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Services

Business Settlements

Buying or selling a business is an altogether different process to purchasing property and few conveyancers in Adelaide offer this service.

We have experienced conveyancers that specialize in this area and can help minimise your risk by making sure you have taken into consideration all the necessary factors and steps that will be required.

Checklist: Buying or selling a business 

Each business situation is unique with its particular complexities. Some issues you may need to consider include:

  • GST – is the sale a going concern?
  • Due Diligence – has this been allowed for in the contract. Get the right advice from you accountant, legal and financial advisor during this time.
  • Lease of premises – is there an assignment, transfer or preparation of a new lease?
  • Stocktake – who will undertake this and when?
  • Restraint of trade- is this required?
  • Staff – are they continuing employment? What are their leave entitlements including annual and long service leave.
  • What are the WorkCover or superannuation requirements?
  • Insurance – what does the business need?
  • Compliance – what are the compliance issues at a local, state, and federal government level?
  • Business name – how will the transfer of the business name be handled?
  • Transfer of phone numbers or the web site?
  • Licence transfers – are there licenses required to run the business such as liquor licences, council permits or motor vehicle licences?
  • Finance –are you taking out a business loan, borrowing against other property, debenture, bill of sale?
  • Will the vendor provide assistance after settlement? This checklist is just the start and as each business transaction is unique it is best to get the right advice early. As part of the 2015-16 State Budget stamp duty has been abolished on business transfer instruments executed on or after 18 June 2015.

Check our Business Conveyancing Information Sheet for a more detailed description of what is required

 

Commercial Conveyancing

Commercial Conveyancing in SA is a more complex process with many issues that may require consideration such as the following:

  • GST
  • Leases
  • Guarantees
  • Asbestos Registers

Our specialist commercial conveyancers make sure all these items are checked and discussed with your accountant and other advisors as required.

As part of the settlement process we also undertake the following for you:

  • provide assistance when negotiating a contract
  • ensure all special conditions have been complied with on time
  • prepare the legal documentation required to transfer the land
  • adjust all rates, taxes and levies
  • ensure compliance with current legislation
  • liaise with your mortgage broker and/or your financial institution to ensure all necessary documentation is completed correctly and is ready for settlement
  • advise the various government authorities of the change of ownership.

Purchasing?   Our Buying Property – What We Do For You information sheet has more details.

Selling?   Our Selling Property – What We Do For You information sheet has more details

 

Residential Conveyancing

If you are buying or selling then we aim to make the purchase or sale of your property a seamless stress free experience for you.

Some of the services that are included in the settlement process are to:

  • provide assistance when negotiating a contract
  • ensure all special conditions have been complied with on time
  • prepare the legal documentation required to transfer the land
  • discuss ownership such as Joint Tenants and Tenants in Common
  • adjust all rates, taxes and levies
  • ensure compliance with current legislation
  • liaise with your mortgage broker and/or your financial institution to ensure all necessary documentation is completed correctly and is ready for settlement
  • advise the various government authorities of the change of ownership.

All our conveyancers are specialists in Residential Conveyancing and can assist with any contracts in all of the Adelaide and South Australian areas.

Purchasing?   Our Buying Property – What We Do For You information sheet has more details.

Selling?   Our Selling Property – What We Do For You information sheet has more details

Form 1 Preparation

The Form 1 is a disclosure document that must be served by the Vendor on the Purchaser once a sale contract has been signed. It provides the cooling off rights and important details relating to the property being sold.

It is required under Section 7 of the Land and Business (Sale and Conveyancing) Act 1994 and must be accurate and must comply with the current legislation.

If it is inaccurate then the Form 1 will be considered defective which puts the Contract at risk and this may lead to complications with completing the property Settlement.

As a Vendor, or agent for the Vendor, you will want to be assured that the Form 1 is accurate and complies with the legislation. We have extensive experience and expertise in the preparation of these Form 1 Disclosure Statements. All Form 1’s are thoroughly checked before being forwarded to you or your agent.

Land Division, Strata and Community Titles

Whether you are a small developer dividing one block into two or are planning a multi stage development we are the right conveyancing firm for you. We have specialist conveyancers in our office that can assist you with your development.

We liaise with your appointed surveyor, financial institution, the Development Assessment Commission, local government authorities, SA Water and any other authorities that may have a registered interest over your title ensuring your new Titles are created as instructed.

We can be involved during the entire land division process or we can simply prepare the legal documentation to create the new Titles.

There are four existing forms of land title in South Australia:

Torrens Title – most blocks of land in South Australia are Torrens Title which provides a separate title for each parcel of land. You own and are responsible for the whole of the land and are responsible for all the maintenance and the insurance on your property.

  • Community Title – the Community Title replaced Strata Title in the early 1990s and gives more flexibility in terms of planning, renovation and design. You still have your own separate title for the area you own but are also responsible for contributions towards any maintenance of the Common Property (usually any driveway, common garden area and service infrastructure). A Body Corporate usually oversees the maintenance and running of the Corporation.
  • Strata Title – the Strata Titles Act was phased out in 1991 and replaced by the Community Titles Act. If your building was constructed before 1991 it may still fall under the old Act.   You still have you own separate title but are responsible for contributions towards any maintenance of the common property. Common property in a Strata Title consists of any driveways and gardens but also the outside walls and roof of your building. Again a Body Corporate will usually oversee the maintenance and running of the Corporation.
  • Moiety Title – a very old form of ownership which preceded the Strata Title. Ownership is by way of a lease or a company share. It is becoming rare to see any of this form of titles now though they do come up from time to time.

Private Contracts

If you intend to sell your house or land privately we can prepare the Contract and Form 1 (“Vendor Disclosure Statement”) which is required under Section 7 of the Land and Business (Sale and Conveyancing) Act 1994 for the sale and or purchase of your property.

We will advise you on what is legally required to sell your property and assist in the transaction from preparation of a Contract and the Form 1 through to the settlement date.

It is also very important that both the purchaser and vendor have their own independent conveyancer to complete their part of the conveyancing transaction. This will avoid any conflict of interest that could occur if you both used the same conveyancer.

If you require expert advice on contractual arrangements, special conditions and any other obligations then please contact us to discuss.

Family/Matrimonial Transfers

If you are going through a separation or divorce and your property has to be transferred as part of your property settlement then we can help. We will follow the Court Orders to ensure the transfer of ownership and any payments are dealt with correctly and will be there with you every step of the way to make sure the process is as seamless and stress free for you as possible.

What we do for you in a Family Transfer

prepare the legal documentation required to transfer the land including the necessary statutory declarations for stamp duty purposes

  • liaise with your mortgage broker and/or your financial institution to ensure all necessary documentation is completed correctly and is ready for settlement
  • adjust all rates, taxes and levies if required
  • prepare a settlement statement detailing all funds due and payable at settlement
  • disburse any funds at settlement in accordance with any Court Orders
  • advise the various government authorities of the change of ownership

Applications for Change of Name, Registration of Death etc

Life can throw up all sorts of challenges which means sometimes circumstances can change what you had planned for the future. Whether it’s the unforeseen circumstance of a death of a partner or spouse, or the binding of loved ones together or maybe its just a change of ownership for tax purposes. Whatever it may be we can arrange the correct documentation for you.

Leases

Commercial leases can be complex and you need a professional who understands what is needed.

Our specialist conveyancers are competent and able to assist with the preparation and execution of a lease.

We can:

  • advise on the content of leases before you sign, if you are a tenant
  • prepare your lease and associated documentation for you, if you are a landlord
  • tailor lease clauses for your specific commercial requirements.

Caveats

A caveat is placed on a Certificate of Title to protect a legal interest in a property. If you think you have a legal interest but are not registered on the title the we as your conveyancer can advise you and arrange for the registration of a caveat on your behalf.

A caveat can only be lodged under certain requirements which we can be explain to you and we can then prepare the necessary paperwork on your behalf.

A caveat can be placed if you lend monies to a party specifically relating to real property and you wish to register that interest on the Certificate of Title. The caveat is designed to protect a private mortgage and will need to be discharged once full payment of the loan has been made or when the property gets sold.

A caveat also warns prospective purchasers or mortgagees that a third person has some right or interest in the land.

Free pre purchase consultations

If you are looking to buy or sell we are more than happy to assist you with the process by checking any Contract and Form 1 documentation BEFORE you sign or if this is not possible then during the cooling off period. We offer this a free service with no charge to you if decide not to proceed with the purchase.

We review the contract including any special conditions and will discuss any implications that these may have to you.

We also review the Form 1 (Vendor’s Disclosure Statement) which discloses information about the property and is based on the statutory government searches. It provides information such as zoning, easements and encumbrances on the property, planning and development approvals and strata minutes if a strata or community title.

Again we will explain this information to you so that you are fully informed before the end of the cooling off period.

Cooling starts from the day service of the Form 1 on you and you have two clear business days after receiving it to change your mind or “cool off”. This applies to all residential property regardless of the name that you have chosen to purchase the property in. However if purchasing a commercial property in a company name then no cooling off applies. The Form 1sets out your cooling off rights and how to cool off.

It is extremely important that you take out property insurance as soon as possible after the contract is signed as most contracts put the property at the risk of the purchaser. If the building is destroyed by a fire prior to settlement it is the purchaser’s problem and the vendor will still expect the purchaser to settle the contract on time