March 14, 2023 · Mingqiang
If parents claim that property gifted to a couple was a debt after their relationship breaks down, a gift deed can provide legal proof of the ownership transfer. The transfer is generally irrevocable once the deed is executed, and both parties should sign it.
March 9, 2023 · Mingqiang
An off-the-plan resale does not qualify as a new home simply because it has not settled or been occupied. This affects overseas buyers’ eligibility to purchase and access to the First Home Owner Grant, which also has status, residence and price conditions in NSW.
March 3, 2023 · Mingqiang
Property settlement after divorce covers debts and overseas assets as well as real estate. Courts identify and value assets and liabilities, consider both parties’ financial and non-financial contributions, then assess fairness. Each party needs a lawyer from a different firm when signing a settlement agreement.
February 28, 2023 · Mingqiang
Buying property in NSW involves different arrangements for private treaty, auction and off-the-plan contracts. Exchanging signed contracts requires the full deposit, usually 10% of the price less any amount already paid. Auctions have no cooling-off period, while strata purchases also involve owners’ rights and obligations.
February 24, 2023 · Mingqiang
Beneficiaries who do not want an inheritance can sign a legal document with the executor to refuse it, allowing the executor to pass it to the next eligible beneficiary. Refusal requires a deed and cannot occur before the testator dies or after the gift has been accepted.
February 23, 2023 · Mingqiang
Buyers from New Zealand, Finland, Germany and South Africa purchasing residential-related property in NSW or owning land as individuals are exempt from surcharge purchaser duty and surcharge land tax. Overseas persons from these countries can also obtain refunds for either surcharge paid on or after 1 July 2021.
February 17, 2023 · Mingqiang
When buying a second-hand car in NSW, dealers must disclose information affecting the transaction, including major modifications, flood or hail damage, deregistration and odometer tampering. Private sales must provide clear title but do not carry a dealer guarantee, so buyers should be aware of the difference in protection.
February 16, 2023 · Mingqiang
When drafting a contract or agreement, consider the risks of ambiguous wording and missing terms. Online templates may be unsuitable or outdated. You can draft contracts yourself, but we recommend consulting a lawyer and addressing terms and special circumstances clearly and completely, without ambiguity.
February 10, 2023 · Mingqiang
A spouse’s infidelity does not entitle you to more property in an Australian divorce. Property settlement weighs financial and non-financial contributions, future needs and marriage length. Applying for divorce requires proof of irretrievable marriage breakdown, with at least 12 months’ separation and no prospect of reconciliation.
February 9, 2023 · Mingqiang
Under NSW’s Shared Equity Home Buyer Helper, eligible applicants can buy with a deposit as low as 2%. The government contributes according to property type and holds matching equity. Participants still bear purchase and ownership costs, must remain eligible, and share sale gains or losses proportionately with the government.
