When buying or selling farmland it is important for all parties to be aware that all selling terms or conditions agreed on during the negotiation phase of contract formation need to be incorporated into the Contract.
The intention of the parties at the time of contracting must be clear, otherwise a timely settlement can be compromised. Read More
It seems a simple question. But far too regularly, when people enter into a contract for sale, the wrong Buyer has been documented and this simple and avoidable error can be very costly to rectify. To give an indication to the additional costs; we mean extra, sometimes double, Transfer Duty.
So how do you avoid documenting the wrong Buyer and incurring those additional costs?
The most important thing to do is to not rush into a contract for sale without giving careful thought to the transaction.
The three most likely forms a Buyer will take are: Read More
Most people buy or sell real estate at least once in their lifetime and the fact is it can be a very daunting experience.
Buying or selling a property creates a legal right and an obligation on both parties. These transactions can be a complex legal process, so with the right preparation and with a little understanding of how settlements work may alleviate any stress through the process. Read More
With a few exceptions, the minerals on or in most privately owned land belongs to the Crown.
Minerals are deposits other than limestone, rock, gravel, shale, sand and clay. Before ground disturbing exploration activities can be undertaken on private land, a mining tenement must be granted by the Minister for Mines and Petroleum. Read More
The Duties Act (2008) WA is the governing legislation for all dutiable transactions in Western Australia. By their very nature, all property transactions in Western Australia are dutiable transactions and accordingly, attract Transfer Duty. However, the Duties Act contains an exemption for certain Family Farm transactions whereby farmland may be transferred between family members (typically parents to children), and be classed as exempt transactions. Read More