time frame of the Rescission Notice.

As it turned out the vendor&rsquo;s bank could not settle on time so the purchaser&rsquo;s penalties and legal costs were waived as we were in a position to proceed to settlement prior to the date of Rescission.

It is prudent to note from conveyancing websites if the conveyancer is a member of the Australian Conveyancing Association, a member or associate member of the Law Institute and/or Institute of Legal Executives.  All licenced conveyancers are answerable to the department of consumer affairs but if they are also members of one or all of the previous mentioned associations it is fairly safe to assume that you will experience a relative stress free transaction.
]]></content>
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<pubDate>31 Jan 2017 00:10:00 GMT</pubDate>
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