The Often Overlooked Equity of Exoneration: How It Could Save Your Family Home
With insolvencies surging by 43% in the quarter ending 29 September 2024, many small and medium businesses — and their owners — are feeling the financial strain. For directors and their families, the impact can be especially severe if personal guarantees are enforced and the [...]
Repainting and Recarpeting Clauses in Retail Leases: What Every Landlord and Tenant Needs to Know
Disputes commonly arise between landlords and tenants in relation to obligations imposed on the tenant to repaint and recarpet the premises. A recent decision from the Victorian Civil and Administrative Tribunal (VCAT) sheds light on this issue, clarifying the relationship between lease obligations and [...]
Tenant entitled to terminate commercial lease after landlord fails to investigate potential structural defects: Brotherhood of St Laurence v Sarina Investments Pty Ltd [2024] VSCA 46
Who should read this article? Commercial landlords and tenants. The article will also be relevant to commercial property managers who are often the first port-of-call when these issues arise. In a nutshell: what do you need to know? Victoria’s highest Court has found that [...]
VCAT decision provides clarity for retail landlords and tenants: Beware of mixed rent review clauses
VCAT’s recent decision in Q St Kilda Tenancy Pty Ltd v Kane (Building and Property) [2023] 75 provides helpful guidance for retail landlords and tenants concerning rent reviews and the operation of section 35(2) of the Retail Leases Act 2003 (Vic) (RLA). This case concerned [...]
A DISCLAIMER SAVES THE DAY
A recent Queensland Court of Appeal decision shows the continuing utility of disclaimers on products despite legislative reforms narrowing the scope of their effectiveness. In Mallonland Pty Ltd & Anor v Advanta Seeds Pty Ltd[1] a class action was brought on behalf of commercial farmers against [...]
Hands off my deposit… at least for now: creative special condition modifying the operation of statutory deposit release rules deemed void
Vendors in real estate transactions are motivated to have their deposits released as early as possible. This motivation is particularly strong in relation to sales of high-value development sites, which are often sold on terms where settlement may be scheduled many years into the future. [...]
An expensive lesson: prospective purchasers lose $168,000 deposit after failing to comply with subject to finance clause
Buying a property can be one of the biggest and most important transactions you make during your lifetime and it is important you seek professional advice to protect your interests. A decision of the Victorian Supreme Court[1] handed down on 5 August 2021 demonstrates the potentially [...]
Living in a ‘material’ world: off-the-plan purchasers score convincing win over apartment developer in s 9AC(2) case
A decision of the Victorian Supreme Court[1] handed down on 9 August 2021 has highlighted the rights of off-the-plan purchasers to rescind contracts pursuant to s 9AC(2) of the Sale of Land Act 1962 (Act) when changes are made to the proposed plan of subdivision after [...]
The Financial Planning Industry – A Changing Landscape
In our Commercial Update of 14 August last year (Sale or purchase of financial planning practices) we commented on the significant volatility and turmoil which the financial planning industry had experienced in the preceding several years. That included, amongst other things, the Royal Commission and [...]
Your builder gives you a quote, but no written building contract, and you agree to proceed. Where do you stand?
It’s surprisingly common for home owners to engage builders to undertake domestic building works without that arrangement being supported by a written building contract. Sometimes the only documentary support is a written quotation, which may not be compliant. Home owners may be tempted to agree [...]