Conveyancing

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Author: Shane

  • Surcharge Purchaser Duty (SPD)

    Shane

    Surcharge Purchaser Duty (SPD) Surcharge Land Tax (SLT) Payment Frequency One-time Annually (Recurring) Ordinary Resident 200 days within 365 days before the Liability Date 200 days within 365 days before the current Land Tax Date Exempt Permanent Resident 200 consecutive days within 365 days after the Liability Date 200 consecutive days within 365 days after… Read more

  • Automatic Mutual Recognition (AMR)

    Shane

    To be licensed conveyancer NSW VIC SA WS NT TAS Qulifications Advanced Diploma of Conveyancing (BSB60220) Advanced Diploma of Conveyancing (BSB60220) Working Experience 2 years full-time or equivalent part-time in the past 5 years to Unrestricted Licence 1 years full-time or equivalent part-time in the past 5 years to get Restricted Licence 1 years full-time… Read more

  • Lenders Mortgage Insurance (LMI)

    Shane

    While calculating an upfront fee for a customer looking to borrow $480,000 for a $600,000 property, I found that since the Loan-to-Value Ratio (LVR) exceeds 80%, the client must purchase Lenders Mortgage Insurance (LMI) through the bank. I obtained this information from the Westpac home loan calculator:https://www.westpac.com.au/personal-banking/home-loans/calculator/stamp-duty-calculator/. Although handling LMI falls within a broker’s responsibilities,… Read more

  • Home loan

    Shane

    While estimating the upfront costs for a client and reviewing the mortgage registration fee, I came across this website: https://www.finder.com.au/home-loans/view-more-home-loans. It lists several potential options. A B C D E F G H I L M N P Q R S T U V W Y Read more

  • Transfer of Land (VIC)

    Shane

    Submitting the Transfer of Land and Notice of Acquisition (NOA) for the buyer is straightforward. 提交**土地转让（Transfer of Land）和购置通知（NOA，Notice of Acquisition）**对于买家来说很简单。 Read more

  • Notice of Acquisition (NOA)

    Shane

    Conveyancing practices in Victoria (VIC) and New South Wales (NSW) differ significantly. Personally, I find VIC’s process more detailed and complex, involving additional steps such as the Notice of Acquisition (NOA). In VIC, when purchasing land: The vendor is responsible for submitting a Notice of Disposition (NOD) and the purchaser must submit a Notice of… Read more

  • Conveyancing Report on Contract of Sales Issue

    Shane

    Today, we provided a report to one of our clients regarding a property issue discovered before settlement. During the pre-settlement inspection, the client found that the Air Conditioning Unit was not working, with an estimated repair cost of approximately $2,500. She sought our advice on how to resolve this matter. The property is located in… Read more

  • Fee Simple

    Shane

    Fee simple” is a legal term used in New South Wales (NSW) A fee simple is a form of land ownership that gives the owner the right to use and pass on the property without time limit. It’s also known as a freehold estate.  How does fee simple work? Read more

  • How to file Complaint to Victorian Magistrates’ Court

    Shane

    If a dispute arises between the Vendor and the Purchaser over a Breach of Contract, and the amount in question is under $100,000 in Victoria, a Complaint Document can be filed with the Victorian Magistrates’ Court using Form 5A (Complaint Form 5A). Read more

  • Conveyancing work

    Shane

    Conveyancing work is considered legal work, which includes tasks that, if performed for a fee or reward by someone who is not an Australian legal practitioner, would be an offence under Part 2.1 of the Legal Profession Uniform Law (NSW). In NSW, NSW Fair Trading regulates that only a Licensed Conveyancer or Solicitor can undertake… Read more