A trust is when one person assumes legal ownership of a property but for the benefit of another. A trust may be implemented for instance when an owner of property gives up the legal title of his/her property to a person and gives the equitable title to another.
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I recently appeared in a matter in the Real Property List of the Supreme Court of New South Wales where the main question for argument was whether a party was entitled to exercise a right of first refusal.
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Section 7 of the Conveyancing Act 1919 (NSW) (‘CA’) provides definitive guidance on the terms assurance and disposition. An assurance includes a conveyance and a disposition otherwise than by will. A disposition includes a conveyance and also an acknowledgment under section 83 of the Probate and Administration Act 1898 (NSW), vesting instrument, declaration of trust, disclaimer, release and every other assurance of property by any instrument except a will, and... Read More...
Over the past decade, the building and construction industry in Australia has experienced unprecedented growth, making it the fourth largest contributor to the national economy. With new commercial and residential developments commencing almost daily, the likelihood of disputes materialising between the respective stakeholders is on the rise.
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Starting up a business can be difficult. There are a wide multitude of factors that need to be considered and weighed up before taking the deep plunge into the wide world of commerce. One of the most crucial questions is ‘where do I set up the business’? Location is everything these days and if you find a good spot, you need to hold on to it with both hands. So, you take out a 5-year lease to ensure that you have some type of longevity. But how many of us think... Read More...
The past few months have been quite busy, particularly on the lecturing front. Fortunately (for my sanity at least) most of the seminars I’ve presented have concentrated on really interesting parts of the Conveyancing Act 1919 (NSW) (‘CA’) like options, relief against forfeiture and (my personal favourite) the creation of easements. I had a matter cr Read More...
The statutory demand process is one of many ways a company can be wound up. A creditor usually kicks off the ordeal by issuing a statutory demand on the debtor for a debt(s) that exceeds $2,000.
If the... Read More...
Purchasing property in today’s market can be difficult. The usual ‘tough decisions’ concerning where, when and how to purchase a property are sometimes riddled with concealed potholes. For this reason, and many others, it is imperative that any issues pertaining to the purchase of a property are ironed out well before you sign on the ‘dotted line’ and settlement comes about to ensure that disputes do not arise down the track.
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The Court of Appeal recently heard an appeal from the Land and Environment Court where a property developer managed to successfully alter the ‘categorisation’, for rating purposes, of various developments in Sydney from 'business' to 'residential'. The main issues in the Land and... Read More...