Property Law

Property law includes matters relating to buying, selling and leasing residential and commercial properties, as well as different types of property ownership and interests.

Conveyancing

Conveyancing is the process of transferring a legal interest in property from one party to another.

Prior to purchasing a property there are a range of issues which may affect the property or impose obligations on you if you buy it.

To determine these issues, due diligence should be carried out, to ensure, among other things that there are no adverse affectations, the property may be used for its intended purpose, and any structures comply with local planning regulations.

Vendors must have a written contract containing specific disclosure documents before marketing a residential property and make certain warranties regarding the land and structures on it.

Although several steps are involved, the conveyancing process moves quickly, and an oversight could result in significant consequences for a buyer or seller. The sale or purchase of property is often the biggest financial commitment a person will make, and it is important to be guided by a professional.

Buying a strata unit

Owning a strata title property means you will hold title to an individual lot as well as sharing the use and responsibility for common areas such as stairways, lifts and gardens. By-laws regulate matters like carrying out renovations, noise, parking and the keeping of animals.

After completion, a strata lot owner becomes a member of the owners’ corporation and is jointly responsible for managing the strata scheme – this includes arranging insurance and repairs and maintenance to the common property. These additional matters and the financial considerations must be factored into your purchase.

Ownership interests in property

The way in which a legal interest is held in property is an important consideration.

A joint tenancy is subject to survivorship provisions – when one owner dies, the other joint tenant/s automatically inherit/s the deceased’ share. This share cannot be left to anybody else, even by contrary terms in a Will. Although these arrangements are usually appropriate for domestic partners, they may not always be.

Property held as tenants in common can specify the individual shares held by each owner (for example 50/50 or 30/70). In such cases a co-owner can transfer, sell or leave his or her share to a beneficiary by a Will.

You should check with a lawyer to ensure that the way property is held with a co-owner will not result in unintended consequences for the beneficiaries of your estate or create issues should disputes arise.

Commercial leasing

Commercial and retail leases govern the relationship between a landlord and tenant regarding a tenant’s right to occupy premises owned by the landlord. Retail leases are regulated by state legislation.

Lease disputes often arise because of poorly drafted, ambiguous or non-existent agreements, or the failure of the parties to understand their obligations. Landlords and tenants should obtain appropriate advice to ensure their negotiations are reflected in a written agreement, and the provisions comply with any relevant legislation.

Compulsory acquisition

When owning land in Victoria there is a possibility that the government may consider your land a suitable location for a public service. The Victorian Government and its agencies are empowered under the Land Acquisition and Compensation Act 1986 to acquire the land under a compulsory process referred to as a compulsory acquisition.

We have great experience and knowledge on this process and have worked on many of these files over the years, regularly obtaining compensation for our clients well exceeding their expectations and the initial reparation offered.

We can help if you are facing the often complex and daunting prospect of a compulsory acquisition.

If you need any assistance contact one of our lawyers at [email protected] or call 03 9489 2488 for a no-obligation discussion regarding your matter.