May 11

Contracts – to read or not to read !

When helping our client Purchasers, a review of the Contract of Sale and Vendor’s Statement (Section 32) by Kelly and Chapman before signing will give you an understanding of what it is that you will be signing if your are the winning bidder.

Contract of Sale documents can be very complex by nature and should not be readily agreed to. In some cases, Contract negotiations are required and we can attend to this on your behalf or at least, direct you in which way to best move forward. In the event of an Auction Purchase, negotiation of the documents may not necessarily be possible therefore a review of the Contract and Vendor’s Statement documents becomes imperative.

We here at Kelly and Chapman will review these documents for your, prior to your Purchase, as part of our service. In some cases, this may be for 3 or more properties.

We will explain the context of Auction sales and Private sales (ie. sales not at auction) and will discuss with you what your contract is made up of and the main risks you need to look out for in a Contract of Sale and Section 32 for off-the-plan purchases and established homes.

To view more information about our Property Law service please click here

April 29

Important developments in the law of Family Provision

Significant amendments to the provisions regarding persons eligible to make Family Provisions claims commenced on 1 January 2015. It applies to the estates of all persons dying on and from 1 January 2015. The categories of possible claimants are wider than in the previous regime but it also excludes a number of claimants previously included.

Eligibility is limited to the spouse and children of the deceased and to the other limited categories. Those other categories include grandchildren, registered caring partners and members of the deceased’s household. For certain categories of claimant, considerations

April 24

Trading Names, Business Names, Company Names – Basics

Trading Names, Business Names, Company Names – Basics

A trading name was a name used by an entity or person to trade under, without it being registered as a business name.

Trading names were collected prior to 28 May 2012 by the Australian Taxation Office (ATO). They will be displayed on the Australian Business Register (ABR) until 31 October 2018.

You are still able to maintain the details of your trading name with the Australian Taxation Office for taxation purposes. However any updates will not be displayed on the ABR’s ABN lookup service.