What is a partition agreement?
A partition agreement is a legal document that outlines the terms and conditions for the division of property or land between multiple parties. This type of agreement is typically used in situations where multiple people own a piece of property and wish to divide it, such as in the case of a divorce or the […]
What is the “going concern exemption” to GST?
Updated on 19 January 2026 What is the “going concern exemption” to GST? When a business or commercial property changes hands, Goods and Services Tax (GST) doesn’t always apply. Under certain conditions, the sale can qualify for the “going concern” exemption — meaning the transaction is GST-free. This exemption is designed to make it easier […]
Final property inspection
Final property inspection- what to look out for? General condition 22 of the standard contract of sale gives buyers the right to a final property inspection. It states: “The purchaser and/or another person authorised by the purchaser may inspect the property at any reasonable time during the 7 days preceding and including the settlement day.” This allows buyers […]
Notice of acquisition form Vic
Recent updates to the Notice of Acquisition form Vic Landowners in Victoria may have to pay land tax. For land tax purposes, when you acquire any land in Victoria you must notify the State Revenue Office (SRO) by lodging a Notice of Acquisition form Vic with the Land Registry. This form will be forwarded to the SRO by the Land Registry. Landowners failing […]
Early possession prior to settlement
In certain circumstances property purchasers can have early possession prior to settlement- access to property they have purchased prior to settlement. A purchaser will typically seek early possession where they require sufficient time to move their possessions, or to allow them somewhere to live until settlement has been completed. This situation often arises when a purchaser […]
What is a Section 27 statement and should I sign it?
Put simply, a Section 27 statement is a crucial document in a property transaction that allows the vendor, in certain circumstances, to get early access to the deposit monies before settlement. Usually, you will hear the term used by real estate agents and conveyancers, but you still may be confused about what it is. There […]
Risk of making an unconditional purchase offer
Are you looking at buying owner occupied or investment property in Victoria? It is essential you are aware of your rights and obligations when making an unconditional offer. Are you looking at potentially selling property? It is just as important to know how unconditional contracts can impact you as a vendor. The risk of making […]
Verification of identity
VERIFICATION OF IDENTITY (VOI) REQUIREMENTS IN PROPERTY SETTLEMENTS When you are buying, selling or transferring property in Victoria you will need to have your identity verified by your legal representative. The verification of identity requirement form part of the transition to the electronic conveyancing system. Verification of identity reduces the risk of identity fraud and unauthorised property […]
Statement of adjustments
WHAT ARE STATEMENT OF ADJUSTMENTS? Towards the end of the conveyancing transaction statement of adjustments are prepared to ascertain the balance of the purchase price payable to the vendor and to adjust for outgoings such as council rates, water rates and owners corporation fees. In individual circumstances it may also be required that adjustments occur for items […]
Sale of Real Estate Nomination Form
What is a Nomination Sale in Real Estate? When purchasing property in Victoria, understanding the nomination form in the sale of real estate is essential, especially in off the plan contracts or land development projects. This form allows the original purchaser to nominate another party – such as a family member or company – to […]