You may have heard the new Trust Act 2019 (“the new Act”) has recently been passed and comes into force on 30 January 2021. The Act applies to existing and new Trusts. If you have a Trust or are a Trustee, it’s really important you know about and understand these recent changes and how they affect you. The recent changes make trust law more
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Purchasing a property at auction – what you need to know
There are generally three ways in which you can purchase property. The first – the most common way – is by offer and acceptance of a signed Agreement for Sale and Purchase between the vendor (seller) and purchaser (buyer) of a property. The terms of the Agreement for Sale and Purchase can be negotiated between the parties, whether through a
What it means to be an Executor and Trustee in a Will
Often when people are asked to be the Executor of a Will they accept the role without truly knowing its parameters. While we don’t want to deter anyone from accepting the responsibility to carry out this very important role, you must understand what it entails. When a member of the family or a close friend asks you to be the Executor of their Will,
Sole Trader or Limited Liability Company? Here’s the differences
We often get asked by people setting up a new business, “What’s the difference between a sole trader and a limited liability company? A sole trader is a common ownership structure used to operate a small business. The main operator of the business may be one person, perhaps supported by a family member such as a spouse. The extent of the sole
What to know when building a house with a building company…
Building a house can be a stressful process. Before you get started, it’s critical you are aware of your rights and obligations and also those of the builder. Prior to engaging a builder, you should complete your own due diligence on the following: Research who the builder isDiscover what reputation the builder hasLook at other properties
Just what is a ‘caveat’ on my property title?
The word caveat is Latin and translates to “let him or her beware”. You may have seen the word pop up in relation to a property – that’s because a caveat can be lodged against someone’s property title to protect the lodging party’s right or interest in the property, and it prevents the registered owner of the property from selling, mortgaging, and
