Attention All Off-The-Plan Vendors of Real Estate: Important Changes to Sunset Date Legislation

In line with recent legislative changes, all vendors under an off-the-plan contract will no longer be able to exercise its sunset date termination rights without first: giving written notice to the purchaser 28 days before the proposed rescission setting out certain prescribed details; and obtaining each purchaser’s written consent to [...]

2019-07-15T12:04:12+10:00July 15th, 2019|Categories: Property|Tags: , |

Residential Construction and Land Tax: What happens if there is a delay in construction?

Whilst homes in Victoria that are occupied as a principal place of residence are exempt from Land Tax, building works or disputes that result in homes being unoccupied for extended periods of time can have the unexpected result of a Land Tax liability. These assessments can be particularly frustrating if [...]

2019-06-05T12:45:41+10:00June 5th, 2019|Categories: Property, Taxation|Tags: , , |

Blind Siding Amendment – Significant Property Developer Stamp Duty Amendment in Victoria

Almost all Victorian development agreements could soon create a stamp duty liability. Any sharing of profit by a landowner with a property developer who does not own the land in proportion to the profit entitlement could be assessable to stamp duty. In what may be described as a blind siding amendment [...]

2019-05-31T10:14:19+10:00May 31st, 2019|Categories: Property, Taxation|Tags: , , |

The sun is setting on delay tactics adopted by property developers in off the plan sales

Property developers engineering development delays and relying on developer friendly “sunset clauses” in off the plan contracts of sale contracts (OTP Contracts) to terminate those contracts and re-sell for higher prices are being targeted by the Andrews Labor Government through proposed new legislation. The Sale of Land Amendment Bill 2018 [...]

2018-09-18T18:03:03+10:00September 17th, 2018|Categories: Property|Tags: , , |

Assignment of lease of commercial premises: To consent or not to consent … That is the question, if you’re a landlord

A recent VCAT decision narrows the circumstances in which a landlord can withhold consent to an assignment of lease. This case, AVC Operations Pty Ltd v Teley Pty Ltd (Building and Property) [2018] VCAT 931, concerned a landlord’s decision to withhold consent to an assignment of lease under s 60 of [...]

2018-08-30T14:41:03+10:00August 29th, 2018|Categories: Property|Tags: , |

Victoria’s real estate industry thrown into chaos after Court denies estate agent’s right to receive commission – Floodgates open for claims by vendors/developers seeking to recover commission paid

A recent decision of the Victorian Court of Appeal in Advisory Services Pty Ltd (trading as Ray White St. Albans) v Augustin & Anor [2018] VSCA 95 (Advisory Services) is sure to strike fear in the heart of estate agents, particularly those acting for developers. The decision of Victoria’s highest [...]

2018-08-23T15:24:55+10:00May 31st, 2018|Categories: Property|Tags: , |

Don’t get caught out – Be aware of what constitutes a “terms contract” when selling an interest in land

When parties negotiate settlement terms of a contract of sale of real estate, particularly when it is a long term settlement, they can inadvertently structure the terms of the transaction in a way where the contract is deemed to be a ‘terms contract’ under the Sale of Land Act 1962 (the Act). This can have [...]

2018-08-23T15:25:16+10:00May 9th, 2018|Categories: Property|Tags: , , |

What is “Protection Work” under the Building Act 1993 (Vic)?

For the uninitiated, being served with a Form 3 "Protection Work Notice" can be confusing. We have endeavoured to provide a short explanation of what "Protection work" actually is, and the process involved. Building Permit If a building permit is required, then before it is granted, one of the things [...]

2018-08-23T15:37:35+10:00March 23rd, 2018|Categories: Property|Tags: , |

Neighbourhood Tree Disputes

Written submissions to the VLRC inquiry into neighbourhood tree disputes closed on 28 February 2018. Practitioners in this area will await the outcome of the inquiry with bated breath. In the interim, the consultation paper prepared by the Commission contains an impressive recap of the present law, although it will be unsatisfying [...]

2018-08-23T15:22:57+10:00March 14th, 2018|Categories: Property|Tags: |