Or Nominee or Not

Purchasers often nominate a third party to perform the obligations under an agreement for sale and purchase.  They flag their intention to do so by using the words “and/or nominee” on the front of the agreement.    The standard form agreement makes it clear that even if the purchaser signs the agreement with provision for…

Transition under the Unit Titles Act 2010

Once the UTA 2010 commences, there are transitional arrangements that apply for 15 months.  This is a short summary of the options, useful for a body corporate secretary/manager. Body corporate rules – a body corporate can either keep its existing Schedule 2/Schedule 3 rules or elect for the rules to be replaced with the operational rules under…

Subdivisions, minimum areas and cancellation of contracts

 The Supreme Court decision in Mana Property Trustee Limited v James Developments Limited gives some useful advice about minimum area clauses which developers/purchasers entering pre-sales contracts should consider.  This case is also useful when considering what to do when there is a breach of an essential term in an agreement for sale and purchase. The Court found for the…

More about the Land Transfer Act changes – Land Covenants and Encumbrances

It is not uncommon to see encumbrances registered against titles.  They are a tool used when a land owner has an obligation to someone like an incorporated society or a neighbour.   An encumbrance might require that a land owner: join an association, maintain some native bush, or reinstate a fire wall.  Sometimes they even impose obligations that…