The purchase of real property is an exciting time, and for most people, their largest investment. Whether it is the purchase of your first home, a business, or an investment property, or a lease, you are likely to have your agreement recorded in a written contract. It is important to know your rights and obligations when entering into a written contract.
We are a leading provider of conveyancing and property law services to the South Australian and Adelaide property market, with a reputation spanning over 20 years.
We can assist with:
- buying or selling residential property, units, and vacant land;
- off the plan sales and purchases;
- auction sales and purchases;
- the compiling and completion of a Form 1 Vendor’s Statement ;
- contract & form 1 review and advice;
- land divisions;
- business transactions;
- family transfers and deceased estates;
- commercial property and commercial leasing;
- lodging caveats;
- mortgages and refinancing; and
- advising on property ownership
What is conveyancing?
Conveyancing is the process of transferring the legal title of real property from one party to another. A conveyancing transaction typically moves very quickly, providing no room for error.
Entering a written contract to buy or sell property creates binding and enforceable legal obligations between the parties. Defaults can be significant so it is important to understand the implications and risks by getting legal advice before signing.
The transfer of real property can also trigger other financial considerations (for buyers and sellers) such as capital gains tax, goods and services tax, land tax and stamp duty. Consulting an experienced property lawyer before you commit to a residential property transaction can help protect your legal rights and may save you money and inconvenience.
The role of the conveyancer or property lawyer
Your conveyancer or property lawyer will review the contract and other legal documents to ensure you are aware of your rights and obligations, explain any special conditions and cooling-off rights, carry out due diligence searches and investigations, prepare and / or arrange for signing of transfer documents, prepare or check settlement statements and coordinate settlement of your matter in accordance with the contract terms.
The role of a conveyancer or property lawyer is to manage the administrative process and legal requirements for a conveyancing transaction. They will liaise with real estate agents, other parties’ lawyers or conveyancers, building inspectors, financial institutions and government bodies to ensure the terms of your written contract are effected.
Commercial and retail leasing
A commercial lease governs the relationship between a landlord (lessor) and tenant (lessee) regarding the lessee’s right to occupy premises owned by the lessor. Commercial leases are frequently the subject of legal disputes which often occur due to poorly drafted, ambiguous or non-existent lease agreements, and/or the failure of the parties to understand their rights and responsibilities under the terms of the lease.
A leasing arrangement is a valuable commodity for both the lessor (whose investment in the commercial premises must be adequately protected) and the lessee (who relies on reasonable terms and security of location to operate a business). Negotiations should be formally documented in complying written agreements with each party obtaining independent legal advice.
Retail shop leases in South Australia are governed by the Retail and Commercial Leases Act 1995 (SA). Apart from some exceptions, retail leasing laws generally apply to and regulate the leasing of premises situated in retail shopping centres. The laws aim to enhance consumer protection by stipulating minimum terms and conditions and limiting certain provisions that are deemed unreasonable. The legislation also imposes certain disclosure obligations upon a lessor.
We advise on all property matters, large or small, and perform bulk conveyancing work and land divisions. We have the capacity to manage a high volume of conveyancing work effectively and efficiently, meeting tight timeframes, while providing a high level of service to our clients.
Years of experience on large and small-scale projects, and our depth of knowledge and resources, means we can provide you with an efficient, value-for-money service.
If you need any assistance, contact one of our lawyers at [email protected] or call 08 8443 4888 for a no-obligation discussion and for expert legal advice.